PRESIDENT FERDINAND R. Marcos Jr. returned home Wednesday from his two-day state visit to Vietnam, bringing the good news that Vietnamese firms want to explore economic opportunities in the Philippines.
Marcos arrived at the Villamor Air Base in Pasay City at 3:30 a.m., Communications Secretary Cheloy Garafil said in a statement.
In his arrival statement, Marcos said his Vietnam trip laid the ground that would further strengthen the two countries’ strategic partnership.
“In my dialogue with Vietnamese business leaders they expressed interest in expanding their businesses in the Philippines, as well as exploring cooperation with our business sector in various traditional and non-traditional economic activities,” Marcos said in a video message after his state visit.
Marcos noted that among the Vietnamese companies that expressed intent to invest in the Philippines is the Vingroup Company which seeks collaboration in the fields of Artificial Intelligence, as well as medical courses and scholarships for Filipino students.
He added that the Vingroup is also eyeing active participation in the electric vehicle and battery supply chains.
Marcos said his meeting with Vietnamese President Vo Van Thoung also paved the way for the affirmation of commitment to enhance Manila and Hanoi’s relations and the signing of agreements for rice, agriculture, maritime, and cultural cooperation.
“We discussed areas of cooperation including defense, maritime, trade and investment, economics, education, tourism, and culture. We also witnessed the exchange of several agreements, including on rice, agriculture, culture, and maritime cooperation,” he said.
In his separate meetings with Vietnamese Prime Minister Pham Minh Chinh and National Assembly Chairman Vuong Dinh Hue, Marcos said he discussed with them the strengthening of bilateral relations to people-to-people exchanges, parliamentary cooperation, and other possible areas of collaboration.
Marcos said the Philippine government was also able to protect the interests and ensure the competitiveness of Filipino companies in Vietnam.
“We have successfully safeguarded the interest of Filipino businesses operating in Vietnam by providing them with the platform to voice their experiences, plans, and challenges at the very highest level,” he said.
“We want to assure them that the Philippine government stands ready to support in their endeavors in competing foreign markets,” Marcos added.
Marcos said he also met with the Filipino community to express his appreciation for their “continued good work in projecting a very positive image of the Philippines in Vietnam”.
“I gave them my assurances that my administration will continue to strive for the betterment of the Filipinos in the Philippines and abroad,” Marcos said.
Vietnam is home to an estimated 7,003 Filipinos whose remittances in 2022 amounted to USD 13,683,000.
The Philippines aims to expand bilateral trade with Vietnam to USD10 billion from the current USD7 billion by exploring untapped resources.
The Philippines and Vietnam have a total trade amounting to USD6.18 billion in 2022, with exports valued at USD1.72 billion and imports at USD4.46 billion. The USD2.74-billion trade balance is in favor of Vietnam.
The Philippines and Vietnam established their formal diplomatic ties on July 12, 1976, and elevated their relations to a Strategic Partnership in 2015. (Ruth Abbey Gita-Carlos)
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