Marcos reaffirms PH commitment for business opportunity exploration, exchange of technology, capacity-building collaborations with Viet Nam
President Ferdinand Marcos Jr. reaffirmed on Tuesday the Philippines’ commitment for the exploration of business opportunities, exchange of technology, enhancement of capacity and collaboration with Viet Nam on biomass and waste-to-energy, geothermal energy and offshore industry, among others.
In his speech during the meeting with Vietnamese Prime Minister Pham Minh Ching, President Marcos said the Philippines is committed to becoming a reliable partner of Viet Nam in digital transformation through the Philippine Science, Technology and Innovation-driven Industrial Strategy for 2022-2028.
Marcos added the E-Commerce Philippines 2022 Roadmap also aims to drive the Philippines’ Digital Economy to hit the gross merchandise value of more than $100 billion by 2023 as he highlighted the country’s support to micro, small and medium enterprises (MSMEs).
“We hope to work closely with Viet Nam in maximizing the use of technology and developing our countries’ infrastructure for digital transformation in order to take full advantage of its positive impact in our economies,” President Marcos told the Prime Minister.
“On trade and investments, I can see many, many opportunities for our two countries to explore. The Philippines is committed to enhancing and fortifying our economic, trade, and investment ties with Viet Nam. Our objective is to expand our bilateral trade which stands at just about $7-billion, today, to expand that to $10-billion by exploring untapped resources,” he added.
The chief executive also assured the Vietnamese government that the Philippines is keen on establishing a close partnership with them to streamline trade and investment procedures, reduce trade barriers, and cultivate a transparent and predictable environment that promotes fair competition and mutual growth and development.
Marcos also expressed his appreciation to Viet Nam’s preparedness to support the country’s rice requirements as he stressed the signed memorandum of understanding (MOU) on “Rice Trade Cooperation and Cooperation in Agriculture and Related Fields” and agreements between state-owned and private rice traders.
In terms of defense cooperation, Marcos said the Philippine government strongly advocates “for enhancing and conducting high-level exchange visits, information sharing, educational initiatives, and training exchanges between the Philippines and Vietnam’s armed forces, among others.”
He expressed optimism that the Philippines and Viet Nam will be able to finalize the negotiations for the proposed MOU on the Provision of Mutual Logistic Support and on mutually enhancing the country’s defense and security capabilities.
“On maritime cooperation, a very important subject for our--- both our maritime nations, I am pleased with the signing of the Philippines-Viet Nam Memorandum of Understanding on Maritime Cooperation. This Memorandum aims to establish a comprehensive partnership between our Coast Guards on capacity building, training, and personnel and ship exchanges to enhance interoperability operations between our two countries,” he said.
He also underscored the importance of the MOU on Incident Prevention and Management in the South China Sea signed between the Department of Foreign Affairs (DFA) and its Vietnamese counterpart, and assured the Philippines is willing to pursue a joint submission on the Extended Continental Shelf to the United Nations Commission on the Limits of the Continental Shelf (CLCS).
When it comes to climate change, Marcos said the Philippine government is eager to join with Vietnam on mitigating land-based and maritime pollution as he highlighted the country’s adoption by the COP28 of a Loss and Damage Fund.
Marcos said the country’s offer to host the Board of the Loss and Damage Fund is in line with Philippines’ commitment to preserving natural resources as he sought Vietnam’s support in the country’s bid to host the board of the fund. Presidential News Desk
