Vietnam’s prime minister charged that China “seriously threatened peace” by parking its oil rig in disputed waters as Hanoi tried to coax foreign businesses to stay in the country after anti-Chinese riots in several industrial areas.

Taiwan rejected a compensation plan sketched out by Vietnamese Prime Minister Nguyen Tan Dung for factories burned and looted in the unrest last week and one Taiwanese steel company threatened not to resume building what would be the largest steel mill in Southeast Asia, underscoring the challenge for Vietnam in restoring its allure as a manufacturing center.

“The Vietnamese government must give us a firm and clear assurance that our staff, including our contractors, and our assets will be fully protected in the future,” said Lin Hsin-I, president of the Formosa Ha Tinh Steel, whose site was one of the worst hit. “Otherwise we won’t continue to build the plant.”

Read more

Related Articles