Upgrading Vietnam - Taiwan Economic and Commercial Cooperation Prospects

This forum focused on assessing opportunities and challenges of Vietnam - Taiwan business cooperation when Vietnam is deeply integrating into regional and global economies. With topical contents, the forum was attended by government officials, economic specialists and business representatives of Vietnam and Taiwan. Delegates discussed challenges faced by Vietnamese and Taiwanese economies in the course of development, researched new ordinances issued; assessed new opportunities of trade cooperation for Taiwan in Southeast Asian markets, including Vietnam; exchanged and shared business experience.

 

Mr To Quoc Tuan, General Secretary of Taiwan Working Committee, said that Vietnam initiated reform policy in 1986 to search for foreign capital sources, opportunities and experiences of economic development. In response to the open economy policy of the Government of Vietnam, Taiwan quickly became the first foreign investor of Vietnam. Vietnam - Taiwan economic cooperation has been constantly developed in the past 20 years, featured a 27-time growth in bilateral trade revenue and a 28-time increase of Taiwan’s investment capital in Vietnam. Currently, Taiwan is the fourth largest investment partner, the fifth largest trade partner and the sixth largest tourism market of Vietnam. Taiwanese businesses in Vietnam generate 1.4 million jobs and contribute significantly to social security works as well as economic development of Vietnam. He affirmed that, “With a wide open space and abundant potential, Vietnam - Taiwan economic and cultural cooperation will continue to grow strongly in the coming years to generate benefits for the business communities and economies of both sides.”

 

Mr Huang Chih-Peng, Chief Representative of Taipei Economic and Cultural Office in Vietnam, said that, with its favourable geographical conditions, abundant natural resources, stable political environment, a safe living environment and an open investment environment, Vietnam has brought new development opportunities for Taiwanese investors in particular as well as FDI investors. However, whether they can utilise this opportunity or not largely depends on the dynamism and observance of Taiwanese businesses, as well as incentive and investment policies of the Vietnamese Government for foreign investors, including Taiwanese.”

 

CTCCV Chairwoman Liu Mei Theh said, “As an emerging and developing economy, Vietnam is a great market for Taiwanese businesses to make long-term investment and development. Such sectors as processing, manufacturing, real estate, construction, education and medical services will be a focus for Taiwanese businesses. Open trade and investment cooperation prospects are expected to help raise Vietnam - Taiwan cooperative ties in the near future.”

 

To tackle existing bottlenecks in economic, trade and investment cooperation, Deputy Industry and Trade Minister Tran Quoc Khanh of Vietnam hoped that this forum will open new opportunities of potential cooperation for Vietnamese and Taiwanese business communities and help strengthen bilateral economic cooperation in the future.