VTBA Chairman shares the reason why Foxlink Group chose Da Nang to invest in the project
Participating in promoting the Foxlink Group's investment project in Da Nang, the Chairman of the Vietnam - Taiwan Business Association said there were three reasons why the locality was chosen: infrastructure, investment incentives; human resources and "friendly government".
Continuing the wave of migration
At the International Cooperation Workshop to promote business investment taking advantage of new trends organized by the People's Committee of Da Nang City, Ms. Ngo Pham Tran, President of the Vietnam - Taiwan Business Association (China, abbreviated VTBA) said that from 2016 to now, due to the global economic situation, there has been a wave of many leading electronics corporations from Taiwan (China) gradually shifting and choosing Southeast Asian markets to invest, including Vietnam.
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| Ms. Ngo Pham Tran, President of the Vietnam - Taiwan (China) Business Association, said that in the near future, there will continue to be a wave of movement, following the supply chain of Taiwanese component corporations to Vietnam. |
According to statistics, Vietnam is currently the leading country in terms of ICT factories – moving components choosing as investment locations. Currently, large Taiwanese corporations such as Foxconn, Foxlink, Wistron, Pegatron… (six largest Taiwanese corporations present in Vietnam) have chosen Vietnam to invest, especially in the northern provinces and Da Nang.
“In the coming time, many Taiwanese component corporations will also gradually move and follow the supply chain to Vietnam,” said the Chairman of VTBA.
3 reasons to choose Da Nang
With the experience of successfully promoting the project of Foxlink Electronics Group invested in Da Nang (investment capital of 135 million USD), the Chairman of VTBA shared that "before investing in Da Nang, we went to more than ten provinces and cities, from North to South, and finally chose to invest in Da Nang. At that time, people asked why we chose Da Nang to invest".
Explaining this choice, the VTBA representative said, “We chose Da Nang because, first of all, Da Nang has a high-tech park where qualified corporations can enter and receive many incentives in terms of land rent, corporate tax…”.
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| VTBA representative shared the reasons why Foxlink Group chose Da Nang for investment. |
Second, when investors come to invest abroad, the most important thing is human resources. Currently, factories in high-tech zones all have skilled, high-quality human resources and Da Nang has many universities that train in engineering, and lecturers at many schools are also well-trained abroad.
“When surveying for investment, this was one of the highlights that attracted Foxlink Group to choose to invest in Da Nang,” Ms. Tran emphasized.
At the same time, Da Nang is currently planning to attract investment in electronics and semiconductors in the coming time, which is a more prominent and unique point than other localities. "I think that if qualified, corporations should boldly research deeper to invest here," the Chairman of VTBA suggested.
Third, when foreign investors invest, “friendly and business-supportive government” is very important. Every year, many investment delegations come to Vietnam, visit provinces and cities to survey and choose investments. For all investors, “friendly government is one of the top priorities for investors to choose”.
And Ms. Ngo Pham Tran said that the Da Nang City government is "very friendly and supportive of businesses".
In the near future, Foxlink Group's factory in Da Nang is preparing to go into operation after Tet and is also gradually being completed. This, Ms. Ngo Pham Tran thinks, means that upcoming electronic supply chains will also choose Da Nang for investment.
Regarding the needs of enterprises, the Chairman of the Vietnam - Taiwan Business Association (China) said that in the near future, Taiwanese electronics enterprises as well as member enterprises of VTBA are also looking forward to cooperating with Da Nang on trade and financial centers. Some industries related to semiconductor microchips, semiconductor packaging and testing, VTBA is also in need and is selecting and surveying.
“This is a new starting point. Besides electronics, Da Nang is also a very attractive place for semiconductor and microchip investors to choose,” affirmed the Chairman of VTBA.
In 2023, VTBA will establish a Campus-within-campus model of the electronic supply chain in Industrial Park No. 05, Hung Yen province.
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