Vietnam – a gateway for Canadian firms to enter ASEAN: Canadian business insiders
Being the largest trade partner of Canada in ASEAN, with two-way trade topping 7 billion USD in 2022, Vietnam will play an important role as a gateway for Canadian firms to enter the region bloc that has one of the highest growth rates in the world and is expected to be the world’s consumption centre by 2030 given its market size, according to Canadian business insiders.
At the "Vietnam, the door to the Indo-Pacific for Quebec businesses" forum (Photo: VNA)
Ottawa (VNA) – Being the largest trade partner of Canada in ASEAN,with two-way trade topping 7 billion USD in 2022, Vietnam will play an importantrole as a gateway for Canadian firms to enter the region bloc that has one of thehighest growth rates in the world and is expected to be the world’s consumptioncentre by 2030 given its market size, according to Canadian business insiders.
Canadian enterprises, including those from Quebec, have expressed their keeninterest in the Vietnamese market, given the thriving trade ties between thetwo countries since the Comprehensive and Progressive Agreement forTrans-Pacific Partnership (CPTPP) came into force five years ago.
Trade revenue between the two countries rose from 3.86 billion USD in 2018 tomore than 7 billion USD in 2022. During January – June this year, the figure reached 3.6billion USD.
Director General of the Indo-Pacific Region under the Quebec Ministry of InternationalRelations and Francophonie Gabriel Chartier said that the ministry rolled out itsIndia-Pacific Strategy in 2021, which identified Vietnam andother Asian countries as important partners to expand business activities.
The Quebec international investment agency was established, responsible forsupporting local firms who want to develop their business in Vietnam, he added.
There are around 125 cooperation projects between Vietnam and Quebec. Two-waytrade has exceeded 1.5 billion USD, with the Canadian side selling electronics,agricultural products and medical equipment to Vietnam, and buying footwear andclothes from the Southeast Asian country.
The two sides are planning to carry out new cooperation projects, helpingdiversify collaboration in all areas, from culture, sustainable development totechnology study.
Vice President of the Indo-Pacific at Export Development Canada (EDC) GeorgeMonize described Vietnam as an amazing market with high GDP growth and an expanding middle class.
According to Chairman of Groupe Engram Remy Franzoni, his customers have beencurious and interested in cooperation opportunities with Vietnam, which holdsstrengths in technology and electronics.
The sound Vietnam-Canada relations have contributed to concretisingCanada’s Indo-Pacific Strategy and its strategic partnership with ASEAN, hesaid, adding the Quebec authority and the Canadian Government as a whole have givenpriority to Vietnam, and consider the country a new intersection in the globalvalue chain due to the cooperation potential in key areas./.
Vietnam and Canada’s Quebec province hold special relations, but the two sides should further step up cooperation in specific areas to deepen these ties, a senior official has said.
Among members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Vietnam is the first ASEAN member country that Canadian businesses should think about when looking for investment opportunities in finance, clean energy, and farm produce and food trade, said former Deputy Prime Minister of Canada and former Premier of Quebec Jean Charest.
FPT, Vietnam’s largest IT service provider, and Mila (Quebec Artificial Intelligence Institute) have announced the renewal of their three-year strategic partnership agreement at the recent meeting of their leaders.
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.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Deputy PM Tran Hong Ha urged countries to work together to remove supply chain bottlenecks, expand market access, strengthen cooperation in smart customs procedures, mutually recognise technical standards, and eliminate unnecessary protectionist barriers to boost trade and investment.
The event has gathered over 400 exhibitors from 16 countries and territories, with more than 980 booths showcasing a wide range of products and technologies in automotive components, electronics, repair and maintenance, bodywork, accessories, and customisation.
The latest order follows Vietjet’s commitment for 20 additional A330neo aircraft last month, bringing the airline’s total widebody aircraft on order to 40.
At the "Vietnam, the door to the Indo-Pacific for Quebec businesses" forum (Photo: VNA) 
