To date, Taiwan (China) ranks 4th out of 145 countries and territories investing in Vietnam with nearly 3,200 projects and a total registered capital of over 39.5 billion USD. Taiwan has also become Vietnam's 5th largest trading partner, with a bilateral trade turnover of about 25 billion USD.
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The above figures were presented at the Vietnam - Taiwan (China) Business Forum 2024 on the afternoon of April 8. The Exhibition and Forum were organized by DVL IPT Investment and Trade Promotion Joint Stock Company in collaboration with the World Taiwan Chamber of Commerce (WTCC). This is a sideline activity of the "2nd Inter-Sectoral Conference of the Council and Supervisory Council, Session 30" in 2 days from April 8 to 9, 2024 of WTCC with nearly 1,500 delegates from 176 member associations in 72 countries around the world attending.
Lawyer Nguyen Hong Chung - General Director of DVL IPT Investment and Trade Promotion Joint Stock Company - Vice President and General Secretary of the Vietnam Industrial Park Finance Association VIPFA - Head of the Forum Organizing Committee said: "In the current international economic context, Taiwanese enterprises are very interested and continue the trend of expanding investment and business cooperation with Vietnam. Along with that, Vietnam's investment attraction policies are increasingly attractive to foreign investors in general and Taiwanese enterprises in particular. The event is an opportunity for Taiwanese enterprises to learn about opportunities and invest in Vietnam. The event also helps Vietnamese localities promote and introduce their potential and strengths to Taiwanese investors."
Speaking at the forum, Deputy Minister of Planning and Investment Tran Duy Dong believed that the forum, with the participation of Taiwanese business representatives from all over the world, would certainly create a "boost" for a new wave of Taiwanese investment in Vietnam in the coming time.
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| Deputy Minister of Planning and Investment Tran Duy Dong |
Taiwan is a large economy with high levels of technology and engineering. Up to now, most of Taiwan's large enterprises have had a presence and invested in Vietnam. To promote Taiwan's investment cooperation in the coming time, Deputy Minister Tran Duy Dong shared that Vietnam calls for and encourages Taiwanese enterprises to invest in the fields of science and technology, electronics, semiconductors and innovation... "These are also the fields in which Taiwanese enterprises have strengths, and at the same time are consistent with Vietnam's policies and orientations to attract and cooperate with foreign investment," said the Deputy Minister.
In addition, it is recommended that Taiwanese enterprises increase technology transfer, increase the localization rate, increase support for training highly skilled workers, create conditions and support for Vietnamese enterprises to access technology and improve production capacity; Review to develop the supply chain, accordingly, Taiwanese enterprises are interested in expanding and linking with qualified Vietnamese enterprises to form a global supply chain; When investing in Vietnam, Taiwanese enterprises, in addition to complying with the law, need to continue to pay attention to the lives of workers and social security work.
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Sharing at the event, Mr. CY Huang - Founding Chairman of the Southeast Asia Influence Alliance (SIA), said that some of the main reasons why Vietnam attracts investment from Taiwan include: Good investment environment; Similar culture; Having a young, abundant workforce, advantages in labor costs and potential domestic consumption market; Strong economic growth; The presence of large investors (most of Taiwan's large electronics manufacturers have invested in Vietnam, creating an attractive investment environment for Taiwanese businesses, attracting Taiwanese suppliers to invest in Vietnam); There is diversity in the industry, creating open investment opportunities for Taiwanese businesses; There has been the gradual formation of industry clusters (electronics, textiles, footwear, etc.), creating favorable conditions for Taiwanese businesses to find cooperation partners, reduce production costs, etc.
Therefore, Mr. CY Huang commented that Vietnam is a potential investment destination for Taiwanese investors in the trend of shifting supply chains and smart production chains in Southeast Asia.Source link
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