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Vietnam-Philippines business forum held in HCM City

access_time Jan 12,2017 chat_bubble_outline 100 views
Vietnam-Philippines business forum held in HCM City

Speaking at the event, Deputy Director of the Ministry of Industry and Trade (MoIT)’s Vietnam Trade Promotion Agency Bui Thi Thanh An said two-way trade between the two countries grew 11 percent on average from 2008-2016.


In November 2015, Vietnam and the Philippines established their strategic partnership, marking a step forward to promote bilateral trade and investment.


Do Quoc Hung, Deputy Director of the MoIT’s Asia-Pacific Market Department, said the event, held concurrently with a trade seminar, affords a good chance to introduce Vietnamese firms’ capacity for manufacturing and goods supply to Filipino partners, as well as to facilitate business networking.


Representative from the Ho Chi Minh City Investment and Trade Promotion Centre (ITPC) Nguyen Quoc Vinh said the city hopes for Filipino investment in building elevated roads, improving water quality and developing hi-tech agriculture, education and health care.


A lot of incentives are available for foreign investors to build Ho Chi Minh City into a modern economic and trade hub of the region, he said.


President of the Federation of Filipino-Chinese Chambers of Commerce and Industry, Inc., Angel Ngu hailed Vietnam as one of the most promising ASEAN markets of the Philippines, evidenced by the successful operation of Liwayway (Oishi) and Jollibee from the Philippines.


In the foreseeable future, the Philippines wants increasing trade in farm produce, construction materials, iron and steel, office equipment, consumer goods, leather and footwear, he said.


Two-way trade between Vietnam and the Philippines was estimated at US$3.23 billion last year, up 10.8 percent annually, two-thirds of which was Vietnam’s exports to the Philippines, mostly farm produce, construction materials and spare parts.


Vietnam is importing machinery, office equipment and chemicals from the Philippines.


The event was jointly hosted by the MoIT, ITPC and FFCCCII.

ASEAN bloc investments booming, VN among best destinations

Economic groups and corporations from ASEAN countries, including Vietnamese businesses, are pouring big money into neighboring countries.  The ASEAN Investment Report 2016 released recently showed that in 2015, the total investment capital in ASEAN countries reached $120 billion, of which investments from bloc countries accounted for 18.5 percent, which for the first time outstripped investments from EU, at 16.4 percent. According to Euromonitor, the ASEAN retail market is expected to expand… chat_bubble_outline Read More...

Draft order would halt refugee processing for Syrians

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Tiger says he's practicing well, back in December

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Brexit has officially been triggered. What comes next?

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The Latest: Trump says he wants to tweak NAFTA

WASHINGTON (AP) — The Latest on meetings between Canadian Prime Minister Justin Trudeau's and President Donald Trump (all times EST):3 p.m.President Donald Trump says there will be "tweaking" to the U.S. trade agreement with Canada.Speaking at a news conference with Canada Prime Minister Justin Trudeau, Trump suggested that he was content but had some unspecified objections to trade with Canada through the North American Free Trade Agreement. The president has targeted the two decade-old pact… chat_bubble_outline Read More...

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