TAIPEI (Taiwan News) - According to the latest statistics published by Vietnam’s General Statistics Office, Taiwan’s investors stand as the fourth largest source of foreign capital in Vietnam, trailing only behind South Korea, Singapore, and China.
In the first quarter of this year, Vietnam attracted over US$7.71 billion in Foreign Direct Investment (FDI), a 77.6 percent increase from the same period last year, with most of the investment focused on processing and manufacturing sector and real estate sector, registering US$6.54 billion and US$343.69 million in foreign investment, respectively.
As many as 71 countries invested in the Southeast Asian country in the first three months of 2017, according to the statistics, with South Korea ranked first in terms of foreign investment capital at US$3.71 billion, accounting for 48.6% of the total FDI.
Singapore and China came in second and third at US$910.8 million and US$823 million, respectively, whereas Taiwan registered $644.18 million worth of FDI to come in fourth.
Under Taiwan’s “New Southbound Policy,” which seeks to forge closer trade and economic ties with countries in South and Southeast Asia, Vietnam is seen as one of the most important nations for Taiwan and is among the six targeted countries to be included in the first phase of the policy, along with the Philippines, Indonesia, India, Thailand, and Malaysia.