Taiwan hopes for better compensation terms from Vietnam

05/23/2014 08:07 PM

Taipei, May 23 (CNA) Terms offered by the Vietnamese government to compensate Taiwanese companies affected by last week's anti-Chinese riots have fallen below expectations, Taiwan's deputy economics minister said Friday.

Deputy Minister Duh Tyzz-jiun said that the government in Taiwan will make strong demands for "substantial" compensation after the violent protests left 224 Taiwan-invested companies damaged.

Vietnam's Prime Minister Nguyen Tan Dung has promised to take measures to compensate the affected companies, including directing insurance companies to compensate the losses, extending the maximum period for filing and paying taxes to two years, granting duty-free status to imported goods and value-added tax reductions or exemptions on raw materials, streamlining visa application procedures for foreign workers and work permits for foreign managers, and offering unemployment benefits for workers unable to get their salaries during the rioting.

Duh told reporters that he was happy to see Vietnam willing to face the problems, but he said the terms failed to meet Taiwanese companies' demands for substantial compensation. He explained that the businesses hope for tax deductions and exemptions for personal and corporate incomes.

They also want a regular system for central and local governments to work together on claims for damages, he said.

The deputy minister also suggested that Vietnam's national social security fund could come up with standards for affected workers to claim unemployment compensation.

Of the Taiwanese companies mistaken for Chinese firms during the rioting, 18 factories were set on fire, five of which were completely destroyed, according to data compiled by Taiwan's Ministry of Economic Affairs.

A delegation led by Vice Economics Minister Shen Jong-chin was scheduled to meet with high-ranking Vietnamese officials from Vietnam's central government and locally based Taiwanese businesspeople later Friday. Shen and other officials visited the provincial governments of Dong Nai and Binh Duong, where the riots were centered, after arriving in the country earier this week.

(By Milly Lin and Evelyn Kao)


Video report:Vietnam-based Taiwanese people recount "terror"

Related stories:●May 22: Economics minister praises Vietnam for helping Taiwan companies●May 21: Taiwan, Vietnam discussing losses incurred during rioting

(Click here for developments related to the anti-China protest-turned-riot in Vietnam.)

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