Philippine investment encouraged in Vietnam

Vietnam will create all favourable conditions for foreign investors, including those from the Philippines, to do business in Vietnam, affirms State President Truong Tan Sang.
Addressing a joint business forum in Manila on October 27, President Sang said he hopes Philippine businesses will make a greater contribution to

He expressed his belief that the two countries’ businesses will seek cooperation in their potential areas to fully tap advantages and raise two-way trade value to $3 billion by 2016.

Philippine businesses showed their keen interest in investing in Vietnam and pledged to do long-term business in the country.

At the forum, three cooperative agreements were signed by Vietnamese and Philippine businesses in the presence of President Truong Tan Sang.

They included a memorandum of understanding on trade and investment promotion between the Vietnam Chamber of Commerce and Industry (VCCI) and the Philippine Chamber of Commerce and Industry (PCCI), a $23 million cooperative agreement on rice and cashew nut imports and exports between the Long An Food Processing Export Joint Stock Company and the Mayon Development Company and a $25 million cooperative agreement on a food and drinks franchise between Viet Thai International Joint Stock Company and IP Ventures Inc. – VOV

Tags: invest in Vietnam, Vietnam FDI, Vietnam FDI 2011, Vietnam investment

Posted by VBN on Oct 29 2011. Filed under Investment. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry