Taiwan firms to invest more in Vietnam
With analysts having predicted Vietnam
’s economy would rebound by late this year, Taiwanese investors would
soon boost investment in Vietnam , a business conference in Ho Chi Minh
City heard on Aug. 10.
With analysts having predicted Vietnam
’s economy would rebound by late this year, Taiwanese investors would
soon boost investment in Vietnam , a business conference in Ho Chi Minh
City heard on Aug. 10.
About 40 Taiwanese enterprises specialising in sectors including electronics and electronic components, automobiles and computers were at the conference organised by the Chinese International Economic Cooperation Association and the Vietnam Chamber of Commerce and Industry.
With Taiwanese investors interested in doing business in Vietnam , the association organised annual trips for them to study the investment climate, said delegation head Richard Tang.
Arthur Ting, chairman of CT&D Group which runs three projects in Vietnam , encouraged Taiwanese firms to invest in a country he said was ideal for investment.
Tang urged Vietnam to quickly improve its infrastructure, train highly skilled workers and clear land to better meet foreign investors’ demands. When this was done, more and more investors would come, he said.
Phan Huu Thang, director of the Foreign Investment Agency, said Vietnam would implement open policies and improve its foreign investment policies to catch investment flows when the global financial crisis ended.
Thang said he wanted Taiwanese investors to comply with Vietnamese laws with more focus on improving conditions for workers.
As of last month, Taiwan had invested in more than 2,000 projects in Vietnam at a total capital cost of 21.2 billion USD. In terms of project numbers, Taiwan ranked top among the 84 countries and territories investing in the country and second on value.
Dong Nai, HCM City , Binh Duong, Long An and Ha Tinh were among the 10 provinces to attract the majority of Taiwan-invested projects.
Taiwanese investors have contributed to Vietnam ’s economic development as the majority of their projects used advanced technologies, Thang said.
Trade between the countries had significant growth in recent few years, reaching more than 8 billion USD in 2007 and 9.7 billion USD last year. Of the total, 1.4 billion USD came from Vietnamese exports.
The global crisis was blamed for exports to Taiwan falling 28.5 percent to 386 million USD during the first five months of this year./.
About 40 Taiwanese enterprises specialising in sectors including electronics and electronic components, automobiles and computers were at the conference organised by the Chinese International Economic Cooperation Association and the Vietnam Chamber of Commerce and Industry.
With Taiwanese investors interested in doing business in Vietnam , the association organised annual trips for them to study the investment climate, said delegation head Richard Tang.
Arthur Ting, chairman of CT&D Group which runs three projects in Vietnam , encouraged Taiwanese firms to invest in a country he said was ideal for investment.
Tang urged Vietnam to quickly improve its infrastructure, train highly skilled workers and clear land to better meet foreign investors’ demands. When this was done, more and more investors would come, he said.
Phan Huu Thang, director of the Foreign Investment Agency, said Vietnam would implement open policies and improve its foreign investment policies to catch investment flows when the global financial crisis ended.
Thang said he wanted Taiwanese investors to comply with Vietnamese laws with more focus on improving conditions for workers.
As of last month, Taiwan had invested in more than 2,000 projects in Vietnam at a total capital cost of 21.2 billion USD. In terms of project numbers, Taiwan ranked top among the 84 countries and territories investing in the country and second on value.
Dong Nai, HCM City , Binh Duong, Long An and Ha Tinh were among the 10 provinces to attract the majority of Taiwan-invested projects.
Taiwanese investors have contributed to Vietnam ’s economic development as the majority of their projects used advanced technologies, Thang said.
Trade between the countries had significant growth in recent few years, reaching more than 8 billion USD in 2007 and 9.7 billion USD last year. Of the total, 1.4 billion USD came from Vietnamese exports.
The global crisis was blamed for exports to Taiwan falling 28.5 percent to 386 million USD during the first five months of this year./.
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