Vietnam assessing compensation for Taiwanese companies: official

05/24/2014 09:28 PM

Taipei, May 24 (CNA) The Vietnamese government is assessing the amount of losses suffered by Taiwan-invested companies in recent anti-China riots in the Southeast Asian country before coming up with a compensation figure for them, Deputy Economics Minister Shen Jong-chin said Saturday.

Shen, who led a delegation to Vietnam to examine the damage sustained by Taiwanese businesses earlier this week, said upon his return to Taiwan that he and Vietnamese Planning and Investment Minister Bui Quang Vinh have discussed issues related to compensation for affected Taiwanese firms.

Shen said he proposed setting up joint commissions with Vietnam to tackle the Taiwanese businesses' losses. The Vietnamese minister promised to report Taiwan's demands to Prime Minister Nguyen Tan Dungon Sunday.

After meeting with Taiwanese businesses in Vietnam, the delegation has also made a list of 13 demands for Vietnamese cooperation in dealing with the matter. After receiving the list, the Vietnamese government promised to direct relevant government agencies to take response measures, according to Shen.

The Vietnamese government also asked for Taiwan's understanding, adding that the assessment of losses sustained by Taiwanese companies is sensitive and still being carried out, Shen added.

James Yang, deputy director-general of the Department of Investment Services under the Ministry of Economic Affairs (MOEA), will lead a delegation composed of some 10 experts to visit damaged Taiwanese companies in Vietnam May 26-30 to gain a further understanding of losses they sustained and give suggestions on getting their operations back to normal, according to Shen.

The delegation will mainly provide assistance in property insurance claims, Shen said.

A total of 224 Taiwanese companies reported damage during the anti-China riots, with 18 factories set on fire, five of which were completely destroyed, according to statistics compiled by the MOEA .

Vietnamese protesters angry at China moving an oil rig to a part of the South China Sea claimed by both sides, mistakenly targetted Taiwanese businesses, thinking they were Chinese-owned.

(By Chiu Chun-chin, Huang Chiao-wen, Yang Su-min and Evelyn Kao)ENDITEM/J

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

Related stories:●May 24: Hanoi mulling single window for compensation for Taiwanese firms●May 21: Taiwan, Vietnam discussing losses incurred during rioting

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

    We value your privacy.
    Focus Taiwan (CNA) uses tracking technologies to provide better reading experiences, but it also respects readers' privacy. Click here to find out more about Focus Taiwan's privacy policy. When you close this window, it means you agree with this policy.