VN- Philippines Business Matching held

Viet Nam-Philippines Business Matching is organized on June 20 in Ho Chi Minh City - Photo: VGP/Le Anh

Viet Nam is one of the fastest growing markets in Southeast Asia, said Philippine  Undersecretary (Vice Minister) of the Industry Development and Trade Policy Group (IDTPG) Ceferino S. Rodolfo.

The Philippine enterprises operating in processing and automobile industries and retail sales are expecting to expand cooperation with Vietnamese partners, he added. 

Deputy Minister of Industry and Trade Tran Quoc Khanh highlighted the number of more than 100 Vietnamese businesses attending the event, which manifested their interests in exchanging and cooperating with Philippine partners.  

The Vietnamese Government is making efforts in synchronously and resolutely launching measures to improve the business environment and national competitiveness as well as facilitate foreign enterprises and investors to operate in Viet Nam, he affirmed.  

At the event, the two sides’ enterprises introduced their advantages and demands to promote investment and cooperation opportunities. 

The two-way trade value reached US$4 billion in 2017 and US$1.77 billion in the first five months of 2018, year-on-year increases of 22% and15.5%, respectively.  

The two nations are the fifth largest trade partner of each other within ASEAN. 

As of May 2018, the Philippines invested US$328 million in Viet Nam. 

By Thuy Dung