Deputy Minister of Planning and Investment Tran Duy Dong speaks at the event. — VNA/VNS Photo

HÀ NỘI — Việt Nam has solidified its position as the most attractive investment destination for Taiwanese companies in Southeast Asia and globally, Deputy Minister of Planning and Investment Trần Duy Đông told the Việt Nam-Taiwan business forum in Hà Nội on April 8.

Investment from Taiwan (China) in Việt Nam surged in 2023, reaching US$2.2 billion, a fourfold increase from the previous year. This impressive growth placed Taiwan as the fourth largest investor in Việt Nam, out of 105 countries and territories, with nearly 3,200 projects valued at over $39.5 billion. Additionally, Taiwan has become Việt Nam's fifth largest trading partner.

Đông commended Taiwanese enterprises for their contributions to Việt Nam's economic development. He highlighted their role in fostering technology transfer, increasing the use of locally-produced materials, and upskilling the Vietnamese workforce. These efforts, he noted, contribute significantly to the establishment of robust global supply chains.

Phạm Tấn Công, Chairman of the Việt Nam Chamber of Commerce and Industry (VCCI) and Chairman of the Taiwan Affairs Committee, pointed out the extensive presence of major Taiwanese electronics conglomerates like Foxconn, Wistron, Qisda, Pegatron, Compal and Quanta in Việt Nam, saying that this is a promising signal for cooperation between the two sides.

On the occasion, the Việt Nam-Taiwan (China) 2024 international investment and trade promotion exhibition kicked off on April 8 and runs until April 9. The event, co-organised by DVL IPT Investment and Trade Promotion JSC and the World Taiwanese Chambers of Commerce (WTCC), provides a platform for networking and collaboration among businesses across various sectors.

Nguyễn Hồng Chung, General Director of the DVL IPT Investment and Trade Promotion JSC, said the event takes place during a pivotal year - Việt Nam marks its 35th anniversary of attracting foreign investment. Over the past three and a half decades, Taiwan (China) has emerged as a key partner, ranking fourth in foreign direct investment (FDI) with nearly $40 billion, and fifth in overall trade, with two-way trade of almost $25 billion. — VNS