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Expand trade opportunities with Taiwanese businesses

Nearly 100 Dong Nai and Taiwanese investment enterprises participated in the "Dong Nai - Taiwan FDI enterprises" conference organized by the Department of Industry and Trade in cooperation with the Taiwanese Trade Association in Dong Nai on July 28.​


​This is the first time that Dong Nai held a trade conference with Taiwanese FDI enterprises to create favorable conditions for domestic enterprises to meet potential partners and seek business cooperation opportunities.
Taiwan attaches importance to the investment environment in Dong Nai
Up to now, the province has over 1,700 FDI projects with a total capital of more than US $ 30 billion, of which 282 are Taiwanese enterprises with a total investment of 5.2 billion USD, ranking second in the list of countries and regions investing in Dong Nai.  According to the provincial People's Committee, the demand for trade, import and export of goods between enterprises in the province and Taiwan partners are growing. However, the balance between import and export between the two sides is quite different, Dong Nai mainly import. Specifically, for the first 6 months of 2017, export of Dong Nai to Taiwan was about 162 million, while the import was 775 million. However, export growth in the first half of this year was impressive with an increase of 32.7% over the same period in 2016.
Dong Nai has imported machinery, plastics and steel from Taiwan; Meanwhile, exports are still relatively limited with textiles, footwear, ceramics and furniture.
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 Taiwan enterprises visit supporting industry booth from Vietnam at the trade conference.
 
 "Dong Nai is aiming to diversify its export markets and support enterprises in the province to connect production and business activities with FDI enterprises in order to take advantage of preferential opportunities from economic integration. Therefore, trade opportunities are very open. We always encourage foreign enterprises, including Taiwan, to cooperate with enterprises in the province," said Vice Chairman of the provincial People's Committee Tran Van Vinh.
 
At the conference, Taiwanese Trade Union Association Chairman in Dong Nai Tri Minh Minh said that the Taiwanese business community attaches great importance to doing business at the locality. The official investment figure is only $ 5.2 billion, but if the capital through the third country is taken into account, Taiwanese businesses have contributed $ 8 billion to do business in Dong Nai.
 
According to Mr. Minh, most of the Taiwanese businesses investing in Dong Nai have to import raw materials, so the product has a high price, which partly reduces competitiveness when exported. It is worth mentioning that, many Vietnamese enterprises in Dong Nai have produced various kinds of materials which had to be imported in the past time. Therefore, through this trade conference, the desire of Taiwanese businesses is to seek potential partners in Vietnam. "We will call on member enterprises to promote cooperation in order to compete on price, information on this policy is also disseminated to Taiwanese enterprises," Mr. Minh shared.
 
More cooperation opportunities
 
At the trade conference, representatives of Taiwanese and Dong Nai enterprises shared information on the needs of the two parties in order to create opportunities for cooperation and supply of products.
 
Mr. Peter Wu, General Director of Sheng Bang Metal Company, (Song May Industrial Park, Trang Bom) said that the company produces mainly medical equipment and exports goods to Japan. The company is ready to cooperate with Vietnamese enterprises. "In the near future, we will expand the manufacturing facility so the demand will certainly increase and we expect enterprises in Dong Nai to be able to provide by-products to reduce imports," said Peter Wu. Similarly, representatives of Crest Top Vietnam Company said that the company also has demand for supplying raw materials and auxiliary materials for the production of automobile and motorcycle parts...
 
As for enterprises in Dong Nai, Director of Dai A Thanh limited company Le Tri Minh said that since the electronic components for the refrigerator and washing machine industry of the company have been supplied to Japanese partners in Dong Nai, the company is perfectly confident in cooperating with Taiwanese businesses.
 
Director of An Phu Thinh Joint Stock Company Vo Thanh Tuan hopes that through this trade conference, the company will sign a contract to supply labor protective gloves to Taiwanese enterprises. Mr. Tuan said that the company's products have been exported to Korea and Japan. In contrast, An Phu Thinh also needs to buy cotton fiber materials from Taiwanese enterprises to make gloves for export in large quantities
 
Head of the Taiwanese Trade Association in Dong Nai Gian Minh Minh highly appreciates the quality of Dong Nai's products, especially the supporting industries, and considers this a favorable condition for enhancing the mutual cooperation. However, Mr. Minh said that Taiwanese enterprises lacked information on the production capacity of Vietnamese enterprises. If the problem is resolved, the potential for production cooperation is significantly high.
 
Dong Nai enterprises are welcomed to promote products
 
"Every year we hold the conference to meet our members and the event is scheduled to be held in September this year. Through the meeting with enterprises of both parties today, we invite Vietnamese enterprises to take this occasion to display and introduce their products. The Taiwan Business Association will provide the list of members to the Department of Industry and Trade. The Department will select Vietnamese businesses with good products and prestige to ensure durable interests for both parties," said Mr. Gian Tri Minh, president of the Taiwanese Trade Association in Dong Nai.
 
 
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