Taiwan Tops among Foreign Investors in Vietnam in Jan-August
Taiwan has pledged to pour US$8.6 billion into 112 projects in Vietnam in the first eight months of this year, ranking the first among countries and territories directly investing in the country, said the Ministry of Planning and Investment (MPI).
The figure of US$8.6 billion accounts for 14.5 per cent and 18.6 per cent of the country’s total FDI capital and FDI project number during the span, the MPI reported.
The US$7.9 billion steel and seaport project in central province of Ha Tinh by the Hung Nghiep Formosa Vietnam under the Formosa Group is Taiwan’s biggest project in Vietnam.
The wholly Taiwanese-invested company has also added US$160 million to its projects in the Nhon Trach 3 industrial zone, raising its total investments in Dong Nai province to US$1.12 billion and making it the biggest foreign investor in the southern province.
Meanwhile, Taiwan Plastic Group Chairman Wang Yung-ching is cited by the Hong Kong-based Oriental Daily News as saying that his company would ignore opportunities in Vietnam despite the country remains an attractive investment destination.
Several Taiwanese companies have shifted their cash from traditional industries such as apparel and leather shoe making to hi-tech industries, including production and assembly of laptops and mobile phones as Vietnam are offering more incentives for hi-tech projects.
Vietnam has become the top choice of Taiwanese investors for its advantages, particularly intensive-labor projects, said an official from the Taiwanese Commercial Association. (VNA)
Vietnamese
