The Canada trade delegation attends the second meeting of the Vietnam – Canada Joint Economic Committee in Hanoi on March 27 (Photo: VNA) Ottawa (VNA) – ExportDevelopment Canada (EDC)'s news website edc.ca has recently publishedan article on opportunities for Canadian companies when investing in Vietnam.
According to the article, Vietnam is quickly becoming thenew Asian hub with rapid macro-economic growth and opportunity.
To help Canadianexporters and investors take advantage of the vast potential within thismarket, within the framework of the Canadian trade delegation's visit toVietnam, EDC announced that it will open a new representative office in Ho ChiMinh City to ensure it can provide Canadian exporters and investors with whatthey need to enter the market.
Mairead Lavery,President and CEO of EDC, said that Vietnam is unique and it will offer anopportunity for Canadian companies and investors to penetrate this market,adding that EDC will act as a partner that can provide support.
According to Lavery, Vietnamoffers Canadian exporters a geographical advantage to enter other Indo-Pacificmarkets with ease while also providing companies a cost-competitive advantagein doing business.
With a growing middleclass and one of the fastest growing economies in the world, exporters andinvestors should view this market as a significant opportunity for growth inthe region, he said, noting that locating at the heart of the Indo-Pacific make Vietnam attractive for exporting and developing a company’s hub.
According to NewWorld Wealth, Vietnam is positioned to see the sharpest spike in wealth growthin the world over the next decade. In addition, the Vietnamesegovernment has committed to achieving carbon neutrality by 2050. This creates an opportunity for investors and companies in a variety of sectors of Canadianstrength, including clean technology and renewable, agriculture, advancedmanufacturing and infrastructure, the article wrote.
Mary Ng, Canada’s Ministerof Export Promotion, International Trade and Economic Development, said that Vietnam'srapid economic growth in the Indo-Pacific region positions the country as apromising hub for Canadian businesses.
As Canada's largesttrading partner in the Association of Southeast Asian Nations (ASEAN) and a keymember of the Comprehensive and Progressive Agreement for Trans-PacificPartnership (CPTPP), Vietnam offers favourable prospects for exporters andinvestors of the North American nation.
The new EDCrepresentative office in HCM City will be a valuable resource for Canadiancompanies seeking to grow into the Indo-Pacific region, she added./.
