Taiwanese firms seek local partners

illustration photo source: SGT

Speaking to Viet Nam News on the sidelines of a meeting between 48 Taiwanese companies and their Vietnamese counterparts in HCM City yesterday, John Tang, director of the Taitra office in HCM City, said Taiwanese companies have invested in garment and textile and footwear, and eye investment high-tech industries next.

This is a major reason for holding business meetings every year between Taiwanese and Vietnamese companies, with the hope being that co-operation opportunities would spring up as a result.

The visiting executives this time are mostly from the auto parts, health care, and electronics industries.

Another 39 Taiwanese companies are taking part in the International Plastic and Rubber Industry Exhibition being held in HCM City to showcase their latest products and explore collaboration and development opportunities in the Vietnamese market.

"Taiwan is an indispensable part of the global plastics and rubber industry and Viet Nam is among Taiwan's top 10 trading partners in the world for a wide variety of goods, Hsien Chao Tseng, director of the commercial division at the Taipei Economic and Cultural office in HCM City, said.

"Plastics represent one of the top Taiwanese exports to Viet Nam."

Speaking about the exhibition, Tang said "since Viet Nam aims to develop its own supporting industry and since the rubber and plastic industry is one of the cornerstones of a strong supporting industry, I believe that Taiwan's expertise and experience in production and use of rubber and plastic machinery will help Viet Nam develop its supporting industry."

To increase Viet Nam's exports to Taiwan, Taitra has suggested that Vietnamese companies should improve product quality while reducing prices.

Furthermore, Vietnamese companies should invest in cuisine and restaurants since Taiwanese like cultural diversity, it said.