Filipino businesses to tour VN for investment chances

The trip, jointly organized by Việt Nam’s Department for Commercial Affairs in the Philippines, the Philippines’ Ministry of Trade and Industry and Hồ Chí Minh City’s Trade Promotion Office, is aimed at forging cooperation in trade and investment between the two countries.

During the Việt Nam tour, the Filipino delegation will meet with Vietnamese entrepreneurs on October 7. They also visit some export production establishments in Hồ Chí Minh City and the Hồ Chí Minh City Expo.

According to Việt Nam’s Department for Trade Promotion, the guests mainly operate in such areas as importing perfume inputs, cosmetics, garment and textile, packaging equipment, coffee, food, seafood, agricultural produce, pottery and ceramics, electrical appliances and labor export.

Earlier, on August 30, 60 leading Filipino companies worked with their Vietnamese counterparts in Hồ Chí Minh City at a trade promotion event, the Philippines-host biggest activity of its kind in Việt Nam.

Over the past years, the Việt Nam-Philippines trade turnover has made remarkable progress. In 2002, the two-way trade turnover stood at more than US $102 million. In 2006 it jumped to US $354 million. The Philippines’ import volume from Việt Nam is double that of Việt Nam, mainly including rice, manioc, motorbike spare parts and electronic microcircuit. It exports electrical wires for automobile manufacturing and hi-tech products to Việt Nam. 

By Ngọc Vân