Business

Canadian enterprises interested in Vietnamese market

The Vietnam Trade Office in Canada has coordinated with agencies of the host country to hold a business dialogue in Toronto, drawing the attention of Canadian businesses that have invested in Vietnam and those planning to seek opportunities in this dynamic Asian market.

A delegation of the Canadian Embassy in Vietnam visits tea hills in Lai Chau province. (Photo: VNA)
A delegation of the Canadian Embassy in Vietnam visits tea hills in Lai Chau province. (Photo: VNA)

Ottawa (VNA) – The Vietnam Trade Office in Canada has coordinated with agencies of the host country to hold a business dialogue in Toronto, drawing the attention of Canadian businesses that have invested in Vietnam and those planning to seek opportunities in this dynamic Asian market.

Trade Counsellor at the Vietnamese Embassy in Canada Tran Thu Quynh noted that experts and speakers at the event highly valued trade and investment opportunities in Vietnam.

Those having operated or planning projects in Vietnam all consider it as a good market with a plenty of opportunities and a safe place to invest and do business in, said Quynh.

Experts in the field of supporting Canadian businesses to invest abroad and enterprises shared the view that the Vietnamese market has not only multiple opportunities, but also effective support from all-level administrations. The country also boasts political stability and fewer financial risks or market frauds compared to others.

Christine Nakamura, Vice-President of the Asia Pacific Foundation of Canada, stated that Vietnam, one of the fastest growing economies in the Association of Southeast Asian Nations (ASEAN), is paying attention to foreign investment attraction, so it is taking various measures to create more conditions for foreign companies and investors to pour capital into the country.

Many Canadians are also interested in the Vietnamese market, she said, adding that whether it is trade or investment, opportunities are truly open for both sides.

In addition to Vietnam's strong changes over the past years, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Indo-Pacific Strategy have helped draw more attention from Canadian investors to the Southeast Asian nation, she said.

Saina Fan, Ontario Regional Director at Export Development Canada (EDC), said Vietnam is one of the markets that EDC cannot miss. As a specialised export development agency, it has all necessary tools to assist Canadian firms to export to Vietnam, one of the important strategic markets and also the largest export market of EDC in ASEAN.

In the first five months of this year, Canada's exports to Vietnam increased by 27%. The North American country also had 10 new investment projects and 13 mergers in this market, with each project worth about 2 million USD, statistics showed./.

VNA
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