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Imports up on electronic goods
Several firms in Ho Chi Minh City have increased imports of electronic products by 20-30 percent over previous months as they prepare for the year-end shopping season.
Tran Huu Tai, director of an electronics import company, said most imported items are home appliances not made in Vietnam currently. These were mostly imported form Southeast Asian countries including Thailand , Singapore , Malaysia and Indonesia that offer cheap prices and enjoy low import tariffs.
Lien An Thach, sales and marketing director of the Cho Lon Electronic Supermarket, said prices of both imported and locally produced electronics products have decreased by 10-30 percent compared to the beginning months of the year.
With only two months to gp before Vietnam is bound to fully open its retail market as part of its WTO (World Trade Organisation) commitments, domestic producers are concerned about their ability to hold on to their market shares.
Local electronic firms say they have gradually reduced production of highly competitive products like televisions and music systems while increasing that of refrigerators and other home appliances that can fetch reasonable prices.
Some enterprises note that with the five percent tax rate levied on completely-built-units and 3-4 percent on electronic spare-parts, importing the former is more profitable than assembling them here. So they plan to combine imported and locally produced products for the upcoming season.
VNA
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