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Taiwan to seek compensation for businessmen stationed in Vietnam

  • 14 May, 2014
  • Editor

The economics ministry says it will seek compensation for Taiwanese businessmen stationed in Vietnam based on an investment protection agreement the two sides signed in 1993.

An economics ministry official said on Wednesday that more than 100 Taiwanese factories were damaged in anti-China protests in southern Vietnam, and ten of them were set on fire.

According to the agreement, the official said, a preferential treatment should be given to the other side to ensure its investment in the case of rioting or natural disasters.

Taiwanese businesses have invested in more than 2,300 projects in Vietnam with a total investment value of US$27.3 billion. Taiwan is Vietnam’s fourth largest investor, after Japan, South Korea and Singapore.

Given that the Vietnamese people have trouble differentiating Taiwanese from Chinese, the government said Taiwanese businesses suffered the most during the protests. 

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