He made the statement when receiving newly appointed Timor Leste Ambassador to Vietnam Pascoela Barreto dos Santos in Hanoi on February 20.
He said he expects the country to speed up the groundwork for its free trade agreement with Vietnam to soon come into effect.
Phuc also welcomed the ambassador to begin her duties in Vietnam, saying he believes she would contribute to boosting all-round bilateral cooperation, which currently falls short of potential.
For her part, the Timor Leste diplomat stressed the traditional relations between her country and Vietnam, as well as her good impression about a friendly and peaceful Vietnam.
She hailed Vietnamese investments in Timor Leste, particularly those made by the military-run telecommunication group Viettel.
She said she expects the Vietnamese Government will create more favourable conditions for businesses to invest in Timor Leste, especially in training and information technology.
She pledged to spare no effort to enhance bilateral ties.