PSNews – Vietnam has become more attractive to Taiwanese investors, said Mr. James Chen-Jung Hsiao, senior negotiator of the Taiwan Office of Trade Negotiations, during a meeting with international journalists in early November.
At the meeting with a delegation of international journalists visiting Taipei to learn about the new Southward policy of the Taiwanese government, Mr. James Chen-Jung Hsiao affirmed that, Taiwan wants to create connection, trade and cooperation with countries in Southeast Asia, South Asia, Australia and New Zealand.
Over the past years, Taiwan has always placed Southeast Asia at the center of its development cooperation policy. Taiwan is now one of the important partners of ASEAN countries in training high quality human resources, and it also receives a large number of workers from this region. In doing so, Taiwan makes an important contribution to socio-economic development of Southeast Asian countries.
“Under the new Southward policy launched in 2016, Taiwan is actively promoting and developing trade and investment cooperation with Southeast Asia, in which Vietnam is one of our key partners in terms of bilateral economic cooperation”, Mr. James Chen-Jung Hsiao said.
After 3 years of its implementation of the policy, Southeast Asian countries became Taiwan’s second largest trading partner with a total trade value of 117.1 billion USD in 2018. Among Southeast Asian countries, Vietnam, which has a stably high economic growth rate and a large market with diverse consumer needs, is always the first choice of Taiwanese enterprises when investing in Southeast Asia. For a long time, Taiwan has remained Vietnam’s fifth largest trading partner.
According to Mr. James Chen-Jung Hsiao, Taiwan and Vietnam have had a traditional relationship. Currently, there are more than 6,000 Taiwan enterprises investing in Vietnam and Vietnam is Taiwan's 9th largest trading partner.
Vietnam is also a member of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). Therefore, Taiwanese businesses in Vietnam can benefit from the deal. This is an advantage of Vietnam compared to other economies in the region. It also helps Taiwan's economic activities become more diverse in Vietnam. Taiwan also hopes for a membership of CPTPP in the near future.By An Nhien