This was confirmed by President of the Ho Chi Minh City Union of Friendship Organisations (HUFO), Le Hung Quoc, and Filipino honorary General Consul in HCM City, Gerry T. Paglinawan at a ceremony in the city on September 10 to mark the 110^th anniversary of the Philippines’ Independent Day and the 32^nd anniversary of the establishment of bilateral diplomatic ties.

Speaking on the occasion, Mr Quoc highlighted the two-way trade turnover, which reached nearly US$2 billion in 2007, saying that the Philippines is now Vietnam’s large rice importer. More and more Filipino businesses are seeking investment opportunities in Vietnam, he added.

General Consul Paglinawan described Vietnam as an attractive destination for Filipino investors, who are very interested in the Vietnamese market and affirmed that an association of Filipino businesses will be established in Vietnam in the near future.