Vietnam Electronics Industry Is Gearing for Solutions, Aims for Economic Recovery in 2022

NEPCON Vietnam 2021 recently concluded and is regarded as a success in terms of bringing industry updates and discussions about the electronics industry. The event was held digitally for the first-time last November, with the tagline "4.0 Electronics Event to Make your Business on-air" with the goal of reaching out to a global audience about the Vietnamese Electronic Industry and updating the electronics industry with new technology. The event drew approximately 2287 participants, a commendable achievement given the lack of a physical location for a live event.
According to Mr. Phan Quang Vinh, Marketing Head of Reed Tradex Vietnam, a survey of the businesses that attended the event was conducted. The questions asked business representatives about their current business framework, as well as their business practices and concerns. The outcomes are as follows:

• In terms of participant roles, 35% of the participating enterprises are Vietnamese electronics firms, 37% are SMEs, and the remaining 28% are FDI enterprises and others.
• In terms of business concerns, up to 76% said they needed business advice and assistance in resuming production activities during and after the pandemic.
• More than 60% of businesses believe it will take more than a year to recover, while the remaining 10% believe it will take 3 to 5 years.
• Almost 78% want to expand their business activities and need to participate in trade promotion or business networking.
• More than 47% of businesses are concerned about efficiency.
• 33% are concerned about cost, while the remainder are concerned about safety and health.
• Impressively, more than 80% of businesses have already begun to adapt their online activities and operations to ensure compliance with government regulations and social distancing.

Pandemic, Post-Lockdown, and Industry Workforce Effects in 2021

The effects of the pandemic are not new to the industry. The panel discussions at the event focused on workforce-related issues and its critical role to management. The question frequently asked is whether companies should rehire former employees who returned to their hometowns or hire new people. Companies, according to Mr. Bill Pham Hung, should focus on "using strategies that would be valuable leadership skill training," as companies should provide their employees with opportunities for growth and advancement.

Mr. Daniel Fitpatrick also mentioned the LinkSME project, which aims to connect small and medium-sized manufacturers to global and, in some cases, domestic supply chains. Vietnam's role in the supply chain is critical to the industry's survival, and the roles of businesses are highlighted in terms of how they may impact the global industry. Mr. Ha, Nguyen Hoang, emphasized how "Vietnam has become a very attractive market because the majority of the world's largest corporations are now present in Vietnam." In reference to the expat movement, many international experts working in the sector hope to help technology and transfer training to the electronics industry.

NEPCON Vietnam 2022

As the world recovers from the pandemic effects, the Vietnamese electronics industry has a lot to overcome. As seen and heard within the exhibitors' panel discussions, experts are keeping a close eye on key players in the electronics Industry, as the worldwide recovery provides more opportunities to make an impact not only locally, but globally.

NEPCON Vietnam will return in 14-16 September 2022 with new updates from the electronics industry; for more information and updates on the event, visit their Facebook page, LinkedIn, and www.nepconvietnam.com

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About RX (Reed Exhibitions)

RX is in the business of building businesses for individuals, communities and organisations. We elevate the power of face-to-face events by combining data and digital products to help customers learn about markets, source products and complete transactions at over 400 events in 22 countries across 43 industry sectors. RX is passionate about making a positive impact on society and is fully committed to creating an inclusive work environment for all our people. RX is part of RELX, a global provider of information-based analytics and decision tools for professional and business customers. www.rxglobal.com

This release was published on openPR.