"Have You Been Struck Yet?"
11:41 AM, Jul 21, 2008 • By JENNIFER CHOU
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It's not all gloom and doom, however. While investors in labor-intensive sectors such as clothing and footwear may be getting jittery about Vietnam, Taiwan's Formosa Plastics Group (FPG) recently poured a whopping $8 billion into the more upstream steel industry. Earlier this month, in the central Vietnamese province of Ha Tinh, prime minister Nguyen Tan Dung presided over the ground-breaking ceremony for an FPG iron and steel complex, the largest foreign investment project in Vietnam to date. FPG reportedly will also build an oil refinery and ethylene plant near the complex.
Despite these occasional positive developments, unless the underlying problems with Vietnam's economy are dealt with effectively, the future of Taiwan investment in Vietnam can be characterized as, at best, uncertain.
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