Canadian businesses believe in Vietnam’s medium-term economic outlook
Canadian entrepreneurs have voiced their belief in Vietnam’s economic outlook despite the fourth wave of COVID-19 outbreaks and the adverse impacts of the pandemic on the country’s activities and momentum growth.
Hanoi (VNA) - Canadian entrepreneurs have voiced their belief in Vietnam’s economic outlook despite the fourth wave of COVID-19 outbreaks and the adverse impacts of the pandemic on the country’s activities and momentum growth.
In an interview with the Vietnam News Agency’s correspondent, Marc Djandji, Chartered Financial Analyst (CFA) at the ASEAN Strategy Group Limited advisory firm, said the Southeast Asian nation is one of the world’s most dynamic stock markets and its economy has stayed resilient until the first half of 2021.
Vietnam’s economic activities will be restrained in the coming months due to the spread of COVID-19. Industries, manufacturing and construction, which serve as a driving force for the economy, are bearing the brunt of current outbreaks, he said.
Djandji underlined that Vietnam’s recovery will depend on the implementation of COVID-19 vaccination drive in the country, speaking highly of the country’s strong sense of collective responsibility and solidarity.
According to him, the Vietnamese economy will remain stable and be driven by industrialisation and urbanisation in the medium term.
The country will continue to benefit from its integration into the global supply chain, foreign direct investment attraction and a rapid growth rate in manufacturing, he added.
Echoing Djandji’s views, Phil Witherington, Chief Financial Officer at Manulife insurance company said although the resurgence of COVID-19 may cause short-term impacts, the Vietnamese market’s potential in the long-term remains robust and stable.
The Vietnamese Government has taken essential steps and joined hands with firms to protect workers and customers in Vietnam, as well as exert efforts in economic development.
He went on to say that Vietnam is among countries earning economic success in the region and one of Manulife’s largest markets in Southeast Asia.
With a projected population of 120 million people by 2050, Vietnam is viewed as an attractive destination for Canadian businesses. In addition to trade, cooperation opportunities have emerged in other fields of investment, financial services and infrastructure development, among others.
The country posted a gross domestic product growth rate of 5.64 percent in the first half of this year.
Vietnam’s GDP is forecast to hit 4.8 percent this year, according to the World Bank./.
Vietnam and Canada should utilise the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), to which both are signatories, and other free trade agreements (FTAs) to better facilitate bilateral trade and investment ties, Vietnamese Ambassador to Canada Pham Cao Phong has said.
Preferential tariff treatment under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) has brought in robust results to the trade in goods between Vietnam and Canada, according to insiders.
The Trade Facilitation Office (TFO) Canada and the Vietnamese Ministry of Industry and Trade’s Trade Promotion Agency (VIETRADE) signed a cooperation agreement via videoconference on June 1 to improve the export capacity of women-led enterprises in Vietnam during the 2021-2024 period.
Minister of Foreign Affairs Bui Thanh Son on June 14 held phone talks with his Canadian counterpart Marc Garneau, during which he said Vietnam highly values Canada’s efforts in enhancing its relations with ASEAN and Vietnam.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
A plant in Vietnam (Illustrative photo: VNA) 
