President Ferdinand R. Marcos Jr. on Monday pitched the Philippines as a prime destination for investments and strategic partnerships as he encouraged Vietnamese businesses to expand their footprint in the country amid deepening economic ties between Manila and Hanoi.
Speaking at the Vietnam-Philippines Business Forum in Manila, Marcos said the Philippines is “open to partnerships, ready for investments, and eager to work” with Vietnamese businesses in creating new growth opportunities as both countries mark 50 years of diplomatic relations and elevate their ties to an Enhanced Strategic Partnership.
“Our message to the region is clear. The Philippines is positioning itself as a premier destination for smart, sustainable manufacturing and high-value services,” Marcos told around 600 business leaders and government representatives.
The President highlighted recent economic reforms aimed at attracting more foreign investments, including the CREATE MORE Act, amendments to the Foreign Investments Act, Retail Trade Liberalization Act and measures allowing longer and more stable land lease arrangements for foreign investors.
Marcos said the Philippines is pursuing investments in strategic sectors such as digital technology, green manufacturing, shipbuilding, critical minerals, electric vehicle supply chains, battery production and digital infrastructure.
He also underscored the importance of stronger Philippine-Vietnam cooperation as global supply chains continue to evolve amid rapid technological developments.
“Cooperation amongst like-minded partners has become increasingly essential. This is why our relationship with Vietnam continues to grow in importance,” he said.
Marcos noted that Vietnam was the Philippines’ 11th-largest trading partner in 2025, with bilateral trade reaching USD7.17 billion.
He said the Philippines exported more than USD424 million worth of digital monolithic integrated circuits and over USD200 million worth of electric motors to Vietnam last year, while Vietnam remained a key supplier of rice and electronic products to the Philippines.
As ASEAN chair this year, Marcos said the Philippines is also pushing for deeper regional connectivity and the implementation of the ASEAN Digital Economy Framework Agreement, which seeks to establish the world’s first region-wide, legally binding digital economy framework.
“The digital economy is the engine of our future growth. Vietnam’s collaboration is crucial,” he said.
The Vietnam-Philippines Business Forum was held on the sidelines of the state visit of Vietnamese President and Communist Party General Secretary Tô Lâm to Manila. (PNA)
