Post by : Shakul
Vietnam and the Philippines have vowed to advance their economic collaboration as leaders from both nations stressed the importance of elevating bilateral ties. This pledge was reiterated at the Vietnam-Philippines Business Forum in Manila, coinciding with General Secretary and President To Lam's visit to the Philippines.
The event drew government officials, business leaders, and industry representatives from both countries. General Secretary and President To Lam, together with Philippine President Ferdinand Romualdez Marcos Jr., spoke at the forum, highlighting the necessity for enhanced economic cooperation in light of shifting global economic landscapes and regional supply chain dynamics.
President Marcos Jr. recognized Vietnam as a crucial partner for the Philippines in areas like trade, investment, technology, and food security. He emphasized the robust relationship cultivated over the past fifty years, reinforced by mutual goals of economic development, regional stability, and deeper Southeast Asian integration. Notably, 2026 will mark the 50th anniversary of diplomatic relations, adding significance to their discussions.
During his address, President To Lam referenced the consistent growth in bilateral ties since the Strategic Partnership was formed in 2015, with advancements spanning trade, investment, agriculture, tourism, and education. They agreed to elevate their relationship to an Enhanced Strategic Partnership, marking a pivotal moment in their cooperation.
The Vietnamese leader emphasized that economic partnerships should transcend mere trade volume increases, focusing instead on quality, sustainability, and long-term value creation. He encouraged enterprises from both countries to deepen collaborations in critical sectors such as agriculture, fisheries, food processing, logistics, consumer goods, digital commerce, innovation, and clean energy, asserting the need for robust regional supply chains to navigate global economic challenges.
President To Lam also highlighted the significance of bolstering mutual investment and promoting collaborative ventures that yield shared advantages. He affirmed Vietnam's continuous efforts to enhance its investment climate through clear regulations, infrastructure development, logistics enhancement, and workforce training to attract global investors.
The forum also resulted in several concrete actions aimed at boosting economic connectivity. Vietjet announced a new direct route from Ho Chi Minh City to Cebu, one of the Philippines' key economic and tourism hubs. Furthermore, businesses from both nations signed cooperation agreements across diverse sectors such as energy, tourism, aviation, technology, and innovation, aimed at strengthening their economic ties and encouraging sustainable growth in the future.
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