An increasing interest in the Vietnamese market has been noticed amongTaiwanese investors, Director General Berton B.C. Chiu of the Departmentof Investment Services under the Ministry of Economic Affairs, Taiwan(China) said to Dau Tu (Investment Review).
Those businessmen are paying particularly high attention to the localindustries of agriculture, garment & textiles, IT and vehicularspare part, he noted.
Foreign apparel-makingenterprises are eager to erect plants in Vietnam supplying high-qualityproducts for domestic consumption and exporting them to Southeast Asiancountries, China, Japan, the Republic of Korea and European nations.
The vehicular spare part sector is also ripe with potential as thereis high demand in Vietnam and lowered taxes have been applied since thecountry joined the World Trade Organisation in 2007.
Meanwhile,following the Agreement on the Common Effective Preferential TariffScheme for the ASEAN Free Trade Area (CEPT/AFTA) taking effect inJanuary 2014, Vietnam has cut tariffs on imported motorbikes andautomobiles by 50 percent. The tax will be cut to zero percent in 2018.
Jack Lin, a representative of I-Mei Foods Co.,Ltd, which owns several Taiwanese rice cake trademarks in Hanoi, statedthat the robust Vietnamese economy and reduced taxes - a result ofseveral free trade agreements – have created favourable conditions forhis company to expand its operations in Vietnam.
The US and Taiwan-based Franz Collection Inc., a pottery producer, isseeking distribution partners in Vietnam to take advantage of thesignificantly lower tariffs imposed on imports, its representative SaraHuang revealed.
Considering this trend, Chiusuggested a Vietnam-Taiwan joint venture should be established for themutual benefit of both nations.
Taiwan is thefourth largest investor in Vietnam, with 2,306 projects worth 27.43billion USD employing 1.4 million workers. More than 80 percent ofTaiwan’s total investment is concentrated in the production andagricultural sectors.-VNA
Those businessmen are paying particularly high attention to the localindustries of agriculture, garment & textiles, IT and vehicularspare part, he noted.
Foreign apparel-makingenterprises are eager to erect plants in Vietnam supplying high-qualityproducts for domestic consumption and exporting them to Southeast Asiancountries, China, Japan, the Republic of Korea and European nations.
The vehicular spare part sector is also ripe with potential as thereis high demand in Vietnam and lowered taxes have been applied since thecountry joined the World Trade Organisation in 2007.
Meanwhile,following the Agreement on the Common Effective Preferential TariffScheme for the ASEAN Free Trade Area (CEPT/AFTA) taking effect inJanuary 2014, Vietnam has cut tariffs on imported motorbikes andautomobiles by 50 percent. The tax will be cut to zero percent in 2018.
Jack Lin, a representative of I-Mei Foods Co.,Ltd, which owns several Taiwanese rice cake trademarks in Hanoi, statedthat the robust Vietnamese economy and reduced taxes - a result ofseveral free trade agreements – have created favourable conditions forhis company to expand its operations in Vietnam.
The US and Taiwan-based Franz Collection Inc., a pottery producer, isseeking distribution partners in Vietnam to take advantage of thesignificantly lower tariffs imposed on imports, its representative SaraHuang revealed.
Considering this trend, Chiusuggested a Vietnam-Taiwan joint venture should be established for themutual benefit of both nations.
Taiwan is thefourth largest investor in Vietnam, with 2,306 projects worth 27.43billion USD employing 1.4 million workers. More than 80 percent ofTaiwan’s total investment is concentrated in the production andagricultural sectors.-VNA
