Can Tho calls for investments, bilateral cooperation with Philippines

Vice Chairman of Can Tho People’s Committee Nguyen Thuc Hien (R) receives Philippine Ambassador to Vietnam Meynardo Los Banos Montealegre (Photo: VNA)

Can Tho (VNA) – The Mekong Delta city of Can Tho hopes to attract Philippine investments to agro-aquatic product processing, and organic and hi-tech agriculture, and its industrial parks, Vice Chairman of the municipal People’s Committee Nguyen Thuc Hien told Philippine Ambassador to Vietnam Meynardo Los Banos Montealegre on November 3.

Hien proposed the ambassador introduce the city’s potential and investment opportunities to associations and investors in the Philippines, and provide information about the Philippines’s market, advantages, trade barriers, investment orientations, trade customs, and culture so that Can Tho can have a foundation to intensify promotion activities.

Meynardo Los Banos Montealegre expressed his hope that this meeting is an opportunity to strengthen cooperation between the Philippines and Can Tho in the fields of economics and cultural exchange.

The Philippines will visit and explore collaboration opportunities with Can Tho. Therefore, it also hopes that Can Tho will seek bilateral cooperation opportunities in the coming time, he added.

To date, Can Tho has seen no foreign direct investment (FDI), official development assistance (ODA), and non-governmental organisation (NGO) projects from the Philippines. In the first nine months of this year, Can Tho’s exports to the Philippines reached 56.9 million USD.

The two sides are drafting a memorandum of understanding on bilateral cooperation./.

VNA