Chairman of VCCI Pham Tan Cong, Head of the Taiwan Affairs Committee emphasized at the "Vietnam-Taiwan Business Forum" on the afternoon of April 8th.

Chairman of VCCI Pham Tan Cong, Head of the Taiwan Affairs Committee

Speaking at the forum, Chairman of VCCI Pham Tan Cong stated that 35 years ago, Taiwanese enterprises were the first investors to come to Vietnam to implement investment projects and had made significant contributions to the transformation and development of Vietnam's economy. Vietnam - the convergence of trade and international investment

"Taiwan is one of Vietnam's leading and important economic partners, ranking as the fourth largest investor in Vietnam with nearly USD 40 billion in FDI, and also the fifth largest trading partner with bilateral trade turnover of about USD 25 billion," said Chairman of VCCI Pham Tan Cong.

So far, Taiwanese investors have been present in almost all provinces and cities of Vietnam from North to South. In particular, Taiwanese investment over the past 30 years has undergone a qualitative change from labor-intensive industries such as textiles, footwear, and wood products in the 1990s to high-tech electronics industries now.

"At present, the majority of large Taiwanese electronics conglomerates such as Foxconn, Wistron, Qisda, Pegatron, Compal, Quanta... have invested in Vietnam. This is a promising sign for the cooperation between the two sides," expressed Chairman of VCCI Pham Tan Cong.

In recent years, despite the impact of the Covid-19 pandemic and the challenges of the global economy, economic, trade, and investment cooperation between Vietnam and Taiwan continue to grow.

While global investment tends to decline, Taiwanese investment in Vietnam reached over USD 2.7 billion in 2023, doubling compared to 2022.

"These figures show that Taiwanese investment in Vietnam will continue to trend upwards in the coming years, and I hope that every delegate present at today's forum will be a bridge for Taiwanese investors to find a harbor in Vietnam," emphasized Chairman of VCCI Pham Tan Cong.

According to Chairman of VCCI Pham Tan Cong, the Vietnamese economy has maintained a high growth rate consistently over nearly 40 years and is showing bright prospects. Vietnam's GDP scale in 2023 ranked in the TOP40 globally, while its international trade scale ranked in the TOP20 globally.

Vietnam consistently ranks in the TOP10 globally in attracting FDI, and its business environment is always being improved to create the best conditions for investors. Vietnam has an open economy, is an attractive destination, and serves as a convergence point for international trade and investment activities. Vietnam has signed over 90 trade agreements and 60 bilateral investment promotion and protection agreements, and is a member of 16 free trade agreements with the participation of about 60 leading economies in the world.

Vietnam is currently assessed as one of the crucial links in the global trend of production and supply chain shifts, especially in the electronics and high-tech industries, both globally and in the Asian region.

"In addition, the Vietnamese government's orientation towards digital transformation and building a green economy is also a positive factor for Taiwanese investors to leverage their strengths when investing in Vietnam," emphasized Chairman of VCCI Pham Tan Cong. The success of Taiwanese enterprises is the success of VCCI.

With a population of over 100 million people, Vietnam has a young and abundant labor force and is a sizable market with an increasingly improving standard of living. Vietnam maintains balance and stability in its relations with the world's leading powers.

Chairman of VCCI Pham Tan Cong affirmed that the success of Taiwanese enterprises in Vietnam is also the success of VCCI and the business community in Vietnam.

Maintaining its international position and being a leading country in terms of peace and political-social stability in the world, Vietnam provides a foundation for economic development in the coming period. Vietnam is also striving to join the group of developed countries with high income by 2045. This is the goal, the aspiration, the common motivation of the nation as well as every Vietnamese citizen and business.

"All the factors mentioned above create a very good foundation and opportunities for Taiwanese and Vietnamese businesses to participate more actively in the new development stage of Vietnam's economy, a stage where Vietnam is rising to become a developed country," emphasized Chairman of VCCI Pham Tan Cong.

Fields such as high technology, electronics industry, semiconductor industry, green economy, digital economy, circular economy, innovation, renewable energy... will create many opportunities for Vietnamese and Taiwanese businesses to cooperate and succeed in both the Vietnamese market and the global market.

As a national organization with the mission to support the business community in Vietnam, VCCI always accompanies Vietnamese as well as Taiwanese enterprises, promoting the protection of the legitimate rights, interests, and legal benefits of businesses.

"Taiwan has a leading semiconductor industry in the world, so the opportunities for cooperation between the two sides in this field are immense. I hope that all delegates and businesses present today will join efforts with us to promote Vietnam - Taiwan cooperation in this area," shared Chairman of VCCI Pham Tan Cong.

Chairman of VCCI Pham Tan Cong affirmed that the consistent viewpoint of the Vietnamese government is to create a favorable, safe, and equal business environment for the development of enterprises, without discrimination between domestic and foreign businesses.

As a national organization with the mission to support the business community in Vietnam, VCCI always accompanies Vietnamese as well as Taiwanese enterprises, promoting the protection of the legitimate rights, interests, and legal benefits of businesses.

"The success of Taiwanese enterprises in Vietnam is also the success of VCCI and the business community in Vietnam," said Chairman of VCCI Pham Tan Cong.