Taiwanese out to court hot local partners

The 72 enterprises, operating in green energy, consumer commodities, electronics, beauty services and health protection, and industrial products, want to introduce high-value products to Vietnamese partners.

“Over many years, Taiwan has been a leading trade and investment partner to Vietnam. Presently, Vietnam has 500,000 businesses ready to cooperate with the Taiwanese business community,” said Pham Gia Tuc, vice chairman of Vietnam Chamber of Commerce and Industry (VCCI).

The VCCI pledged to support Vietnamese and Taiwanese business community cooperation, he said.
Meanwhile, Taipei Economic and Cultural Office in Hanoi chief representative Huang Chih Peng said: “Taiwan is the biggest foreign investor to Vietnam. Besides inland China, Vietnam is the most attractive destination for Taiwanese investors, which has shown that Vietnam’s investment climate appeals to foreign businesses.”

Teresa Huang, sales manager of Yue Seng Industrial, said: “Vietnam is a potential market for our products. We have exported to the country for 10 years and will further increase shipments to the Vietnamese market in the coming time.”

Yue Seng ships some 100 tonnes of hot and cold rolled (HR/CR) steel sheets to Vietnam per year. The company is seeking to export other products such as stainless steel, HR/CR coils, plate and stainless steel welded pipe and tubes to Vietnam.

Sharlene Yeh, marketing and sales representative of Camsco Electric, said: “Vietnam has great potential for electrical components. We now have clients in Ho Chi Minh City and are looking for market expansion to Hanoi for our products.”

Over the eight months of this year, bilateral trade between Vietnam and Taiwan climbed over $6 billion, including Vietnam’s $5.1 billion imports from Taiwan, up 34 per cent on-year and $960 million exports to Taiwan, up 22 per cent on-year.

Vietnam’s key imports from Taiwan are petroleum, cloths, plastics, iron and steel while its main exports to the foreign market are garment and textile, rubber and aquatic products. Taiwan is also one of the leading foreign investor in Vietnam with 2,400 projects, capitalised at more than $23 billion.