Business

Binh Dinh hopes for enhanced trade, investment ties with Canada

Canada was highlighted as a gateway for Vietnamese enterprises to access North American markets at a trade promotion conference held in the central province of Binh Dinh on March 28.
Binh Dinh hopes for enhanced trade, investment ties with Canada ảnh 1At the trade promotion conference in Binh Dinh (Photo: baodautu.vn)
Binh Dinh (VNA) – Canada washighlighted as a gateway for Vietnamese enterprises to access North Americanmarkets at a trade promotion conference held in the central province of BinhDinh on March 28.

Chairman of the provincial People’s CommitteePham Anh Tuan said Binh Dinh has proactively built and developed friendshipwith state agencies while boosting investment and trade partnerships withbusinesses of Canada.

Canadian firms have invested over 2.7million USD in two apparel projects in Binh Dinh, he noted, adding that theseprojects have initially proved effective and contributed to the province's socio-economic development.

The official admitted that Canadian investmentin the province remains modest and undiversified, he said, adding that Binh Dinh’s exports to Canada andmarket share in this market have yet to match with the potential, strengths,and expectations of both sides.

Binh Dinh hopes to welcome a new waveof investment with bigger projects from Canada, he remarked.

Tuansaid the province wishes to invite Canadian businesses to invest in five mainareas, namely industry, tourism, high-tech agriculture, port and logisticsservices, and urban economy connected with urbanisation.

He also highlighted priority for projects that apply modern and environmentally-friendly technologies, efficientlyuse resources, and manufacture competitive products.

With its sincerity and enthusiasm, theprovince pledges the best possible conditions for Canadian investors to carryout projects successfully and develop sustainably, the Chairman stressed.

Participants at the event, held incoordination with the Vietnamese Canadian Business Association (VCBA), discussed andproposed measures for attracting investors from and boosting trade with Canada.

Since the Comprehensive andProgressive Agreement for Trans-Pacific Partnership (CPTPP) came into force inVietnam on January 14, 2019, trade turnover between the two countries hasincreased sharply while export structures changed positively. Binh Dinh’sexports to Canada surged four-fold to more than 17.2 million USD in 2023 from4.1 million USD in 2018.

More than 40 businesses in theprovince are currently involved in trading activities with Canada and otherNorth American markets. Their exports include seafood, wood furniture, apparel,and plastic products, with seafood earning the highest revenue, nearly 5million USD last year, data showed./.
VNA
#Vietnamese enterprises #Vietnamplus #Vietnam News Agency #central province of Binh Dinh #Canadian investment #Vietnamese Canadian Business Association Binh Dinh Canada
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