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VietNamNews

Taiwanese firms flock to Viet Nam

Update: August, 26/2015 - 09:03

The visiting Taiwanese companies operate in two major segments, daily commodities and industrial goods and equipment. — Photo cafef.vn

HCM CITY (VNS) — Viet Nam's fast-growing market has attracted a large number of Taiwanese companies that plan to invest in the country in the coming years.

John Tang, director of the Taiwan Trade Centre (TAITRA) office in HCM City, said Taiwanese companies were among the first foreign investors investing in Viet Nam.

Tang spoke to the press on the sidelines of a meeting of 33 Taiwanese companies and their Vietnamese counterparts in HCM City yesterday.

About 500-600 Taiwanese firms operate in the city. Most of them make products for export.

In the future the companies are expected to make products for both Vietnamese and export markets.

Many retailers are also expected to enter Viet Nam's retail market, as it has a high growth rate.

In addition, Taiwanese firms plan to invest in a textile production chain in Viet Nam in the coming time to benefit from the upcoming Trans Pacific Partnership (TPP), Tang said.

The visiting Taiwanese companies operate in two major segments, daily commodities and industrial goods and equipment. They hope that co-operation opportunities between Taiwanese and Vietnamese counterparts will materialise soon, Tang said.

The business meeting was part of a trade mission held by the Taiwan External Trade Development Council to Viet Nam, Thailand and Indonesia from August 24 to September 2. — VNS

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