Top Philippine CEOs to Scout Vietnam HCM City

A delegation of 50 top Philippine business executives will pay a four-day visit to Ho Chi Minh City later this weekend to seek trade and investment opportunities, foreign media said.

 

The group, to be headed by Trade and Industry Undersecretary Thomas Aquino, will include businesspeople from agribusiness and aquaculture, mining, energy, real estate and construction, light manufacturing, food manufacturing, banking, and insurance.

 

During the stay, the mission will meet the municipal officials to study trade and investment procedures and regulations.

 

The guests are also scheduled to work with their local partners to discuss potential cooperation.

 

During the visit to Philippines early this month, Vietnamese Prime Minister Nguyen Tan Dung and Filipino President Gloria Macapagal Arroyo agreed to boost economic, trade, investment, security and defense ties in the coming time.

 

The two leaders hoped to increase the two-way trade turnover to US$2 billion this year from around US$1.2 billion last year. Rice has been the key item of Vietnam to export to the Philippine in many past years. Vietnam mainly imports fertilizer, equipment and machinery, liquidized gas, petroleum products, medicine, and construction materials. (Manila Standard Today)