Taiwan’s total direct investment capital in Vietnam exceeds $31 billion, primarily focussed on production and processing, and significantly contributing to the country’s export revenue, particularly of garment-textile and footwear, Vietnam Chamber of Commerce and Industry (VCCI) president Vu Tien Loc told a forum in Ho Chi Minh City recently.
Wang Wen-yuan, chairman of Taiwan’s Chinese National Federation of Industries, said Vietnam is an investment destination Taiwan has targeted in its development strategy. Taiwan wants to invest in garment-textile, footwear and support industry in Vietnam in the time ahead, he added.
Vu Duc Giang, president of the Vietnam Textile and Apparel Association (VITAS), said VITAS hopes to soon set up an information exchange channel with Taiwanese garment-textile firms in Vietnam to connect supply sources of materials with the local garment-textile sector, according to a news agency.
Giang called on Taiwanese businesses to increase investments in yarn, weaving and dying steps in Vietnam to ease the country’s shortage of materials.