President Ferdinand Marcos Jr. on Monday made a strong pitch for more Vietnamese investments in the Philippines as Manila and Hanoi move to deepen economic ties and push bilateral trade beyond the $10-billion mark.
Speaking at the Vietnam-Philippines Business Forum at the Diamond Hotel in Manila, Marcos said the Philippines is ready to welcome more partnerships with Vietnamese businesses, particularly in high-value industries that could drive long-term growth.
“The Philippines is positioning itself as a premier destination for smart, sustainable manufacturing and high-value services. We are open to partnership, ready for investment, and eager to work with you in creating new opportunities for growth,” Marcos said.
The President said both countries have achieved significant gains in the past 50 years of diplomatic relations and 10 years of strategic partnership, but stressed that there is still room to expand cooperation, especially in trade and investment.
“As encouraging as these achievements are, they also point us towards the next stage of our partnership. While trade continues to reach new heights, we see even greater opportunities in investment,” he said.
Marcos said his administration has pursued reforms to make doing business in the Philippines easier while promoting industries that will shape the future economy.
He cited investment opportunities in electric vehicle production, battery manufacturing, digital infrastructure supply chains, shipbuilding, defense-related manufacturing, agriculture, fisheries, tourism, energy, digital transformation, creative industries, and the green economy.
The President said the Philippines also seeks to maximize its green metal resources, including its operating nickel mines, to support emerging industries.
“But progress ultimately depends on people who are willing to seize opportunities and transform these ideas into reality,” Marcos said.
“I hope that you will turn the conversations today into strategic plans, meaningful investments, and commercially significant agreements,” he added.
The business forum followed Marcos’ meeting with Vietnamese President Tô Lâm, where both leaders recognized the need to strengthen economic cooperation to build national resilience and shared prosperity.
In a joint statement, the two leaders said they want to surpass the US$10-billion bilateral trade target and achieve a more balanced trade relationship by expanding two-way trade, improving market access, and reducing trade and investment barriers.
They also agreed to pursue closer agricultural cooperation, particularly in rice, fisheries, sustainable agriculture, smart agriculture, disaster management, and climate change adaptation.
Both sides likewise committed to explore new areas of cooperation in science and technology, innovation, digital inclusion, e-governance, emerging technologies, energy, manufacturing, creative economy, and green economy initiatives.
Marcos and Lâm also underscored tourism’s role in economic growth and people-to-people ties, agreeing to promote sustainable and inclusive tourism and facilitate greater exchanges between the two countries.