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  • Optimism in Asian manufacturing despite varied growth rates

    The Purchasing Managers’ Index (PMI) for Asian manufacturing in March shows varying recovery rates across the region, with Taiwan’s manufacturing sector on the rise and confidence among Taiwanese businesses reaching a nearly three-year high. Japan also saw improvement, while South Korea and Vietnam experienced contractions. Paul Smith from S&P Global Market Intelligence notes signs of price and supply stabilization supporting a more optimistic outlook for the Asian manufacturing sector.
    2024/04/01 18:23
  • Taiwan’s semiconductor college bridges talent gap: report

    Discover how Taiwan’s Semiconductor College in Hsinchu is attracting students from Vietnam to address the talent shortage in the semiconductor industry. Learn how Taiwan is leveraging Southeast Asian students to secure its position as a global leader in chip manufacturing.
    2024/03/26 13:59
  • Technical glitch takes down Meta platforms for hours

    Meta, the company behind Facebook and Instagram, experienced a global outage impacting users worldwide. The interruption, lasting over two hours, affected services such as Threads and Messenger. Taiwan, Japan, Vietnam, the UK, the Philippines, the US, and Hungary were among the countries affected. Meta’s spokesperson apologized for the inconvenience caused by the technical issue. The blackout sparked discussions on Taiwan’s PTT bulletin board, with users sharing their frustrations and surprise.
    2024/03/06 14:43
  • Vietnamese agency faces fine amid travel payment dispute

    Taipei-based WinnER International Travel Co. has ceased services for a Taiwanese tourist group visiting Phu Quoc Island in Vietnam during the Lunar New Year. The company has retained the group’s deposit and continued to charge fees, citing a violation of contract rules by Mega International Travel Service, which had not made the agreed payment. WinnER International signed a contract with Mega International on September 12, 2023, and received a deposit of NT$700,000 on January 18, 2024. The dispute arose when the two sides could not agree on the service price, leading to WinnER International sending a notice to stop providing service on January 31, which went unanswered. As a result, WinnER International asked each passenger to pay an additional US$720 to continue the journey. The Kien Giang Provincial Tourism Administration has deemed WinnER International’s actions a violation of regulations and will penalize the company for not adhering to travel contract regulations.
    2024/02/16 11:08
  • Taiwan dominates Vietnamese oyster market with 77% share

    Vietnam’s oyster exports experienced a substantial increase of 56% in 2023, surpassing US$14 million in value. Taiwan played a significant role in this growth, accounting for over 77% of Vietnamese oyster exports, marking a 26% increase compared to the previous year. The Vietnam Association of Seafood Exporters and Producers (VASEP) reported that the export value of Vietnamese shellfish products, including oysters, clams, and snails, reached US$127 million in 2023, showing a decline of 12% compared to the previous year. Among the shellfish exports, clams accounted for 62%, snails for 12%, and oysters for 11% of the total. While the export of Vietnamese clams and snails experienced decreases, oyster exports saw a remarkable surge, with Taiwan alone contributing to more than three-quarters of this growth, amounting to almost US$11 million. Other significant markets for Vietnamese oysters include Laos, Cambodia, and Japan. Clams remain Vietnam’s most crucial shellfish export, with an export value of nearly US$79 million in 2023, showing a 17% decrease from the previous year. This decline can be attributed to a significant reduction in imports by key markets such as Spain and Italy, which decreased by 15% and 36% respectively.
    2024/02/05 12:47
  • Taiwan leads Asian stocks as foreign funds return

    Foreign investors are showing renewed interest in Asian stocks, particularly in Taiwan, according to a report released on December 25. In the week of December 18 to 22, foreign funds flowed back into Asian stocks, with the Taiwan Stock Exchange attracting NT$643 million. South Korea also saw an influx of NT$602 million. South Korean stocks performed the best, increasing by 1.4%, followed closely by Thailand with a 1.01% increase. Indonesia, the Philippines, and Vietnam also experienced positive growth. However, Taiwan’s stocks unexpectedly fell by 0.44%, despite being favored by foreign investors. India’s stock market also dropped by 0.53% for the week. In terms of overall performance in 2023, Taiwan’s stocks related to the AI supply chain surged 24.47%, surpassing the gains made by India (16.87%) and South Korea (16.24%). Looking ahead, PGIM noted that Taiwan’s industry has already hit bottom, with November’s export orders totaling US$50.63 billion, driven by emerging technologies such as high-performance computing and artificial intelligence.
    2023/12/26 13:54
  • Taiwan’s new southbound investment tops China’s in 2023

    Taiwan’s investments in New Southbound countries in the first 11 months of 2023 have surpassed investments in Mainland China, according to the Ministry of Economic Affairs (MOEA). Investments in the New Southbound countries reached US$5.13 billion, a 7.26% year-on-year increase, outstripping investments in Mainland China, which stood at US$2.96 billion. This trend is driven by the supply chain diversification, accelerated by the U.S.-China trade war and major manufacturers’ strategies to decentralize operations. Investments in New Southbound countries now account for around 20% of Taiwan’s total overseas investments, whereas China accounts for approximately 11.5%. From January to November 2023, there were 2,102 approved cases of overseas-focused investments by Taiwanese and foreign entities, a decrease of 8.89% compared to last year. The amount invested reached about US$10.8 billion (approximately NT$323.7 billion), the second-highest for the period in the last 15 years but still representing a 13.04% decline from the previous year. Investments from New Southbound countries into Taiwan saw 609 approved cases within the same timeframe, an annual increase of 41.30%. The investment totaled approximately US$2.5 billion (about NT$75.7 billion), up 25.20% from the previous year, with the most significant inflows originating from Singapore, Thailand, and Malaysia. On a broader scale, the 504 approved cases of outbound investments from Taiwan marked a 2.44% annual increase, surging by 145.61% financially to roughly US$22.8 billion (approximately NT$684.4 billion). Investments in New Southbound countries revealed 195 approved cases, rising by 35.42% year-on-year, totaling around US$5.1 billion (approximately NT$ 154.1 billion) and constituting 20% of Taiwan’s total foreign investments. Singapore, Vietnam, and Thailand were the leading recipients. Conversely, approved investments in Mainland China amounted to 305 cases, down by 7.58%, with the approved investment sum decreasing by 33.91% to approximately US$2.96 billion (about NT$88.9 billion). Mainland Chinese investments in Taiwan experienced a 45.45% decline in approved cases to 24, with the investment figure falling 21.65% to about US$27.4 million (approximately NT$821.6 million).
    2023/12/20 20:45
  • Vietnamese beautician illegally earns NT$1M in Taichung

    A Vietnamese woman in Taichung, Taiwan, was discovered by the National Immigration Agency to have operated an illegal aesthetic studio for six years, earning NT$1 million. The woman, known as Ms. Pei, learned the craft from a compatriot after departing from her employer seven years ago. She performed unlicensed procedures such as double eyelid surgery, breast augmentation, and rhinoplasty. Ms. Pei imported unverified cosmetic injections from Vietnam and advertised her services on social media platforms, attracting Vietnamese and Indonesian customers seeking affordable beauty treatments. She was sentenced to one year and two months in prison by the Taichung District Court, but has the right to appeal the verdict.
    2023/12/20 19:27
  • AUO to close Singapore display production in December

    AU Optronics Corp. (AUO) plans to close its display production line in Singapore by the end of December, affecting around 500 employees. The company is moving its manufacturing equipment back to Taiwan and offering Taiwanese staff in Singapore the choice to relocate to Taiwan or transfer to Vietnam. AUO aims to expand its display module capacities in Vietnam. The company confirmed that its Singapore base will transform into a hub for providing smart solutions and will serve as its operations center in Southeast Asia. This move is in response to the growing preference for Organic Light Emitting Diode (OLED) technology in smartphones, tablets, and laptops, posing challenges to the Liquid Crystal Display (LCD) industry. Most of the equipment will be relocated to AUO’s Longtan plant, which is actively developing microLED displays in line with Apple’s strategy.
    2023/12/20 10:47
  • NVIDIA CEO eyes Vietnam for AI, digital talent cultivation

    NVIDIA CEO Jensen Huang announces collaboration with Vietnamese technological firms to support Vietnam in AI talent cultivation and digital infrastructure development. Huang expresses interest in establishing a base in Vietnam during a meeting with Prime Minister Pham Minh Chinh. NVIDIA has already invested around US$250 million in Vietnam and recognizes the country’s potential in the IT sector. Huang identifies Viettel Telecom, FPT Software, Vingroup, and VNG Corporation as specific partners for expanded cooperation.
    2023/12/12 17:51
  • Vietnam wins big as Chinese, US investment surges

    Chinese companies are increasingly establishing supply chains in Vietnam as U.S. companies like Apple move production there, according to Japanese media reports. Export restrictions on advanced semiconductors and semiconductor production equipment to China by the Biden Administration have led to difficulties for Chinese manufacturers, prompting a shift in investment towards alternative manufacturing bases like Vietnam. Approved foreign direct investment in Vietnam increased by 15% from January to November 2023, with Chinese investment, including from Hong Kong and Macao, doubling from the previous year. Chinese investment in Vietnam is even higher when routed through subsidiaries based in Singapore and Thailand. Notable investments include Shandong Haohua Tire Co. Ltd.’s US$500 million investment and Trina Solar Co., Ltd.’s US$420 million decision. BYD Company also announced an expansion investment of US$144 million, bringing its total investment in Vietnam to over US$400 million. Japanese experts believe that Chinese enterprises must engage in joint advancements in cutting-edge technology with local entities to be seen as partners by the Vietnamese.
    2023/12/12 16:02
  • Taiwan trusts eye bullish market outlook with zero-fee funds

    Investment trust companies in Taiwan, such as Jih Sun Investment Trust, Yuanta Investment Trust, Allianz Investment Trust, Taishin Investment Trust, First Investment Trust, and Cathay Investment Trust, are currently offering time-limited promotions that waive fund handling fees. These promotions, aimed at taking advantage of a bullish global financial market, include 0% transaction fees for regular savings plans and single payments. By focusing on Taiwan stock funds and funds invested in Vietnam, global industries, technology, and multi-asset classes, these companies are providing investors with opportunities to reduce investment costs. With an estimated profit of NT$3.4 trillion for Taiwan’s listed companies in 2024, a potential growth of 10% to 20% compared to 2023, and strong performance expected in the fourth quarter, the investment landscape in Taiwan looks promising.
    2023/12/12 11:48
  • Xi Jinping aims for deeper China-Vietnam link on state visit

    Chinese President Xi Jinping is set to visit Hanoi, Vietnam for the third time since assuming leadership positions in China. Ahead of his visit, Xi emphasized the importance of strategic communication, leveraging strengths, enhancing exchanges, and managing differences in an article he penned for Vietnam’s Nhân Dân newspaper. The two countries have a longstanding economic relationship, with China being Vietnam’s largest trading partner and Vietnam being China’s largest trading partner in ASEAN and the fourth largest globally. Xi also highlighted the potential for a strategic community of shared destiny between China and Vietnam, which could positively contribute to Asian development and global peace.
    2023/12/12 11:44
  • Taiwan plans to introduce 100,000 Indian workers by year-end

    Taiwan’s Minister of Health and Welfare expressed support for signing a memorandum of understanding with India by year-end, aiming to introduce around 100,000 Indian migrant workers to Taiwan. The agreement could involve employing these workers in manufacturing, construction, agriculture, institutional, and domestic care sectors. However, the contract signing might be delayed until December, and the employment of new migrant workers cannot begin immediately. Currently, Taiwan has approximately 748,000 foreign migrant workers, with Indonesians being the largest group at 267,000, primarily in caregiving. Vietnam follows with 260,000 workers, and the Philippines with 150,000, mainly in manufacturing. This collaboration could make India Taiwan’s fourth-largest source of migrant workers.
    2023/11/13 15:44
  • Taiwanese to benefit from Thailand’s new visa-free scheme

    The Thai government has launched a 30-day visa-free policy for Taiwanese tourists, aiming to increase the number of visitors by 20%. Around 600,000 Taiwanese tourists visited Thailand this year, and Thai officials hope to raise this number to at least 725,000 by the end of 2023. Since the announcement of the new policy, queries about Thailand on travel websites have increased by 30%. Travelers are also pleased with the elimination of visa costs, which can range from NT $1,200 to over $10,000. To further attract tourists, travel agencies and airlines are offering discounted round-trip tickets to Bangkok from Taipei, with prices as low as NT $5,000. Thailand is already among the top overseas travel destinations for Taiwanese, along with Japan, mainland China, South Korea, and Vietnam.
    2023/11/10 22:52
  • Taiwan’s real wages to rise by 2.5% in 2024: report

    Asian-Pacific workers, including those in Taiwan, are expected to experience the highest global growth in real wage increases in 2024, according to recent data. India leads the way with a projected rise of 5.1%, while Taiwan contributes with a 2.5% increase. The ECA International’s Salary Trends Report indicates that real wages for Asian-Pacific workers will increase by 2.2% in 2024, more than double the global average of 1%. Taiwan ranks sixth in the real salary forecast growth rate in the Asia-Pacific region, surpassing Macau, Malaysia, the Philippines, Cambodia, and South Korea. Vietnam and Thailand are expected to see real wage surges of 3.6% and 3.4% respectively, while Singapore is projected to have modest growth of 0.5%. The region’s advantage of lower inflation rates compared to the rest of the world contributes to these increases. Greater China locations, excluding Hong Kong, are expected to be among the top ten globally in terms of real wage increases in 2024.
    2023/11/09 15:09
  • Over 40% of Taiwan graduates willing to seek jobs abroad

    In 2023, Taiwan’s new graduates face low starting salaries, prompting many to consider overseas roles, especially in Southeast Asia. With Vietnam becoming a top choice, experts weigh in on the challenges and benefits of working abroad.
    2023/11/06 17:15
  • Askey accused of exploiting immigrant workers

    Askey Computer Corp., a subsidiary of ASUSTeK Computer Inc., is under fire for allegedly exploiting foreign immigrant workers and evading severance fees by relocating its Taoyuan factory to Vietnam. The joint union of Askey and ASUSTeK is demanding action as accusations mount against the computer companies.
    2023/09/21 21:24
  • 400+ affected by food poisoning at Vietnamese food stand

    Media reported a severe outbreak of food poisoning caused by consuming Vietnamese baguettes from "A-chen Banm Mi Vietnam" in Zhongli District, Taoyuan.
    2023/08/07 19:50
  • Expert dives deep into Vietnam’s education success

    According to the latest data from the World Bank, Vietnam’s education ranks among the best in the world.
    2023/07/24 16:16
  • BLACKPINK捲入南海爭議 主辦單位向越南致歉

    韓國女團BLACKPINK赴越南演出捲入南海九段線爭議,引發民眾抵制,官方更就此展開查證。負責活動規劃的IME Vietnam致歉,並說張貼九段線地圖的是IME亞洲聯合網站,而非IME越南網站。
    2023/07/07 15:49
  • Foxconn to invest US$250M in Vietnam beyond iPhone assembly

    Hon Hai Precision Industry Co., also known as Foxconn, announced plans on Tuesday (July 4) to invest approximately US$250 million in setting up two new component factories in northern Vietnam. One of the factories will specialize in producing components for electric vehicles (EVs), signaling Hon Hai’s continued diversification into the EV industry.
    2023/07/04 11:03
  • 今年前9月虧損133億 越航規劃重啟國際商務航班

    越南航空(Vietnam Airlines)今年前9個月虧損10.75兆越南盾(約新台幣133億元)。越南仍未恢復國際商務航班,但在獲得政府批准後,越航已規劃重啟國際商務航班。
    2020/10/15 10:45
  • 越航客機降落爆胎 機場關閉跑道11小時

    越南國家航空公司(Vietnam Airlines)一架客機昨天晚上暴雨中降落榮市機場(Vinh)時爆胎,導致跑道必須關閉11個小時,不少航班被取消或改降其他機場。
    2018/07/17 11:49
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