Post by : Shakul

Vietnam and the Philippines have pledged to deepen their economic partnership as leaders from both countries highlighted the need to elevate bilateral cooperation to a new level. The commitment was reaffirmed during the Vietnam-Philippines Business Forum held in Manila as part of General Secretary and President To Lam’s State visit to the Philippines.

The forum brought together government officials, business leaders, investors, and industry representatives from both nations. General Secretary and President To Lam joined Philippine President Ferdinand Romualdez Marcos Jr. in addressing the gathering, emphasizing the importance of stronger economic collaboration amid changing global economic conditions and evolving regional supply chains.

President Marcos Jr. described Vietnam as one of the Philippines’ most important partners in trade, investment, technology, and food security. He noted that both countries have built a strong relationship over the past five decades, supported by shared goals of economic growth, regional stability, and deeper integration within Southeast Asia. The year 2026 marks the 50th anniversary of diplomatic relations between the two nations, making the occasion especially significant.

In his remarks, President To Lam highlighted the steady growth of bilateral cooperation since the establishment of the Strategic Partnership in 2015. He noted that relations have expanded across numerous sectors, including trade, investment, agriculture, tourism, education, defense, and people-to-people exchanges. During the current visit, both countries agreed to upgrade their relationship to an Enhanced Strategic Partnership, opening a new chapter in bilateral cooperation.

The Vietnamese leader stressed that economic cooperation should move beyond expanding trade volumes and focus on improving quality, sustainability, and long-term value creation. He encouraged businesses from both countries to strengthen cooperation in agriculture, fisheries, food processing, logistics, consumer goods, digital commerce, innovation, and clean energy. He also called for greater collaboration in building resilient regional supply chains capable of adapting to global economic challenges.

President To Lam emphasized the importance of increasing two-way investment and promoting joint ventures that create shared benefits. He said Vietnam continues to improve its investment environment through transparent regulations, infrastructure development, logistics improvements, and workforce training. These efforts are designed to attract international investors and create favorable conditions for business expansion.

The forum also witnessed several concrete developments aimed at enhancing connectivity and economic exchanges. Vietjet announced a new direct flight route linking Ho Chi Minh City and Cebu, one of the Philippines’ leading economic and tourism centers. In addition, businesses from both countries exchanged cooperation agreements in sectors including energy, tourism, aviation, technology, digital transformation, innovation, and industrial development. These initiatives are expected to strengthen economic relations and support sustainable growth for both nations in the years ahead.

#Economy #Vietnam #Philippines #Business