A delegation of the Taiwan Electrical and Electronic Manufacturers’ Association (TEEMA) has visited cities and provinces in northern Vietnam to discuss further cooperation as part of the global trend of supply chain diversification.
At a Wednesday meeting with Hai Phong authorities, Chen Hung-Chin, CEO and chairman of Wieson Technologies Co Ltd., also head of the delegation, highly rated the northern city’s business environment, especially the transport system of seaports, deep-water ports, and an airport.
Hai Phong officials listed suitable locations for investments, including Dinh Vu-Cat Hai Economic Zone, Deep C Industrial Park, and Nam Cau Kien Industrial Park.
Hai Phong Economic Zone Authority (HEZA) said that the northern coastal city has so far attracted 947 foreign direct investment projects with registered capital of $24.95 billion. Of these, 60 Taiwanese investments worth $1.6 billion focus on electronic components, machinery, industrial gas, and others. Notable projects include the $800 million invested by Pegatron, $215 million by Universal Scientific Industrial, and $89 million by Lite-On.
On the same day, the Taiwanese mission surveyed Bao Minh Industrial Park in Nam Dinh province. Nam Dinh Vice Chairwoman Ha Lan Anh affirmed the province would facilitate investors from Taiwan while noting that Taiwan’s current investments in Nam Dinh province, worth $290 million, focus on apparel-textile, footwear, metal production, and others.
On Tuesday, the business mission visited Hai Duong province and inspected the infrastructure at Cong Hoa and An Phat 1 Industrial Park. Hai Duong province has so far attracted 496 FDI projects, including 46 from Taiwan, mostly in the sectors of cement, apparel-textile, footwear, animal feed, and others.
In Bac Ninh province on Monday, provincial authorities told the mission 10 Taiwanese firms have invested in Bac Ninh. For example, technological giant Foxconn has invested nearly $1 billion in Que Vo Industrial Park in Bac Ninh and Quang Chau Industrial Park in Bac Giang province. So far, Taiwanese investment in Bac Ninh has reached $666 million with 86 projects.
At a working session with Viettel, the Taiwanese mission affirmed it is willing to cooperate with the Vietnamese telecom giant in designing and manufacturing electronic components as part of the transition to the Southeast Asian nation.
The delegation added that the U.S.-China trade war has forced them to relocate factories in China to Southeast Asia, and this is an opportunity for Viettel to join the global research and supply chain of semiconductors and electronic components.
Vietnam had attracted 36,881 valid FDI projects with total registered capital of $444.07 billion as of March 20, 2023, according to the Ministry of Planning and Investment. Taiwan (China) is the fourth largest investor with 2,943 projects worth $36.89 billion.