NOVEMBERASIA BUSINESS OUTLOOK8NEWSROOMTAIWAN PLUS ONE STRATEGY PROMOTES SUPPLY CHAIN DIVERSIFICATIONDubai Chamber of Commerce (DCC) has introduced the creation of the Vietnamese Business Council to aid in increasing bilateral trade and investments. The announcement was issued during the Vietnam­UAE Business Forum held in Dubai, organized by the Ministry of Planning and Investment of Vietnam and the Embassy of Vietnam in the UAE in partnership with Dubai Chambers.More than 100 government and business leaders, including the Prime Minister of Vietnam and UAE Minister of State for Foreign Trade, attended the first event. Dubai Chambers' Chairman and President, along with officials, business figures, and investors from Vietnam and Dubai, were also present.The forum discussed methods to improve economic collaboration and boost mutual investments in key industries, particularly highlighting possibilities in the green economy, digital transformation, and innovation. An agreement was made between Vietnam Airlines, Etihad, and Emirates airlines to collaborate in the aviation industry; DP World and Vietnam Maritime Corporation agreed to improve Can Tho Port and inland waterways; VinGroup partnered with Benya Group, NDMC with Abu Dhabi Port to enhance data and logistics infrastructure; Vinfast and Emirates Driving Company agreed to work together on electric vehicle production; T&T Group and Golden Nile formed an agreement in finance, agriculture, and services. The Taiwan Plus One Strategy aims to reduce economic risks and supply chain problems by advising Taiwanese companies to incorporate an additional country, focusing on Southeast Asia, India, and other areas. The Philippines is seen as an attractive choice for investment hub because of the Taiwan Plus One Strategy and New Southbound Policy. "With our bigger landmass, natural and human resources, the Philippines is an ideal alternative site for Taiwanese companies which are into domestic and export manufacturing," PEZA Director General Tereso Panga said. "We can very well facilitate the investments, and support the growth of Taiwanese and other global investors, since the Philippines is regarded as one of the best performing economies in the region." According to the chief of the Philippine Economic Zone Authority (PEZA), the Philippines stands to benefit further from Taiwan's ongoing efforts to shift its manufacturing market away from China. Launched in 2016, the New Southbound Policy aims to position Taiwan as a key player in strengthening economic collaboration, trade, investments, and cultural interactions with Southeast Asia, Australia, and New Zealand. Taiwanese companies have been implementing these two business strategies.Citing a recent study, Panga said Asean is the fifth largest economy globally and has become a vital connector in the shifting trade dynamics between the United States and China. DCC LAUNCHES VIETNAMESE BUSINESS COUNCIL TO BOOST TRADE & INVESTMENT TIES
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