Manila: Officials of publicly-listed conglomerate Aboitiz Group have pledged to bolster Vietnam's economy through collaborative opportunities, highlighting the benefits of closer cooperation between the Philippines and Vietnam.

According to Philippines News Agency, Aboitiz Group announced that its officials met with Vietnamese President To Lam during the first day of his two-day official visit to the Philippines. The conglomerate, which operates in sectors such as energy, food security, and infrastructure, is actively involved in Vietnam, the fourth-largest economy within the 11-member Association of Southeast Asian Nations (ASEAN).

The statement from Aboitiz Group indicated that President To Lam also expressed his support for deeper engagement between Vietnamese and Philippine businesses, as both nations work towards shared development objectives. Tristan Aboitiz, president and CEO of Aboitiz Foods, emphasized the importance of the bilateral relationship, noting the significant untapped potential in agriculture, food security, and sustainable development.

Aboitiz's ventures in Vietnam include a USD45 million feed mill in Long An Province, capable of producing 300,000 metric tons of animal nutrition feed annually. Additionally, AboitizPower holds a 25 percent stake in Van Phong Power Co. Ltd., which operates a 1,320-megawatt high-efficiency, low-emission coal-fired power plant in Kh¡nh H²a Province. Sandro Aboitiz, AboitizPower's chief financial officer, highlighted plans to continue investing in Vietnam's power sector, including coal, gas, and renewable energy projects to meet the country's growing energy demands.

Furthermore, Aboitiz InfraCapital Cebu Airport Corp. is enhancing air connectivity with Vietnam through its operation of the Mactan-Cebu International Airport. Cosette Canilao, president and CEO of Aboitiz InfraCapital, expressed hopes to deepen partnerships with Vietnamese travel and tour enterprises, facilitating increased travel between Cebu, Bohol, Northern Mindanao, and Vietnam.