Ta Ya Unaffected by Vietnam Riot and Remains Optimistic towards Southeast Asian Markets

2014/05/23

       Ta Ya (Viet Nam) Electric Wire & Cable Joint Stock Company, a subsidiary of Ta Ya Electric Wire and Cable (1609), suffered no damage to production equipment or financial position during the recent anti-Chinese movement in Vietnam, thanks to the excellent coordination and response of its Taiwanese and Vietnamese staff. The factory has resumed its normal function and is operating at near full capacity to meet demands in Vietnam and ASEAN countries. Ta Ya (Vietnam) Chairman Shen Shang-Pang said that the group's support to its Vietnam business remains unchanged.

       Ta Ya set foot on the Vietnamese market in as early as 1995. Its local subsidiary, Ta Ya (Viet Nam), was listed for trading in February 2006, which made it the first 100% foreign-owned company to be listed in Vietnam's securities market. The subsidiary currently operates two factories; one in Hai Duong Province (Northern Vietnam) and one in Dong Nai Province (Southern Vietnam). Despite being close to Binh Duong Province, where the riot was most violent, the Dong Nai Site suffered no impact whatsoever.

       Ta Ya Group Chairman Shen Shang-Hung said: "Ta Ya's commitment to corporate social responsibilities is consistent in Taiwan and Vietnam. The group's "Human Rights Statement" ensures that every subsidiary is governed by appropriate measures that protect employees' rightful interests and dignity. With respect to manufacturing, the group has adopted lead-free production for PVC cables in both countries to ensure health of its employees and the environment."

       Ta Ya Dong Nai Site has won "Gold Quality Award" from Dong Nai Province Chamber of Technology for three times. Early this year (2014), it won Vietnam's National Quality Gold Award, making it the only cable manufacturer to receive such a prestigious honor and once again has proved itself to be a trusted company among the local industry and government authorities.

       ASEAN countries are becoming a new highlight to Taiwan's foreign trade, not only because of the immense population but also because of the progressive steps taken to eliminate customs duties and trade barriers. Ta Ya will continue using Vietnam as a gateway into the Southeast Asian market, seeking maximum benefits for investors, employees and the local community while fulfill its commitment to pristine homeland.