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Taiwan Businesses in Vietnam resume work Friday
Taiwan News, Staff Writer
2014-05-16 05:31 PM
The spread of Vietnamese riots entered its fourth day on Friday and calmed down. Many Taiwanese companies have returned to work on Friday including Kenda (2106), China Steel (2002), Makalot (1477), Eclat (1476), Hakers (4432), Shinih (9944), Feng Tay (9910), and Kung Long (1537).

Department of Investment Services, MOEA Director-General Lien-Yu-ping indicated that a total of 2,287 Taiwanese businesses have investments in Vietnam. Over a hundred Taiwanese companies were affected by the current situation with approximately 1,100 plants forced to temporarily shut down. Regarding financial damage, the Ministry of Economic Affairs stated that this will only be known after actuarial assessments conducted by businesses and insurance companies but market estimates are over NT$10 billion.

According to MOEA statistics, currently there are 40,000 Taiwanese businessmen in Vietnam providing employment opportunities to 1.4 million locals. Taiwan and Vietnam have signed 40 cooperation agreements and Vietnam is the country with the most signed agreements with Taiwan. Taiwanese businesses were greatly affected by current anti-Chinese riots.

Textile and clothing company Makalot announced Friday that its subsidiary Triple Garment will resume normal operations Friday after a two day break. Shinih stated on the same day that it is currently unaffected by the anti-Chinese riots. Its Vietnamese subsidiary resumed work comprehensively Friday while the company continues to observe the situation closely moving forward.

Another OTC textile company Hakers announced that its subsidiary Hakers Vietnam resumed normal operations Friday. Currently there has been no damage to company personnel or the factory and no impact to company finances.

Shoe manufacturer Feng Tay shut down for two days on May 14 and 15 due to Vietnamese riots. Work resumed comprehensively May 16. Company finances and business have not been impacted greatly.

Lead-acid battery manufacturer, Kung Long announced Friday that riots have not impacted subsidiary company personnel, finances, or equipment. However, work was temporarily stopped for employee safety. Work resumed Friday. Currently all personnel posted in Vietnam are safe.

China Steel subsidiary CSVC resumed normal operations Friday. A work stoppage was announced Wednesday due to personnel and equipment safety concerns. Since the local situation is currently under control, work resumed Friday for a total of two days of work stoppage. Since CSVC only began operation on November 1, 2013, it is currently in a learning curve stage as such, a short work stoppage will not cause losses to the subsidiary.

After assessment by the Hon Hai Group (2317) and in consideration of employee safety, the company made an emergency announcement Friday afternoon of a three day work stoppage starting the 17th for its plants in Vietnam’s Bac Giang and Vinh Phuc provinces.

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