The DFA director mentions better relations with Vietnam.

The Philippines and Vietnam are conscious of the role that economics will play in bringing about peace in the region, even while maritime security continues to be their top priority.

Enrique Manalo, the foreign secretary of the Philippines, and Bùi Thanh Son, the Vietnamese counterpart, discussed measures to strengthen bilateral ties during the 10th meeting of the Vietnam-Philippines Joint Commission on Bilateral Cooperation, which was held in Hanoi on August 1 and 2.

Prime Minister Pham Minh Chinh of Vietnam, who was also contacted by Manalo, restated his earlier vow to increase bilateral commerce from its present level of $7.8 billion to $10 billion. The objective has no defined timeline, but due to both nations' recent economic progress, it is more likely to be accomplished sooner rather than later.

Vietnam and the Philippines have just overtaken Indonesia as Southeast Asia's leading economies in terms of growth. Although global circumstances have lowered expectations, Vietnam has led the region in terms of gross domestic product growth over the past two years (6.5 percent to 6.8 percent). The Philippines' economy is expected to increase by 6.0 to 7.0 percent in 2023, with even more promising predictions for 2024.

In light of President Marcos' unexpected trip to Vietnam, the Philippines and Vietnam have decided to expand their interactions and communication. The visit demonstrates the strong ties that exist between the two nations in sectors including political, defense, security, economic, maritime, and sociocultural cooperation. The tour intends to investigate potential new areas of cooperation, like the digital economy, renewable energy, and food security.