Vietnam unrest: Taiwan Textile Federation appeals for calm
19/05/2014
At the start of May, the Chinese located an oil rig in waters the Vietnamese see as their own, which sparked protests and violence, with Chinese-owned factories looted or torched. Some Taiwanese businesses, including textile and footwear factories, were mistaken for Chinese companies.
“Taiwanese investors, which have been a key part of Vietnam's economy, especially in the textile sector, have been investing in Vietnam since 1980,” said the TTF in a statement published on May 16. “Investments from Taiwan not only improve the employment opportunities of Vietnam, but also raise Vietnam's economic growth. In order to keep the economic relationship between Taiwan and Vietnam, a stable business climate is a must.
“TTF states that some of the Taiwan textile investors are thinking to end their expansion in Vietnam or to move their facility to other countries to avoid further losses, and it is believed that it would impact the economic growth of Vietnam.”
Reports from Vietnam suggest two people died and 140 had been injured by last Wednesday, but there have been no reports of violence over the weekend.
China has sent four ships to evacuate 3,000 Chinese workers from the Taiwan-owned Formosa Steel mill in Ha Tinh, where violence broke out on Wednesday and Thursday.
Vietnam is Taiwan's second-largest market for textiles, exporting $1.9 billion in 2013.
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