UMVA has learned that Philippine and Vietnamese businesses have inked 15 memoranda of understanding to ignite a surge in trade and investment between the two nations.
At the Vietnam-Philippines Business Forum, the signing ceremony unfolded like a grand market exchange, with leaders declaring the deal a testament to the boundless business potential spanning technology, renewable energy, tourism, aviation, agriculture, telecom, transportation, and artificial intelligence.
The Philippine Chamber of Commerce and Industry and the Vietnam Chamber of Commerce and Industry set the tone by formalizing a pact to deepen commercial ties and open new channels for investment.
Three additional agreements emerged from the Department of Tourism, Philippine Airlines, and Trip.com, partnering with Vietnam Airlines and Saigontourist to weave a tighter tourism network across borders.
Meanwhile, Sun Prince TBA Group, Puregold Price Club, and Planters Products joined forces with Vietnam National Chemical Group, signaling a strategic alliance in the food and chemical sectors.
Cybersecurity and travel tech also received a boost: Viettel Cyber Security Co. teamed up with Global Sapphire Filipinas and Gocom Systems, while Vinpearl and Klook Travel Technology Philippines partnered with the Philippine Independent Travel Agencies Association.
Energy and construction sectors shone bright as Petron Corp. partnered with PetroVietnam Gas Joint Stock Corp., and Victoria Investment Group Joint Stock Co. aligned with Jet Construction and Development Group.
Health and research sectors were not left behind, with the Vietnam Association for Research and Application of Biomedical Technology signing an agreement with Unciano Medical Center, National University of Manila, and Centro Escolar University.
These 15 agreements signal a bold leap toward a $10‑billion trade target, a milestone that follows a high‑level meeting between Philippine President Ferdinand R. Marcos, Jr. and Vietnamese President To Lam.
With Vietnam ranking as the Philippines’ eleventh largest trading partner, the new MoUs promise to elevate bilateral commerce to unprecedented heights, unlocking fresh opportunities for businesses on both sides of the sea.
