For many years, Taiwan is one of the largest economic partners of Vietnam in trade and investment. In 2021, it ranked 4th countries making investment with 2,845 projects with a total registered accumulative capital of over USD$35.3 billion; was the 5th largest trade partner of Vietnam¸ reached nearly USD$ 25.3billion two-way trades, including USD$20.7billion exporting to Vietnam and USD$4.5billion importing from Vietnam; was the largest importer of labor of Vietnam in 2021 with around 205,000 Vietnamese working in Taiwan; was the 4th largest market in terms of tourism, in 2019 with 926,744 Taiwanese visit Vietnam and 405,396 Vietnamese visitors to Taiwan, mutual visits reach to more than 130 million. Up to 2021 there was cumulative 111,374 Vietnamese married to Taiwan nationals. There are more than 17,000 Vietnamese students studying in Taiwan. The areas of cooperation such as Banking-finance (BIDV office established in Taipei in 2015), science and technology, health, education are also developed very well.
Taiwan’s new government has announced its New Southward policy for strengthening its trade and investment relations with ASEAN countries. Vietnam, with its implementing the economic liberalization policy trying to remove trade barriers through the free trade agreements (FTAs, TPP, RECP…), is potentially considered as a focal economic partner of Taiwan in its new policy
