Canadian province opens Forestry Innovation Investment office in Binh Duong
The Canadian province of British Columbia opened a Forestry Innovation Investment (FII) office in Vietnam’s southern province of Binh Duong on April 20.
Vietnamese Consul General in Vancouver Nguyen Quang Trung (second from the right) attends the launch of a Forestry Innovation Investment (FII) office in the southern province of Binh Duong on April 20. (Photo: VNA)
Ottawa (VNA) – The Canadian province of British Columbia opened a ForestryInnovation Investment (FII) office in Vietnam’s southern province of Binh Duongon April 20.
TheFII office in Binh Duong, a major industrial hub, is the third of its kind setup overseas by British Columbia with a view to ensuring a supply of sustainablesoftwood products with origin certified in Vietnam.
Vietnamis currently the world’s second largest exporter of wooden furniture. Thevolume of softwood British Columbia exported to the country grew 59 percentduring 2017 - 2021.
Addressingthe launch via videoconference, British Columbia’s Minister of State for TradeGeorge Chow said the office opening is also a chance for his province topromote its trade and investment reputation.
Vietnam’sConsul General in Vancouver Nguyen Quang Trung applauded the opening, notingthat together with many other substantive activities between Vietnameseprovinces and British Columbia, it is among the practical moves towards thefifth anniversary of the countries’ comprehensive partnership in 2022 and the 50th anniversary of their diplomatic ties next year.
Healso pledged that the Consulate General of Vietnam in Vancouver will serve as abridge for economic activities between British Columbia and Vietnameselocalities.
Despitethe pandemic’s impacts, trade between Vietnam and British Columbia stillreached 2.5 billion CAD (about 2 billion USD) in 2021, Trung noted, citingstatistics as showing that the Canadian province exports about 20 million CADworth of wood to Vietnam each year./.
Vietnamese wood and furniture products are expected to grow in 2022 due to the purchasing demand of the international market along with meeting necessary factors in Free Trade Agreements (FTAs).
Many enterprises in the wood industry have received enough orders to keep their workers busy throughout the third quarter and even to the end of this year thanks to their quick resumption of production.
The webinar and online business matching themed “Vietnam – UK Furniture Trade Opportunities” took place on April 19 for participants to discuss opportunities, challenges and ways to boost exports of Vietnamese furniture to the UK.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
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Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
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A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
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The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
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The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
While the US market has become more difficult to access due to new tax policies, Australia could play the role of a trade cushion, helping to reduce shocks and maintain export momentum for Vietnam's shrimp industry.
Vietnamese Consul General in Vancouver Nguyen Quang Trung (second from the right) attends the launch of a Forestry Innovation Investment (FII) office in the southern province of Binh Duong on April 20. (Photo: VNA)
