Toronto (VNA) – “Vietnam hasmoved well beyond the devastation of the war years and is a ready and willingpartner for Canada”, wrote Stewart Beck, President and CEO of the Asia PacificFoundation of Canada in a recent article for Canada-based The Globe and Mail.
Beck was in Ho Chi Minh City, Vietnam lastweek for the 24th Asia-Pacific Economic Cooperation (APEC) Small andMedium Enterprises Ministerial Meeting.
Beck was in Ho Chi Minh City, Vietnam lastweek for the 24th Asia-Pacific Economic Cooperation (APEC) Small andMedium Enterprises Ministerial Meeting.
“The memory of the Vietnam War is stillvivid in the minds of many from my generation”, he opened the article. Afterthe war, Canada accepted about 60,000 Vietnamese refugees from 1979 – 1980,established an embassy in Hanoi in 1994 and a consulate-general in HCM City in1997, the article said.
Since then, Vietnam has become Canada’s 11th largest source of international students and trade between the two countries reached5.5 billion USD in 2016. With itsextraordinary economic growth, increasingly liberalised economy, commitment toglobal integration, its membership in la Francophonie and large diaspora,Vietnam is a key collaborator in ASEAN and APEC.
Beck mentioned that Vietnam’s GDP grew 6.2percent last year, more than four times higher than Canada’s. About 43.7million of the country’s population have connected to the internet and itsmiddle class is burgeoning, he described, adding that “the explosive success of Vietnam's startup community hasgenerated a "reverse brain-drain," with young Vietnameseentrepreneurs returning home from abroad to establish or work in startups,bringing with them new knowledge and skills that will invigorate Vietnam'seconomy for years to come.”
He believednow is the time for Canada to engage deeper with Vietnam and its APEC and ASEANpartners and like these countries, Canada sees micro, small and medium-sizedenterprises (MSMEs) as the engines of growth and innovation in APEC.
Since then, Vietnam has become Canada’s 11th largest source of international students and trade between the two countries reached5.5 billion USD in 2016. With itsextraordinary economic growth, increasingly liberalised economy, commitment toglobal integration, its membership in la Francophonie and large diaspora,Vietnam is a key collaborator in ASEAN and APEC.
Beck mentioned that Vietnam’s GDP grew 6.2percent last year, more than four times higher than Canada’s. About 43.7million of the country’s population have connected to the internet and itsmiddle class is burgeoning, he described, adding that “the explosive success of Vietnam's startup community hasgenerated a "reverse brain-drain," with young Vietnameseentrepreneurs returning home from abroad to establish or work in startups,bringing with them new knowledge and skills that will invigorate Vietnam'seconomy for years to come.”
He believednow is the time for Canada to engage deeper with Vietnam and its APEC and ASEANpartners and like these countries, Canada sees micro, small and medium-sizedenterprises (MSMEs) as the engines of growth and innovation in APEC.
According toBeck, Vietnam has about 600,000 registered MSMEs, a number that is growing bymore than 100,000 annually. An estimated 14,500 new MSMEs were established inthe first two months of 2017 with total registered capital of some 8.2 billionUSD.
Canada canleverage its expertise in technological innovation, entrepreneurship and greengrowth to strengthen these MSMEs in Vietnam and the APEC region, he noted.
“There isalso an opportunity to connect Canadian businesses with new and like-mindedpartners in APEC economies such as Vietnam, where Canadian companies will findopportunities in sectors such as agri-food, education and training, informationand communication technologies, clean tech and financial technology, as well asother services.”
He suggestedCanada engage in the development of Vietnamese start-ups at early stages,providing them mentorship and technological help. He also urged Canada tocollaborate with Vietnam in e-commerce and virtual education and training.-VNA
Canada canleverage its expertise in technological innovation, entrepreneurship and greengrowth to strengthen these MSMEs in Vietnam and the APEC region, he noted.
“There isalso an opportunity to connect Canadian businesses with new and like-mindedpartners in APEC economies such as Vietnam, where Canadian companies will findopportunities in sectors such as agri-food, education and training, informationand communication technologies, clean tech and financial technology, as well asother services.”
He suggestedCanada engage in the development of Vietnamese start-ups at early stages,providing them mentorship and technological help. He also urged Canada tocollaborate with Vietnam in e-commerce and virtual education and training.-VNA
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