Vietnam-Philippines relations have seen remarkable developments in many areas in recent years.
On Nov. 17, 2015, Vietnam and the Philippines elevated their bilateral relations to a strategic partnership. This has since paved the way for stronger cooperation in political affairs, which have also been consolidated through the regular exchange of delegations and visits between both governments, ministries, provinces, and institutions as well as people-to-people contacts.
This year marks the 45th anniversary of the establishment of diplomatic relations between the two countries.
The economic cooperation between the two countries has also enjoyed positive developments through the yearly increase of bilateral trade. From just $541 million in 2000, trade rose to $5.32 billion in 2020.
In the first five months of 2021, despite the COVID-19 pandemic, trade continued to rise, reaching $1.69 billion. Vietnam and the Philippines are currently each other ’s fifth-largest trading partners within ASEAN.
It is an increasingly encouraging sign to see more and more Filipino enterprises investing in Vietnam. As of the end of May 2021, Filipino companies were investing a total of $328 million in Vietnam, ranking 27th out of 126 nations and territories investing in Vietnam.
Vietnamese investors are also looking forward to exploring potential opportunities in the Philippines. The Vietnam-Philippines Joint Trade Committee (JTC) is currently the main mechanism for boosting bilateral economic cooperation.
This story is from the September 02, 2021 edition of The Philippine Star.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the September 02, 2021 edition of The Philippine Star.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
THE POWER OF ENSEMBLE ACTING
\"ESPANTAHO\" (SCARECROW) is a tale of family and forgiveness, told in the drama-horror genre. For the audiences, it could also be a tale of great ensemble acting. You know the kind that complements the genre because the portrayal keeps one on the edge of one's seat.
Tyang Amy, Tita Winnie talk about challenges of hosting a public service show
One of the challenges of hosting a public service show is dealing with the feeling of empathy toward your listeners as they share their heart-wrenching stories, according to radio hosts Tyang Amy Perez and Tita Winnie Cordero.
MMFF explains Eugene Domingo's inclusion in viral tribute video
Organizers of the 50th Metro Manila Film Festival (MMFF) have addressed questions over the inclusion of veteran actress-comedienne Eugene Domingo in a tribute video aired during its awards night or Gabi ng Parangal.
49TH CONSULAR BALL HIGHLIGHTS THE POWER OF COLLABORATION
For almost half a century, the Consular Corps of the Philippines celebrates an annual ball that brings together members of the diplomatic community, government officials, business leaders and prominent figures, fostering friendship and cooperation among consuls, strengthening the connection between the diplomatic community and the Filipinos.
ALYSSA VALDEZ READY TO REINVENT HERSELF BEYOND THE COURT
Alyssa Valdez has finally returned to the volleyball court scene after suffering from a right knee injury.
This Top Moroccan Beauty Brand Is Clean, Ethical and Affordable
Moroccan skin, body and hair care have long been touted for their beauty benefits, so Mehdi Moussaoui, a French-Moroccan expat who's the top hairstylist at La Provence salon in Central Square BGC, wanted to bring a Moroccan beauty brand here that Filipinos would love.
DRESSING UP FOR JOY IN 2025
Fashion's mood for the new year is one of optimism and a celebration of individuality and self-expression.
PCC, ACPC Form TWG For Financing To Carabao Enterprises
Two agencies attached to the Department of Agriculture formed a technical working group (TWG) to oversee the creation of a financing program that would support carabao and carabao-based enterprises (CBEs) nationwide.
BSP extends deadline on consumer redress standards
The Bangko Sentral ng Pilipinas (BSP) has extended the transitory period for compliance with Circular 1195, which outlines the consumer redress mechanism standards for account-to-account electronic fund transfers (EFTs).
MRT-7 Gears Up for Engineering Check
Metro Rail Transit Line 7 (MRT-7) has undergone so many changes from its original design that the government is hiring an engineering consultant to look at all of them.
