Pushing promotion between Vietnam – Philippines

Sea-foods proceeding in Vung Ang Industrial Park (Source: Vietnam news agency)
On 18/08 Philippines business delegation including 15 businesses operating in foods, packaging, franchising, participated in the meeting with Vietnam business.
Giving information on Philippines business activities in Vietnam, Mrs Nguyen Thi Huyen Ngoc, representatives of Southern Investment Promotion Center – Foreign Investment Bureau, Ministry of Planning and Investment emphasized that FDI from Philippines was mainly on Proceeding and Manufacturing Industry, accounting for 71%, then Agri-Fore-Sea Industry, occupying 25% and Whole-selling/ Retailing Industries with over 2%.

According to Southern Promotion Center, Philippines, in the first 6 months of 2015, is having 74 investment projects spreading more than 16 provinces in Vietnam with total capital of $US 303 millions : Southern region accounts 10 provinces out of 16 provinces Philippines businesses invested, occupying more than 50% total investment of Philippines in Vietnam. It shows that Philippines businesses are focusing on Southern Provinces : HCMC, Binh Duong Province, Dong Nai Province….

There are more than 5000 Philippines businesses in HCMC. Therefore, bilateral cooperation promotes not only economic growth, but also cultural and tourism exchanges. In addition, trading programs will give investors good chance to have overall Vietnam economic information, also great opportunities for investors to directly exchange information about business activities. 

The friendships collaborative relations between Vietnam and Philippines is positively more and more developed, especially in economy, trade, investment. In particular the two-ways trading turnover within 2014 between Vietnam and the Philippines almost reached $US 3billion in which the export turnover from Vietnam to the Philippines is $US 2.3 billion and the import turnover from the Philippine to Vietnam is more than $US 675 millions.   

The Vietnam’s core products exporting to the Philippines include : agricutural, seafoods, foods, metals, components,... in which rice takes the lead in export turnover occuping 26,2%, an increase of 169% in price and 167% in volume compared to 2013.
20th August, 2015