President Bongbong Marcos Begins Two-Day State Visit to Vietnam

HANOI – President Ferdinand “Bongbong” Marcos Jr. of the Philippines has arrived in Vietnam for a two-day state visit. This visit marks a significant step in strengthening bilateral relations and exploring new business opportunities between the two countries.

According to Philippines News Agency, a key agenda of the President’s visit includes a meeting with VinFast, a Vietnamese electric vehicle (EV) company with a valuation of USD 15 billion. VinFast is planning to enter the Philippine market by April 2024, aiming to launch and sell its EVs through a dealership business model. The company is also considering the possibility of manufacturing or assembling completely knocked down (CKD) EVs in the Philippines, contingent upon the results of market tests.

Additionally, the PCO mentioned that several private sector leaders from the Philippines will accompany President Marcos during his meeting with VinFast. This collaboration aims to explore partnership opportunities between the two nations in the burgeoning field of electric vehicles.

Following the business meeting, President Marcos and the Philippine delegation are scheduled to meet with the Filipino community in Vietnam. This encounter will provide an opportunity for the President to personally express his gratitude for their contributions, further strengthening the ties between the Philippines and Vietnam. Vietnam is currently home to 7,003 overseas Filipino workers (OFWs), who play a crucial role in maintaining the connection between the two countries.

The state visit is a strategic move by President Marcos to foster diplomatic and economic ties with Vietnam. The President and the Philippine delegation are expected to return home on January 31.