Taiwan Land Development Corp (TLDC, 台灣土地開發) has approved plans to set up a task force to scout investment opportunities in Vietnam to meet customer demand and support the government’s New Southbound Policy.
With a focus on the development of government-owned industrial parks, the Taipei-based company said it is seeking to replicate its successful experience in Taiwan in the Southeastern Asian nation.
“The task force is to act as a launch pad for the firm’s southward expansion,” TLDC chairman Chiu Fu-sheng (邱復生) said on Wednesday after the company’s board gave a unanimous support for the outreach plans.
The task force would allow TLDC to take advantage of Vietnam’s fast-growing economy, Chiu said.
Vietnam’s GDP expanded 7.46 percent year-on-year in the third quarter of the year, representing its strongest third-quarter growth since 2010, and higher than the previous quarter’s 6.28 percent growth, statistics released yesterday showed.
Australia and New Zealand Banking Group Ltd (ANZ) economists attributed the growth to strength in both exports and household spending, as well as contributions from the real-estate sector.
The TLDC board arrived at the decision after independent board director and former minister of the interior Lee Hong-yuan (李鴻源) gave a report of his recent trip to Vietnam, the company said, adding that Lee is to head the task force.
Chiu said some of the company’s clients, especially in the manufacturing industry, have asked for help sourcing plots in Vietnam to meet their capacity expansion needs, because the available land in Taiwan is too small and limiting.
TLDC is eyeing 500 hectare plots for potential industrial parks, Chiu said.
The company also plans to build commercial and residential complexes in Vietnam, he said.
Vietnam’s young population, with an average age of 27 on, is supportive of the southward expansion strategy, he added.
To many, Tatu City on the outskirts of Nairobi looks like a success. The first city entirely built by a private company to be operational in east Africa, with about 25,000 people living and working there, it accounts for about two-thirds of all foreign investment in Kenya. Its low-tax status has attracted more than 100 businesses including Heineken, coffee brand Dormans, and the biggest call-center and cold-chain transport firms in the region. However, to some local politicians, Tatu City has looked more like a target for extortion. A parade of governors have demanded land worth millions of dollars in exchange
An Indonesian animated movie is smashing regional box office records and could be set for wider success as it prepares to open beyond the Southeast Asian archipelago’s silver screens. Jumbo — a film based on the adventures of main character, Don, a large orphaned Indonesian boy facing bullying at school — last month became the highest-grossing Southeast Asian animated film, raking in more than US$8 million. Released at the end of March to coincide with the Eid holidays after the Islamic fasting month of Ramadan, the movie has hit 8 million ticket sales, the third-highest in Indonesian cinema history, Film
Taiwan Semiconductor Manufacturing Co’s (TSMC, 台積電) revenue jumped 48 percent last month, underscoring how electronics firms scrambled to acquire essential components before global tariffs took effect. The main chipmaker for Apple Inc and Nvidia Corp reported monthly sales of NT$349.6 billion (US$11.6 billion). That compares with the average analysts’ estimate for a 38 percent rise in second-quarter revenue. US President Donald Trump’s trade war is prompting economists to retool GDP forecasts worldwide, casting doubt over the outlook for everything from iPhone demand to computing and datacenter construction. However, TSMC — a barometer for global tech spending given its central role in the
Alchip Technologies Ltd (世芯), an application-specific integrated circuit (ASIC) designer specializing in server chips, expects revenue to decline this year due to sagging demand for 5-nanometer artificial intelligence (AI) chips from a North America-based major customer, a company executive said yesterday. That would be the first contraction in revenue for Alchip as it has been enjoying strong revenue growth over the past few years, benefiting from cloud-service providers’ moves to reduce dependence on Nvidia Corp’s expensive AI chips by building their own AI accelerator by outsourcing chip design. The 5-nanometer chip was supposed to be a new growth engine as the lifecycle
RSS