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Taiwan's fastener players investment in Vietnam booming

17 Jan 2023 16:15 reported by Sherry Yu

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Taiwan's fastener industry had been inputting good investment in Vietnam purchasing lands, buildings, and factory facilities. The activities reached the peak in 2022 to show the total foreign investment total up to VND 8,857 trillion, a 13.1% increase, with a foreign investment net profit after tax of VND 9,455 trillion, an 8.8% hike.

According to Vietnam's Ministry of Finance, among the 2022 foreign investment industry rank list, manufacturing and processing ranked first, with VND 621.5 trillion.

Over the past ten years, the fastener industry in Taiwan was reluctant to invest in China but headed for Vietnam. The land and labor costs are relatively lower, the raw material is easy to come by as well, all these factors make Vietnam good potential to attract major players.

Moreover, the geopolitical factors highlighted in 2022 make Vietnam even hotter for the concept of "Taiwan +1" with a new production base.

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