Vietnam's fast-growing market has attracted a large number of Taiwanese companies that plan to invest in the country in the coming years, local newspaper Vietnam News reported Wednesday.
John Tang, director of the Taiwan Trade Center office in Ho Chi Minh City, said Taiwanese companies were among the first foreign investors investing in Vietnam. About 500 to 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 to benefit from the upcoming Trans Pacific Partnership (TPP), Tang said.
Under a trade mission held by the Taiwan External Trade Development Council to Vietnam, Thailand and Indonesia from August 24 to September 2, 33 companies from China's Taiwan are visiting Ho Chi Minh City to seek investment and trade opportunities.
The visiting firms operate mainly in production and trade of daily commodities and industrial goods and equipment.
