Electronics sector poised to rival IT growth in 5 years

ufacturing — despite extensive government — support— remains a smaller, lower-margin industry than IT services, dominated by companies with thinner profits, employing fewer people and paying lower average wages.

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The electronics industry received a boost after the government began providing financial assistance in April 2020 for assembling mobile phones and other electronic goods.

Since then, the sector has spawned over half a dozen listed firms, a dozen private companies, and a few foreign players, including Taiwanese giant Foxconn, which have either set up new units or expanded existing ones to assemble imported components.