Taipei sends delegation to seek compensation from Vietnam

Taiwan's vice-minister of economic affairs, Shen Jong-chin, is leading a delegation to Vietnam today to help Taiwanese firms seek compensation from authorities there for damages incurred in deadly anti-China riots.

"The delegation is part of the government's efforts to show concern to our businessmen who suffered losses in last week's riots and to actively assist them in fighting for their rights and benefits according to their various needs," Vice-Premier Mao Chi-kuo said in Taipei yesterday.

Mao said the travelling party was composed of officials from relevant departments, including the economic, finance, foreign, labour, insurance and health ministries.

The delegation would assess losses, including those caused by suspension of operations, and help Taiwanese businesses seek compensation and restoration of operations from Vietnamese authorities, Mao said.

According to Taiwan's economic ministry, 224 Taiwanese factories suffered damage during the riots, with 18 set on fire and five burnt down.

The ministry has yet to calculate the exact amount of the losses, but Taiwan's Formosa Plastics Group has already reported US$3 million in property losses and a delay in the construction of a steel mill in Vietnam by one to two months due to the evacuation of 3,000 Chinese workers in the wake of the riots.

Taiwan is Vietnam's fourth biggest foreign investor, pumping US$27.3 billion of investment into 2,301 projects.