HCM City wants to boost stronger bilateral trade with Canada
Chairman of the Ho Chi Minh City People’s Committee Phan Van Mai suggested the city and Canada strive for bilateral trade of over 1 billion USD while receiving Canadian Minister of Export Promotion, International Trade and Economic Development Mary Ng on March 28.
From right: Chairman of the Ho Chi Minh City People’s Committee Phan Van Mai (3rd), Canadian Minister of Export Promotion, International Trade and Economic Development Mary Ng (4th), and other delegates at the reception in HCM City on March 28. (Photo: VNA)The two sides boast potential for multi-faceted cooperation, the official explained, expressing his hope for Canadian investment of more than 500 million USD in the southern largest economic hub in the time ahead.
Mai viewed Mary Ng’s visit as an opportunity for the two sides to enhance cooperation in various fields, especially trade and investment.
Mentioning the Comprehensive Trans-Pacific Partnership Agreement (CPTPP), to which both Vietnam and Canada are signatories, he said since it was put in place, trade and investment ties between Canada and Vietnam, and HCM City in particular, have been growing, yet they have failed to match their potential and demand.
Therefore, HCM City encourages businesses of the two countries to exchange cooperation opportunities and open offices in a bid to double and even triple the two-way trade revenue.
Briefing his guest on HCM City’s advantages, Mai stressed that apart from trade, it expects to receive Canada’s cooperation and investment in education and high-quality personnel training to serve its international integration.
The official also suggested the two sides enhance the exchange of experience and technologies to spur sustainable development.
For her part, Mary Ng said the visiting Canadian trade mission comprises more than 100 enterprises operating in different spheres, from agriculture to processing, space science, green growth, and climate change response, demonstrating their interest in investment in Vietnam.
Canada considers Vietnam an important partner and market in its Indo-Pacific strategy, she said, adding that many Canadian businesses have invested in electricity and energy, and opened their representative offices in HCM City.
Canada also wants to learn about Vietnamese firms that are seeking business opportunities in the North American country, she said.
The minister affirmed that Canada will work to connect Canadian investment funds, organisations, schools and research institutes, and HCM City in the realm of human resources development, and the country stands ready to share its experience with the city in green transition./.
You should also see
Dien Bien: Tua Chua's tourism potential needs to be further promoted
Tua Chua highland district in the northwestern mountainous province of Dien Bien boasts a lot of potential and advantages for the development of top-tier tourism.
See more
Business
Long An, Japan's Okayama city explore cooperation opportunities
Leaders of Vietnam’s southern Long An province and Japan’s Okayama city engaged in a dialogue on April 26 to discuss cooperation between the two localities.
Business
Investor confidence gains traction on improved business climate
Better investment climate, with simplified administrative producers and special incentives, has helped improve investor confidence, thus catalysing investments from a wider pook of both domestic and international investors for socio-economic development.
Business
Vietnam’s rice exports may exceed 2024 target
With positive results recorded so far, Vietnam can exceed its target of 7.6 million tonnes in rice export volume set for 2024, Nguyen Ngoc Nam, Chairman of the Vietnam Food Association, said at a conference in the Mekong Delta city of Can Tho on April 26.
Business
Ample room for Quang Ninh to attract FDI
The northeastern province of Quang Ninh has ample room to attract foreign direct investment (FDI) and realise the goal of attracting 3 billion USD in FDI this year and 10 billion USD in the 2020-2025 period.
Business
Long An, Dong Nai introduce strengths in RoK
The southern province of Long An and Dong Nai introduced their investment climate as well as socio-economic development orientations at an investment promotion conference held in the Republic of Korea (RoK) on April 26.
