Taiwanese firms eye investment in Hai Phong

The Hai Phong Economic Zone Authority (HEZA) on September 12 hosted a meeting with a business delegation from Taiwan (China) to introduce cooperation and investment opportunities in the northern city.
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C.Y. Huang, head of the delegation, speaks at the event. (Source: VNA)

C.Y. Huang, head of the delegation, said Taiwanese businesses are tending to expand their investment globally and they are especially interested in Hai Phong.

In 2022, with HEZA's support, Taiwanese businesses had a working session with representatives of VinFast automobile factory of Vingroup to expand cooperation in manufacturing spare parts for electric cars, he said.

Director of HEZA Le Trung Kien said in the first weeks of September 2022, HEZA welcomed two business delegations from Taiwan, wanted to explore the business and investment environment in Hai Phong.

He expressed his wish that Taiwanese businesses will soon cooperate with VinFast to form an industrial development and production ecosystem.

HEZA will create all the most favourable conditions, especially in administrative procedures, to support investors and businesses to study and deploy their investment activities in Hai Phong, Kien stressed.

The authority introduced competitive advantages, synchronous transport infrastructure, and preferential policies in economic zones and industrial parks in Hai Phong city to the guests.

Representatives of industrial park infrastructure development enterprises in Hai Phong gave an overview of industries that the municipal authorities are calling for investment in IPs.

According to HEZA, as of August 31, 2022, Hai Phong was home to 60 Taiwanese investment projects worth 1.46 billion USD, accounting for 6.1% of the total foreign direct investment (FDI) capital poured into the city, including 27 projects in IPs and economic zones with a total capital of 1.25 billion USD.

Taiwanese enterprises in Hai Phong are mainly operating in manufacturing electronic components, industrial gas, machinery and equipment, and packaging. They create stable jobs for 8,400 employees with an average income of 10.5 million VND (over 446 USD) per month.

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(Source: VNA)