At the Meeting with Businesses event (Photo: VNA) Co-chairing the Meeting with Businesses withvisiting Philippine President Ferdinand Romualdez Marcos Jr., Chinh describedthe fruitful Vietnam – Philippines relations as an important foundation thatcreates motivation and confidence for enterprises from both sides to expandinvestment and business as well as promote trade and investment cooperation.
However, the bilateral economic, trade and investment ties have lagged behindthe two countries’ sound political relations, opportunities and potential, he pointed out, suggesting the two sides work together to renew the existingcooperation locomotives in the areas of investment, trade, and consumption whiledeveloping new cooperation ones across digital transformation, green transition, and climate change response, and boosting collaboration in the fields of one’sstrength and the other’s demand.
Recognising the complementary factors of the two economies, the PM highlighted that Vietnam and the Philippines should enhance competition toimprove the quality of products and services to meet the customers’requirements, and promote cooperation to leverage common strength.
PM Pham Minh Chinh speaks at the event. (Photo: VNA) As there are no roadblocks in the bilateralcooperation, PM Chinh asked both sides to organise more meetings and exchangeevents to push ahead the two economies’ connectivity, concretise high-levelagreements, and develop the Vietnam – Philippines Strategic Partnership into adeeper and more practical and effective fashion for prosperity in each nationand for peace, stability, cooperation and development in the region and theworld.
For his part, the Philippine President stressed that the Strategic Partnership should expand its reach toenterprises, especially those operating in the areas of innovation, towardssustainable development so as to bring practical benefits to the two countries,and for regional peace, stability, cooperation, and development.
He hailed Vietnam’s open policies and enthusiastic support for businesses, andexpressed his belief that Philippine companies will continue expandingcooperation and investment in Vietnam – a dynamic developing country, whileVietnamese firms should see Philippines a potential market for investment andbusiness collaboration.
The Philippine leader recommended both sides keep on developing cooperationacross traditional fields of economy and trade and other non-traditional ones such asmining, green technology, transport and technology.
Regarding Vietnam’s concern over the Philippines’ trade defence measures andtechnical barriers, he said the two countries should build a good businessenvironment and step up cooperation at governmental and business levels.
The event drew the attendance of many Vietnamese and Philippine enterprises whoare engaging in the fields of infrastructure development, trade, realty,automobile industry, aviation, IT, food, energy, education-training, amongothers.
They got updated with the socio-economic development in each nation andbusiness cooperation outcomes between the two countries over the past time, andshared new investment trends and orientations in the coming time.
Vietnamese firms want to cooperate with the Philippine peers in digitaltransformation, green transition, hi-tech industries, and food processing.Meanwhile, the Philippine side hopes to collaborate with Vietnam in electricautomobile production, infrastructure development, telecommunications, energy,food, pharmaceuticals, agriculture and retail sales./.
VNA
