Vietnam faces huge trade deficit with Taiwan

The first seven months of 2009 saw a continued large trade deficit between Vietnam and Taiwan with total Vietnamese exports of US$481 million and $2.9 billion in imports.

According to the Vietnam Chamber of Commerce and Industry (VCCI), Vietnam imported about $8.3 billion in total value and exported over $1.4 billion to Taiwan last year.

The trade deficit gap between Vietnam and Taiwan should be reduced in the coming times, he said, adding that the island territory always tops the foreign direct investment (FDI) list in Vietnam at about 16 percent of the total.

Hoang The Hue, representative of the Chinese International Economic Cooperation Association said the Vietnamese investment environment has a lower risk level compared to the regional economies and FDI inflow into the country is still expected to increase in the next 10 years.

Tran Tam

thanhnien

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