Taiwanese electronic firms survey Vietnamese market

A delegation of businesses from Taiwan Electrical and Electronic Manufacturers’ Association is seeking investment opportunities in Vietnam.

The association, during its visit from May 15-17, will meet with the Vietnamese Ministry of Planning and Investment to gather information about the benefits of investing in the country. They will also visit Compal Group’s factory in the northern province of Vinh Phuc.

After the Vietnamese visit, they will continue to Singapore and Indonesia to widen their perspective on the investment environment of Southeast Asia.

The delegation, led by Chairman Chiao You Chun, includes various representatives from member companies, including Winbond Electronics Corp, Kinpo Electronics, Inc., Universal Microelectronics Co., Ltd., AUO AU Optronics Corporation.

The member companies account for about half of Taiwan’s total GDP, with an annual production equal to $200 billion.

“Taiwanese electrical and electronic business have paid special attention to ASEAN, particularly the emerging market of Vietnam for its potentials over the past recent years,” chairman Chiao You Chun said, at a forum on investment in Vietnam held in Hanoi on May 15.

“This is the association’s second visit to Vietnam over the past three years. In the future, we intend to make periodic trips to Vietnam to survey the market here,” he addded.

Although he sees great potential for investment in the country, he said that, “Vietnam should focus on training and human resources if it wishes to develop the electrical and electronics sector.”

During the forum, Taiwanese companies who are already invested in ventures in Vietnam said that power shortages are one of the biggest challenges to doing business here. – VIR

Tags: Taiwan Electrical and Electronic Manufacturers’ Association