Taiwan is considered as one of the biggest and earliest foreign investors in Vietnam and Taiwanese entrepreneurs gain remarkable successes in the country. On occasion of the 16th annually Vietnam-Taiwan Congress slated to take place in Ho Chi Minh City early this month, reporters of Vietnam Business Forum’s reporter Luu Hiep had an interview with Hoang Van Dung, Vice Chairman of the Vietnam Chamber of Commerce and Industry (VCCI) on the issue.
Could you give your comment about the congress’s significance?
Over the past years, the VCCI and the Chinese International Economic Cooperation Association (CIECA) have joined hands to hold trips for their business delegations to explore investment opportunities in each country annually. They have also organised 16 annual congresses for their businesses in both countries. These activities have helped Vietnam-Taiwan enterprises to understand more about business environment of each side. These are also a chance for the two-side business cycle to further cooperation in the fields of investment, sci-tech and trade as well as to sign cooperation deals.
We hope that the meeting will boost experience sharing and exchange between Vietnamese and Taiwanese businesses. This is also an opportunity for the two countries to enhance cooperation in developing small and medium-sized enterprises and continue implementing their investment projects, aiming to raise bilateral trade turnover.
What do you think about Vietnam-Taiwan economic and trade ties over the past time and their inked agreements?
The two-country trade and economic ties have been developed well. Over the past recent years, Taiwan has become among six big foreign investors in Vietnam. Total bilateral trade turnover reached US$8.04 billion in 2007, up 39.1 per cent on-year. Of the sum, Vietnam exported goods worth US$1.13 billion and imported goods worth US$6.91 billion. In the first five months of this year, Vietnam’s earned US$385.96 million from exports to Taiwan down 28.4 per cent on-year.
Last year, Taiwanese investment in Vietnam mostly focused on the industrial and construction sectors with 1,460 projects valued at US$16.2 billion. Taiwanese investors mainly came to Vietnam’s southern provinces, including Dong Nai, HCM
City, Binh Duong and Ba Ria-Vung Tau. As of late July this year, Taiwan had carried out 1,947 projects in Vietnam totalling US$19.6 billion, ranking first among foreign investors making direct investment in the Southeast Asian nation. Taiwanese investment in Vietnam has continuously increased over the past time, making a great contribution to boosting the two-side trade turnover. Taiwan is now Vietnam’s 6th biggest trade partner.
Vietnam and Taiwan have reached agreements on investment protection and the cooperation in trade, labour, agriculture and seafood sectors.
Which fields of cooperation have Vietnam and Taiwan cooperated expanded in, besides economic and trade sectors?
In addition to successful cooperation in the economic and trade sectors, Vietnam and Taiwan have expanded their cooperation in the areas of labour, agriculture, seafood and sci-tech. They also have coordinated in the education sector. Currently, around 10,000 Vietnamese people are working in Taiwan.
All of these have been supported by the business community, Vietnam-Taiwan concerned agencies as well as great efforts by the CIECA and the VCCI in assisting the two-country businesses to accelerate their cooperation. We highly appreciate the efforts.
Vietnamese
