Taiwanese businesses invested US$47 million in Vietnam in the first quarter of this year. The investments included 14 new projects and five expansion projects. That’s the word from Vietnam’s Ministry of Planning and Investment.
Taiwan has invested over US$28 billion in over 2,400 projects in Vietnam since statistics were first kept in 1988. Taiwan is the fourth largest foreign investor in Vietnam.
Over 80% of Taiwan’s investments have been in the manufacturing and the processing sector while the other two top sectors were real estate and construction.
As labor costs in China have gone up, many Taiwanese businesses have moved their factories to Southeast Asian countries like Vietnam.