Vietnam-Taiwan business forum held in Hanoi
Vietnam has solidified its position as the most attractive investment destination for Taiwanese companies in Southeast Asia and globally, Deputy Minister of Planning and Investment Tran Duy Dong told the Vietnam-Taiwan business forum in Hanoi on April 8.
Investment from Taiwan (China) in Vietnam surged in 2023, reaching US$2.2 billion, a fourfold increase from the previous year. This impressive growth placed Taiwan as the fourth largest investor in Vietnam, out of 105 countries and territories, with nearly 3,200 projects valued at over US$39.5 billion. Additionally, Taiwan has become Vietnam's fifth largest trading partner.
Dong commended Taiwanese enterprises for their contributions to Vietnam's economic development. He highlighted their role in fostering technology transfer, increasing the use of locally-produced materials, and upskilling the Vietnamese workforce. These efforts, he noted, contribute significantly to the establishment of robust global supply chains.
Pham Tan Cong, chairman of the Vietnam Chamber of Commerce and Industry (VCCI) and Chairman of the Taiwan Affairs Committee, pointed out the extensive presence of major Taiwanese electronics conglomerates like Foxconn, Wistron, Qisda, Pegatron, Compal and Quanta in Vietnam, saying that this is a promising signal for cooperation between the two sides.
On the occasion, the Vietnam-Taiwan (China) 2024 international investment and trade promotion exhibition kicked off on April 8 and runs until April 9. The event, co-organised by DVL IPT Investment and Trade Promotion JSC and the World Taiwanese Chambers of Commerce (WTCC), provides a platform for networking and collaboration among businesses across various sectors.
Nguyen Hong Chung, general director of the DVL IPT Investment and Trade Promotion JSC, said the event takes place during a pivotal year - Vietnam marks its 35th anniversary of attracting foreign investment. Over the past three and a half decades, Taiwan (China) has emerged as a key partner, ranking fourth in foreign direct investment (FDI) with nearly US$40 billion, and fifth in overall trade, with two-way trade of almost US$25 billion.
