Busi­nesses at­tracted to Viet­nam’s fast-grow­ing mar­ket

The China Post - - LOCAL -

Viet­nam’s fast- grow­ing mar­ket has at­tracted a large num­ber of Tai­wanese com­pa­nies that plan to in­vest in the coun­try in the com­ing years.

John Tang, di­rec­tor of the Tai­wan Trade Cen­tre ( TAITRA) of­fice in Ho Chi Minh City, said Tai­wanese com­pa­nies were among the first for­eign in­vestors in­vest­ing in Viet­nam.

Tang spoke to the press on the side­lines of a meet­ing of 33 Tai­wanese com­pa­nies and their Viet­namese coun­ter­parts in Ho Chi Minh City.

About 500- 600 Tai­wanese firms op­er­ate in the city. Most of them make prod­ucts for ex­port.

In the fu­ture the com­pa­nies are ex­pected to make prod­ucts for both Viet­namese and ex­port mar­kets. Many re­tail­ers are also ex­pected to en­ter Viet­nam’s re­tail mar­ket, as it has a high growth rate.

In ad­di­tion, Tai­wanese firms plan to in­vest in a textile pro­duc­tion chain in Viet­nam in the com­ing time to ben­e­fit from the up­com­ing Trans Pa­cific Part­ner­ship ( TPP), Tang said.

The vis­it­ing Tai­wanese com­pa­nies op­er­ate in two ma­jor seg- ments, daily com­modi­ties and in­dus­trial goods and equip­ment. They hope that co- op­er­a­tion op­por­tu­ni­ties be­tween Tai­wanese and Viet­namese coun­ter­parts will ma­te­ri­al­ize soon, Tang said.

The busi­ness meet­ing was part of a trade mis­sion held by the Tai­wan Ex­ter­nal Trade De­vel­op­ment Coun­cil to Viet­nam, Thai­land and In­done­sia from Aug. 24 to Sept. 2.

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