In Celebration of the 108th Double Tenth National Day

On October 10th, 2019, Ph.D. Tran Dinh Lam - Director of Center of Vietnam and Southeast Asian Study participated in the 108th celebration of the National Day of the Republic of China, organized by the Taipei Economic and Cultural Office in Ho Chi Minh City at Nikko Hotel.

Attending the ceremony were Assoc.Prof.Dr. Ngo Thi Phuong Lan - the Rector of Ho Chi Minh University of Social Sciences and Humanities (HCMUSSH), Assoc.Prof.Dr. Nguyen Danh Thao - Vice-Rector of Ho Chi Minh University of Technology, Dr. Tran Anh Tien, Head of Office of External Relations and Research Affairs, HCMUSSH. There are also representatives from the Diplomatic corps and Vietnamese and Taiwanese businesses.

Speaking at the celebration, Mr. Chung Wen Cheng - Director General of Taipei Economic and Cultural Office highly appreciated the important and potential trade relationship with Vietnam.

Mr. Chung Wen Cheng speaking at the celebration (Credit: Taipei Economic and Cultural Office, HCM) 

The situation of trade cooperation in recent years between Vietnam and Taiwan has made great progress. Vietnam has become a large and potential market for Taiwanese businesses. Vietnam - Taiwan trade relations have continuously developed in past years, bringing the two economies great sources of revenue.

Taiwan is one of Vietnam’s important business partners in recent years. The trade relations between the countries have been progressively developing. According to the Taiwan Economic Agency, Taiwan’s investment in Vietnam reached NT$ 680 million in 2017.

Vietnam has become a large and full-of-potential market for Taiwanese businesses. At the same time, Taiwan remains Vietnam's 5th largest trading partner. As of July 2019, the total bilateral import-export revenue hit US$ 10,7 billion. In particular, Vietnam import US$ 8.5 billion worth of goods from Taiwan and export to Taiwan reached US$ 2.2 billion.

Talking at the meeting, Mr. Cung Vinh Nam - Head of Taipei Economic and Cultural Department in Ho Chi Minh City highly appreciated the integration ability of the Vietnam economy. He hoped that Vietnam would continue to improve and learn from the practical experiences of Taiwan investors, steadily practice economic autonomy and always be an attractive destination for foreign investors. Thereby, domestic investors have the opportunity to integrate internationally and contribute their strength to the future of Vietnam.

According to the World Economic Forum's Global Competitiveness Report (WEF), Taiwan is ranked 13th among 140 countries and 4th in the Asia-Pacific region. Taiwan is considered on par with Germany, the United States, and Switzerland as the four countries with great creativity, economic stability ranked 1st and the financial system ranked 7th globally.

Due to the similarities in commercial vision and indigenous culture, the strong partnership between Vietnam and Taiwan has been established.

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