By Joyce Ann L. Rocamora
MANILA – Vietnam President To Lam on Monday rallied the private sector to tap into the opportunities Vietnam and the Philippines have to offer as he conveyed Hanoi’s readiness to work and strengthen the two nations’ economic ties.
Speaking at the Vietnam-Philippines Business Forum in Manila, the visiting Vietnamese leader said it is high time that the Hanoi-Manila economic relations be “elevated to a greater height.”
For the past decade since the two states upgraded ties, Lam said the Vietnam-Philippine cooperation has witnessed growth across diverse fields, including security, trade and investment, and people-to-people, among others.
He said business communities and the government from both states must work hand-in-hand to focus and further improve trade and two-way investments, especially on agriculture, fisheries, consumer goods, digital economy, and logistics.
Hanoi, for its part, Lam said, would continue creating the “best possible condition” and business climate for investors eyeing opportunities in Vietnam.
Earlier, President Ferdinand R. Marcos Jr. and Lam agreed to find ways to surpass the two nations’ USD10 billion bilateral trade target and “attain a balanced trade relationship.”
The leaders encouraged the expansion of two-way trade opportunities, improved market access, reduced trade and investment barriers, and more high-level exchanges.
The two leaders also acknowledged the need to continue work on regional economic integration and cooperation under the framework of the Association of Southeast Asian Nations (ASEAN).
Lam conducted a state visit to the Philippines from May 31 to June 1 and witnessed the two states upgrade their ties to an Enhanced Strategic Partnership.
Also signed on the sidelines of his visit were 15 memoranda of understanding (MOU) between the following companies and organizations from both states:
The Philippines and Vietnam’s Chamber of Commerce and Industry (PCCI and VCCI);
PV Gas and Petreon Corporation;
Vietnam Airlines, Saigontourist, Department of Tourism, Trip.com, Philippine Airlines;
Vietnam National Chemical Group, Sun Prince TBA Group, Puregold Price Club, and Planters Products;
Viettel Cyber Security Company, Globla Sapphire Filipinas and Gocom Systems;
Vinpearl, Klook Travel Technology Philippines, and the Philippine Independent Travel Agencies Association;
Vietnam Association for Research and Application of Biochemical Technology, Unciano Medical Center and colleges, National University of Manila, and Centro Escolar University;
Hekate and Villgro Philippines;
Victoria Investment Group Joint Stock Company and Jet Construction and Development Group.
Philippine Chamber of Commerce and Industry President Ferdinand Ferrer said these deals signal that there is “confidence in the vast potential” of the Philippines and Vietnam’s trade and technology development, energy, green transition, tourism and aviation, health care and education, agriculture, telecommunication, transportation, electric vehicles, and artificial intelligence.
“The Philippines and Vietnam are more than just neighbors. We are like-minded economies—young, dynamic, and hungry for growth. Today, we move beyond goodwill into action,” he said.
In a separate interview, Ferrer said the PCCI is coordinating with the VCCI to organize and deploy at least three business missions following Lam’s high-level visit. (PNA)
