Haiphong City, 2 March 2004 – Foreign Affairs  Secretary Delia Domingo Albert today stressed the
 importance of economic diplomacy as a tool, not only  in advancing the long-term interests of the country,
 but also in contributing to a stronger partnership  between the government and the private sector.

 The Secretary, who is currently in Vietnam for an  official visit, made this remark during her meeting
 with the Filipino community in Haiphong City following  her visit to the San Miguel Yamamura Haiphong Glass
 Company, Ltd (SMYHG). The Secretary was given a  briefing and a tour of the plant’s state of the art
 facilities by the company’s General Director and  Assistant General Director, who are both Filipino
 executives from the San Miguel Corporation.

 “In pursuing our development goals and objectives, we  should also enter into joint ventures with other
 countries as we continue to seek and open markets for  Philippine products,” the Secretary said.

 She added that Vietnam has become a good example where  the Philippines, through the initiative of both the
 government and the private sector, has been able to  develop economic relationships with the host country
 and make its presence felt and appreciated in the  local economy.

 “The Philippines has made significant investments in  Vietnam, where it has gained a foothold in the local
 beer market, as well as in the glass manufacturing  industry,” the Secretary said.

 SMYHG is a joint venture company between San Miguel  Yamamura Glass (Vietnam) Ltd. and Haiphong Glass Co.  of Vietnam. The company teams up with three glass  manufacturing companies from the Asia-Pacific region –  San Miguel Corporation, Nihon Yamamura Glass Co. Ltd.  and Haiphong Glass Co.
 
 San Miguel Corporation, the Philippines’ largest  beverage, food and packaging conglomerate, is in
 charge of the company’s general management. Nihon  Yamamura Glass, Japan’s leading glass manufacturer,
 supplies the joint venture’s core technology on glass  manufacturing. Haiphong Glass of Vietnam provides the
 knowledge and familiarity with the domestic market.

 The company started operations in 1996, with all of  its engineers and technicians having received hands-on
 training on packaging, quality and productivity and  machine maintenance in the Philippines. The company’s
 glass plant has the capacity to produce an average of  100 million bottles every year. The business remains
 competitive amid the current situation of over  capacity in the domestic industry.

 “This joint venture by three major glass manufacturing  companies in the Asia-Pacific region has underscored
 the potential for cooperation by our respective  countries. Among the goals of the ASEAN is to  successfully integrate the newer members of the  organization – the CLMV countries -- by assisting them  in their effort to catch up with their fellow member  states. I am glad that the Philippines, through its  various investments and other commercial activities in  Vietnam, is contributing significantly to this  effort,” the Secretary said. END.