10:22 | 29/08/2015 Investment
(VEN) - During a talk with Vietnam Economic News’ reporter Nguyen Huong, SIP Vietnam Co., Ltd. Executive Director Lye Yhin Choy said that the Vietnamese electronic industry is still growing rapidly and that the company plans to expand its investment in Vietnam.
What about your company and its operations in Vietnam?
SIP Vietnam is a member of the SIP Technology Group in Asia Pacific. We came to Vietnam in 2011. We provide equipment, machinery and materials for semiconductor production and electronic assembly lines.
We specialize in production of high-technology, high-standard products, rather than medium and low-level solutions. For this reason, we focus on technology transfer. We also distribute products under world-class brand names, which are related to circuit boards assembly lines. Accordingly, we established a technology application center in Malaysia and regularly invite experts from the US, Europe and Japan to the center to show and transfer new technology to our clients and staff.
Seventy percent of the company’s clients in Vietnam are foreign businesses. However, Vietnamese companies are also growing rapidly as a result of their intensive investment in technology to develop products and establish their own brand names. We currently have two Vietnamese clients including the Vietnam Post and Telecommunications Group (VNPT) and the Vietnam Military Telecommunications Group (Viettel).
Why did the company choose Vietnam to be one of its investment destinations? What has contributed to the company success so far?
The Vietnamese electronic industry is growing fast. We arrived in Vietnam when foreign investors, mostly Japanese high-tech companies, were intensifying their investment in this market.
Since our start-up in Vietnam we have focused on providing technology solution consultation services for clients, rather than selling products. SIP Vietnam also has a small-sized technology application center in Ho Chi Minh City with a full arrange of equipment for technological line assembly. Many Vietnamese clients could even visit us for technology consultancy and transfer before they decided to buy our products.
What are your recommendations for the Vietnamese electronic industry? What plans does your company have for Vietnam in the short run?
I think, Vietnam is going the right way. However, as the electronic industry is growing rapidly, the country will face difficulties in terms of high-qualified and experienced work force. Because this industry requires high-technical and high-skilled labor force, the government should take preparatory steps in a timely manner to keep up with this trend.
Vietnam is a very potential market with a young population and a lot of foreign investment flows. With that in mind, we plan to expand our operations in this market. Specifically, we plan to build more factories and expand our human resources. In future years we expect to open a training and technology application center in Vietnam, which is similar to the existing center in Malaysia.