Vietnam, Taiwan boost industry cooperation

Vietnam and China's Taiwan boast substantial potential for trade and investment cooperation, especially in building supply chains in production and processing, experts said at a forum in Ho Chi Minh City on Tuesday. According to Vu Tien Loc, President of the Vietnam Chamber of Commerce and Industry (VCCI), Vietnam is attracting a great deal of FDI capital thanks to new free trade agreements.

Mr. Loc said Vietnam will prioritize those who have high tech applications, create more added value, are more environment-friendly, and work closely with Vietnamese enterprises.

He said he hopes Taiwanese businesses will develop support products and help local firms join the global value chain.

Wang Wen-yuan, Chairman of Taiwan's Chinese National Federation of Industries, said Vietnam has become attractive to foreign investors and is an investment destination Taiwan has targeted in its development strategy, adding that Taiwan wants to invest in Vietnam's garments, textiles, footwear, and support industries.

Source: VOV5