Agreement boosts PHL investments in Vietnam

Quoting a report by Ho Chi Minh City’s Investment and Trade Promotion Center (ITPC) vice director Nguyen Thanh Xuan, it is said the Philippines now ranks sixth among ASEAN countries in the number of investments in Vietnam with 59.
"There was a lively partnership between the Philippines and Vietnam’s business sector as manifested by the frequent exchange of top-level business delegations between the two countries," said PCCI president Miguel Varela in a statement.
At the seminar, Vietnamese officials cited investment opportunities in Vietnam, including projects in infrastructure (e.g. subway and monorail systems, roads and bridges, parking lots, and industrial parks), food processing, and electronics and IT.
The PCCI also organized a dialogue between Vietnam President Truong Tan Sang and Philippine businessmen during his visit here in October 2011.
In April this year, the PCCI and the ITPC organized a business meeting in Manila attended by 11 Vietnamese delegates from several industries including food, agriculture and plastics, at which the two countries were able to compare notes on their respective economic progress.
At the event, Vietnamese ambassador Vu Tu spoke of the corresponding increase in Vietnamese investments in the Philippines, particularly in food retail.
The two countries are also promoting student exchanges for Vietnamese students who want to hone their business English in the Philippines.