Taiwanese companies are rated to be good-performing investors and have made long standing presence in Vietnam. In recent years, there has been a new direction in investment flows within Asia and Vietnam is becoming the first choice destination for investors.
The Taiwan Electrical and Electronic Manufacturers' Association has particularly selected three Southeast Asian countries to conduct a survey called “Survey delegation to Vietnam, Singapore and Indonesia in 2011” led by Mr Chiao You Chun, President of the Association. The first destination is Hanoi.
The survey is aimed at surveying the development of overseas investment environment for electrical and electronic companies as well as meeting with companies and governments of visited countries. The delegation includes representatives from 27 leading member companies of the association, including Winbond Electronics Corp, Universal Microelectronics Co., Ltd. (UMEC), AU Optronics Corporation (AUO), Compal (which invests in Vinh Phuc province). The electrical and electronic industry of Taiwan generates total production value of over US$200 billion a year, accounting for a half of Taiwan’s gross domestic product GDP.
The delegation’s visit to Vietnam, Singapore and Indonesia is based on the association’s Survey Report 10 +1. Vietnam is the first destination on this journey. On May 16, 2011, the delegation also visited and worked with the Vietnamese Ministry of Planning and Investment to learn more about the investment environment in Vietnam and visited Compal’s Vietnam factories located in Vinh Phuc. Mr Chiao You Chun said: "When we were introduced of a very favourable investment environment in Vietnam by Mr Huang Chih Peng, Chief of Taipei Economic and Cultural Office in Hanoi, and were invited to visit the country, we expect Taiwanese companies will choose new investments through this visit to contribute to the general development of the Taiwanese business community in Vietnam.”
Dr Vu Tien Loc, President of the Vietnam Chamber of Commerce and Industry (VCCI), affirmed that the Government of Vietnam in general and the VCCI in particular are trying to build the best investment environment. The Government is striving to bring electricity prices closer to world rates on the basis of market mechanism and [this move] will thus help improve the supply of this important energy source. “We hope that Taiwanese companies participating in this survey will invest in Vietnam in a near future and we always support their business decisions,” said Mr Loc.
During the meeting, Taiwanese companies shared experience in how to do business successfully in Vietnam. Mr Lu Zhisheng, Director of Vietnam Investment Company, shared his experience and advice with interested companies, saying that [they should] pay attention to tax policies, investment environment and personnel before deciding to invest in Vietnam. Besides, foreign exchange and electricity are also of major concerns of interested investors.
Mr Li Guolong from Tung Shin Industries Co., Ltd and Vice Chairman of the Taiwan Trade Association in Vietnam, said, the investment environment in Vietnam still has many difficulties but it is generally an attractive investment destination for businesses in the future.
Mr Le Van Ninh, Deputy Director of Department of Planning and Investment of Thai Nguyen province, added that Taiwanese companies investing in Thai Nguyen have very good business results and sustainable development. Taiwanese businesses mainly invest in electronics, tea, infrastructure and paper in the province, with production primarily destined for export. On this occasion, he also invited the visitors to Thai Nguyen province to learn about business potential, opportunities, and policies.
Luu Hiep
Vietnamese
