“I am very glad to see more and more Taiwanese businesses invest in Vietnam and achieve many successes. In the future, I also wish to be one of them, to contribute to the development of Vietnam,” Mr Huang Chih-peng, representative of the Taipei Economic and Cultural Office, told the Vietnam Business Forum Magazine’s reporter Luu Hiep on the occasion of New Year.
Taiwan (China) is one of largest investors in Vietnam and Taiwanese businesses have sought out many opportunities and notched up successes in the Vietnamese market. What do you think about the prospects for economic cooperation between Vietnam and Taiwan in the future?
Vietnam is recovering from the global economic crisis. Vietnamese people are diligent and enthusiastic, its population is young, and most importantly Vietnam has a political and social stability - a crucial factor for businesses to invest here, including those from Taiwan.
Vietnam - Taiwan economic relations are basically mutual supporting. Vietnam calls for investment and welcomes investors into Vietnam and the openness of the Government has created strong FDI waves into Vietnam in recent years. This is also the time Taiwanese businesses are expanding their overseas investment. Another important factor is when Taiwanese investors saw Vietnam as similar to Taiwan 20 - 30 years ago, they adapt very quickly. After a period of investment, Taiwanese investors have achieved some success in Vietnam.
According to international ratings agencies, Vietnam's degree of happiness is very high and this is also a reason for Taiwanese investors to come to Vietnam. Taiwanese investors in Vietnam speak well of the country and they highly rate the investment environment as well as the people here.
Taiwanese enterprises were hit by the global economic crisis in 2008 and 2009 and cut investment in Vietnam, but they still saw Vietnam as a top overseas destination in the near future. This year, the number of Taiwanese enterprises investing in Vietnam is forecast to increase. Relationships will be more practical and specific.
Which field of cooperation do you think will develop most rapidly?
In the future, high-tech, banking and real estate sectors will develop strongly in Vietnam. Tourism is also a special field. We believe that the two sides can maximise their cooperation in tourism development.
I think that with closer cooperation, Vietnam and Taiwan will provide more information on Vietnam’s attractions to Taiwanese and more Taiwanese holidaymakers will visit Vietnam, and vice versa. Good tourism cooperation will increase the number of tourists, which will require better hospitality services and accommodations. Taiwanese investors are very interested in this market segment.
Taiwanese companies enjoy advantages in manufacturing, supporting, and processing industries, and manpower export. Would you mind providing more detail of these advantages?
Taiwanese companies tend to focus investments on hi-tech industries, which demand large capital investment but bring in high economic value. Foxconn, Compal, Mitac, Young Fast are typical examples. We are interested in investing in infrastructure and agriculture projects. Chinfon Group invested and implemented agricultural projects in Cu Chi in 2007, helping local farmers improve technology, increase production and improve marketing skills. Chinfon Group introduced the farmer support policies successfully applied in Taiwan for decades to Cu Chi district, and sent “seed farmers” (many of them were college graduates) to Taiwan to acquire skills and knowledge. After three years of implementation, the project generated encouraging results and Chinfon pledged to continue agricultural cooperation in the next three years.
Vietnam and Taiwan have many cultural similarities. On the occasion of the Lunar New Year, what would you like to share with VIB Forum readers as well as the business community in general and the Taiwan business community in Vietnam in particular?
The similarities between Vietnam and Taiwan are not only confined to culture but also appearance. If Taiwanese go to Laos, Cambodia, Indonesia or the Philippines they are easily distinguishable, but when they come to Vietnam, it is difficult to distinguish. In Taiwan, about 110,000 Taiwanese - Vietnamese couples are living. This is possibly another reason for Taiwanese investors to come to Vietnam to invest and live.
On the occasion of the New Year, I wish the Vietnamese economy prosperity. The current success of Taiwanese investors in Vietnam partially comes from the support of all authorities and people in invested locations. I wish you a new year of health, prosperity and luck.
I usually tell Vietnamese authorities, “Thank you for your friendliness and enthusiasm.” For my part, I will try my best to introduce the image of Vietnam to Taiwanese businesses.
Thank you very much!
Vietnamese
