Econ
Strengthening Vietnam-Taiwan economic tie
According to the Vietnam Chamber of Commerce and Industry (VCCI), economic and trade cooperation between Vietnam and Taiwan (China) has strongly expanded in recent years.
In the first six months of this year, Taiwan ranked third among 50 countries and territories running investment in Vietnam. Vietnam mainly ships telephones and spare parts, textiles and farm products to Taiwan, while importing machines and equipment, computers and materials for textile and garment.
According to the Foreign Investment Agency under the Ministry of Planning and Investment, Taiwanese investors have mainly injected money into processing and manufacturing industries, water supply, waste treatment and logistics services.
Taiwanese investors’ projects were present in 17 out of the 63 cities and provinces across Vietnam in the period. The southern province of Tien Giang took the lead in the number of projects and the amount of investment capital. It was followed by the central province of Ha Tinh.
According to the Foreign Investment Agency under the Ministry of Planning and Investment, Taiwan had 39 newly-licensed projects and 25 others with capital adjustments, worth over 664 million USD in total. Taiwanese investors injected money into 10 out of 21 economic sectors in Vietnam, mainly in processing and manufacturing industries, with more than 600 million USD going to 28 new projects and 22 existing ones.
Other attractive fields include water supply, waste treatment and logistics services. China’s Taiwan ranked third among 50 countries and territories running investment in Vietnam in the first four months of 2016.
