Taiwan Seeks Cooperation to Develop Smart Cold Chain System

11:36:56 AM | 8/9/2019

Taiwan (China) is currently one of four largest investors in Vietnam, said Mr. Hoang Quang Phong, Vice President of the Vietnam Chamber of Commerce and Industry (VCCI), at the working meeting with Mr. James C.H. Huang, Chairman of the Taiwan External Trade Development Council (TAITRA).

Statistical data showed progressive trade and investment cooperation between the two sides. According to information from the Taiwan Economic Agency, by the end of February 2019, Taiwan invested over US$31.7 billion in 2,616 projects in Vietnam, becoming the country’s fourth largest foreign investor.

TAITRA Chairman James C.H. Huang said, Taiwanese businesses highly appreciated the business environment and investment incentive policies of the Government of Vietnam, citing that a lot of gigantic investment projects of Taiwanese investors are doing successfully in Vietnam. And, there are up to 6,000 Taiwanese businesses operating in Vietnam.

Taiwanese businesses look forward to working with Vietnamese partners in the smart cold chain systems, he added. Taiwan's low-temperature food industry has developed quite strongly. The global utilization rate of low-temperature logistics services reaches up to 80-90%. The expected annual value is estimated at 280 billion new Taiwan dollars. In particular, the expansion of convenience stores, supermarkets and restaurants in recent years has spurred rapid growth of cold chain supply services.

Glad to see new investment directions of Taiwanese businesses, VCCI Vice President Phong requested TAITRA to further work closely with VCCI to organize more information exchanges and trade - investment promotion activities between the two business communities.

Anh Phuong