October 20, 2012
Filipino businessmen were encouraged to dig deep and explore the burgeoning opportunities of investment in Viet Nam at a conference in HCM City on Tuesday. The trade and investment conference with the theme ‘Viet Nam – Investment destination’, was attended by a number of foreign investors with an eye to promote cooperation with Viet Nam. Addressing the event, which was organised by the HCM City chapter of the Philippines Business Group Viet Nam, the Vice Chairman of HCM City People’s Committee Le Manh Ha said trade and investment between Viet Nam and the Philippines a2ds developed significantly in various fields.
He said he hoped the conference would help Vietnamese and Filipino businesses instigate joint projects and sign contracts with new partners.
Municipal authorities had been committed to creating the best possible conditions for Filipino businesses to prosper and would support them in their trade and investment activities, added Ha.
According to its Ambassador Jerril Santos, the Philippines is the 27th biggest overseas investor in Viet Nam, with investments totalling almost US$300 million. In HCM City alone, there are currently 26 projects operated by Filipino businesses with a total capital of $46 million.
“Although two-way trade has risen significantly, there is still room for further cooperation. The Philippines also encourages Vietnamese businesses to take part in the country’s investment and agricultural sectors,” he said.
During the conference, representatives from various sectors in Viet Nam and the Philippines gave presentations on the investment environments in their countries.
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