Wave of Taiwanese enterprises comes to Vietnam's shores

During the event, Tran Duy Dong, Deputy Minister of Planning and Investment, said that in recent years, Taiwan has consistently been among the top foreign investors in Vietnam.

"In 2023, investment from Taiwan into Vietnam reached $2.2 billion, quadrupling on-year," Dong said. "Cumulatively, Taiwan currently ranks fourth out of 105 countries and territories pouring money into Vietnam, with nearly 3,200 projects and a total registered capital of over $39.5 billion."

"Taiwan has also become Vietnam's fifth-largest trading partner," he said.

According to CY Huang, chairman of the Southeast Asia Impact Alliance, Vietnam is an attractive destination for Taiwanese investors and a crucial link in the Southeast Asian supply chain relocation trend.

Huang said that the cultural similarities between Vietnam and Taiwan, which help reduce communication barriers and facilitate favourable conditions for investment cooperation. Furthermore, Vietnam's young population, high economic growth rate, and diverse industries present opportunities for Taiwanese businesses to expand their investments.

Expressing satisfaction with the cooperation between enterprises of both countries, Dong proposed that Taiwanese businesses enhance technology transfer, increase localisation rates, and support skilled labour training.

He also expressed hope that Taiwanese enterprises would adhere to local laws and actively collaborate with local businesses, showing concern for the livelihoods of workers and engaging in social work.

"Vietnam encourages and promotes Taiwanese businesses to invest in fields such as science and technology, electronics, and semiconductors, areas where Taiwan excels, and which align with Vietnam's development direction," Dong said

Inventec, a global leader in high-powered servers headquartered in Taiwan, has received an investment certificate to develop a $125 million manufacturing factory in Hanoi.

Good Way Cayman Co. Ltd. from Taiwan (China) held a groundbreaking ceremony for a large-scale plant manufacturing computers and their peripheral equipment at the Lien Ha Thai Industrial Park in the northern province of Thai Binh on February 19.

Taiwan's IBASE Technology Inc. (TPEx: 8050), a renowned manufacturer of reliable industrial computing platforms, broke ground on its new manufacturing site in the northern province of Vinh Phuc on March 27.