Wave of Taiwanese enterprises comes to Vietnam's shores
Wave of Taiwanese enterprises comes to Vietnam's shores
At the Vietnam-Taiwan Business Forum held on April 8, more than 2,000 Taiwanese enterprises from 176 member associations spanning 72 economies worldwide convened to establish business connections with Vietnamese counterparts.
During the event, Tran Duy Dong, Deputy Minister of Planning and Investment, said that in recent years, Taiwan has consistently been among the top foreign investors in Vietnam.
"In 2023, investment from Taiwan into Vietnam reached $2.2 billion, quadrupling on-year," Dong said. "Cumulatively, Taiwan currently ranks fourth out of 105 countries and territories pouring money into Vietnam, with nearly 3,200 projects and a total registered capital of over $39.5 billion."
"Taiwan has also become Vietnam's fifth-largest trading partner," he said.
According to CY Huang, chairman of the Southeast Asia Impact Alliance, Vietnam is an attractive destination for Taiwanese investors and a crucial link in the Southeast Asian supply chain relocation trend.
Huang said that the cultural similarities between Vietnam and Taiwan, which help reduce communication barriers and facilitate favourable conditions for investment cooperation. Furthermore, Vietnam's young population, high economic growth rate, and diverse industries present opportunities for Taiwanese businesses to expand their investments.
Expressing satisfaction with the cooperation between enterprises of both countries, Dong proposed that Taiwanese businesses enhance technology transfer, increase localisation rates, and support skilled labour training.
He also expressed hope that Taiwanese enterprises would adhere to local laws and actively collaborate with local businesses, showing concern for the livelihoods of workers and engaging in social work.
"Vietnam encourages and promotes Taiwanese businesses to invest in fields such as science and technology, electronics, and semiconductors, areas where Taiwan excels, and which align with Vietnam's development direction," Dong said
