PHL, Vietnam sign 15 trade, investment deals

PHILIPPINE and Vietnamese businesses signed 15 memoranda of understanding (MoUs)  designed to boost trade and investment ties, an industry chamber said.

“The signing of 15 MoUs is a testimony of both our country’s confidence in the vast business potential in trade and technology development, energy — especially renewable, tourism, aviation, agriculture, telecom, transportation and AI,” PCCI President Ferdinand A. Ferrer said during the Vietnam-Philippines Business Forum on Monday.

The PCCI and the Vietnam Chamber of Commerce and Industry signed an MoU to help expand trade and investment relations between the two countries.

It also noted that three MoUs were signed by the Department of Tourism, Philippine Airlines, and Trip.com with Vietnam Airlines and Saigontourist.

Another three MoUs were signed by Sun Prince TBA Group, Puregold Price Club and Planters Products with Vietnam National Chemical Group.

Two MoUs were  signed by Viettel Cyber Security Co. and partners Globla Sapphire Filipinas and Gocom Systems; and by Vinpearl and Klook Travel Technology Philippines and the Philippine Independent Travel Agencies Association.

MoUs were also signed by Petron Corp. and PetroVietnam Gas Joint Stock Corp.; Villgro Philippines and Hekate; and by Victoria Investment Group Joint Stock Co. and Jet Construction and Development Group.

The Vietnam Association for Research and Application of Biomedical Technology also signed an MoU with Unciano Medical Center and Colleges, National University of Manila, and Centro Escolar University.

Vietnam is the Philippines’ 11^th largest trading partner.

The two countries are looking to exceed a $10-billion trade target following a meeting between President Ferdinand R. Marcos, Jr. and visiting Vietnamese President To Lam in Malacañang on  Monday. — Beatriz Marie D. Cruz