At the event that took place on June 1, General Secretary of the Communist Party of Vietnam Central Committee and State President To Lam urged the two sides to further promote two-way investment in highly complementary and long-term value-adding sectors, such as modern agriculture, food processing, clean energy, logistics, supporting industries, digital economy, and innovation.

The Vietnam-Philippines Business Forum was held on June 1 in
Manila as part of the  state visit to the
Philippines by General Secretary of the Communist Party of Vietnam (CPV)
Central Committee and State President To Lam.

General Secretary of the CPV Central Committee and State
President To Lam and Philippines President Ferdinand Romualdez Marcos Jr.
attended the event.

The Vietnamese top leader was quoted by the Vietnam News
Agency as speaking at the forum that the two countries have built a solid foundation
of political trust, complementary economies and dynamic business communities,
creating favorable conditions for stronger economic engagement.

He called  for fresh
breakthroughs to turn trade, investment and tourism into important drivers of
Vietnam-Philippines relations, stressing that economic cooperation between the
two countries should now be elevated to a new level.

He noted that as members of the Association of Southeast
Asian Nations (ASEAN), Vietnam and the Philippines have enjoyed a longstanding
friendship and cooperation. The bilateral ties have expanded significantly
since the establishment of their Strategic Partnership in 2015, covering
politics, defense, security, trade, investment, agriculture, tourism, education
and people-to-people exchanges.

During this visit, the two sides agreed to upgrade the
bilateral relations to an Enhanced Strategic Partnership, he stressed.

The Vietnamese leader showed his belief that the
Philippines, as ASEAN Chair in 2026, will help advance a united, resilient,
inclusive and highly connected ASEAN capable of adapting to regional and global
changes.

Highlighting the positive development of bilateral economic
relations, the General Secretary and President said the next step is to deepen
cooperation rather than merely expand its scale.

He called on businesses from both countries to strengthen
cooperation in trade and food security in a more stable, balanced and
sustainable manner, while making better use of the complementarities between
their economies.

Attention should be paid to expanding partnerships in the
fields of agriculture, fisheries, processed food, consumer goods, digital trade
and logistics, as well as jointly building resilient supply chains to better
withstand global uncertainties, he said.

The Vietnamese leader urged the two sides to further promote
two-way investment in highly complementary and long-term value-adding sectors,
such as modern agriculture, food processing, clean energy, logistics,
supporting industries, digital economy, and innovation. He stressed the need to
move from mere trade exchange to co-investment, co-production, and deeper
participation in regional value chains.

General Secretary and President Lam suggested the two nations
expand air connectivity, logistics networks, and tourism cooperation and
people-to-people exchanges, to shorten the geographical distance, reduce
cooperation costs and create new business opportunities.

He reaffirmed Vietnam’s commitment to creating the best
possible conditions and investment climate through transparent and predictable
policies, improved infrastructure, high-quality human resources and stronger
dialogue with businesses.

The leader stressed the importance for both sides to renew
economic cooperation mechanisms in a more flexible and practical manner, with
businesses placed at the centre, noting that such mechanisms should serve as
tools to open markets, remove bottlenecks, connect projects, and deliver
concrete outcomes.

He noted that while the two governments can pave the way, it
is the business communities that ultimately play a decisive role in turning
vision into reality.

General Secretary and President Lam expressed his hope that
Vietnamese and Philippine businesses will move beyond opportunity-seeking
toward stronger investment, technology sharing, market expansion, and deeper
participation in regional value chains.

Philippines President Ferdinand Romualdez Marcos Jr., for
his part, said the presence of the two countries’ top leaders reflected the
enduring strength of the bilateral ties and their shared determination to
expand cooperation across areas.

As the global economy is being reshaped by rapid
technological advances, evolving supply chains and emerging challenges, cooperation
has become increasingly important, he said, noting that Vietnam-Philippines
relations have continued to grow stronger.

He stressed that over many decades, the Vietnam –
Philippines relationship has grown steadily, and the two sides have built their
ties based on economic resilience, sustainable growth, and a shared commitment
to strong, independent, and integrated nations.

The Philippine President described Vietnam as an
indispensable partner in trade, investment and technology, as well as an important
contributor to food security and industrial supply chains. He expressed his
hope that discussions at the forum would be translated into concrete plans and
projects that bring greater prosperity and opportunities to the people of both
nations.

At the forum, which was hosted by the Ministry of Finance
and Embassy of Vietnam in the Philippines, the Philippine Department of Trade
and Industry, the Philippine Chamber of Commerce and Industry, and the Vietnam
Chamber of Commerce and Industry (VCCI), Vietjet Air of Vietnam announced a
direct air route connecting Ho Chi Minh City with Cebu, an important economic,
tourism, and aviation hub in the Philippines, helping facilitate travel and
strengthen ASEAN connectivity.

Several corporations and enterprises from both countries
also exchanged cooperation agreements in key areas, including energy, tourism,
aviation, chemicals, science and technology, innovation, digital
transformation, and other areas of mutual strength.

VNA-Van Nguyen