The Vietnam Chamber of Commerce and Industry (VCCI)'s Branch in Ho Chi Minh City and Intrinsic Innovations Vietnam – a non-profit incubator based in Alberta, Canada – co-organised a workshop on Vietnam-Canada investment opportunities in the southern economic hub on December 2.
VCCI Vice President Vo Tan Thanh speaks at the workshop. (Photo: VNA)
HCM City (VNA) – The Vietnam Chamber ofCommerce and Industry (VCCI)'s Branch in Ho Chi Minh City and Intrinsic Innovations Vietnam – a non-profit incubator based in Alberta, Canada – co-organised aworkshop on Vietnam-Canada investment opportunities in the southern economic hub on December 2.
Canada is currently Vietnam's second largest trading partnerin the American market, while Vietnam is Canada's largest trading partner inthe Association of Southeast Asian Nations (ASEAN). Since the establishment of theircomprehensive partnership in 2017, trade turnover between the two countries has increasedstrongly, recording more than double-digit growth over the years.
Between 2017 and 2021, the bilateral import-export valuerose from 3.5 billion USD to 6.03 billion USD. In the first seven months of2022, the figure stood at over 4.27 billion USD.
VCCI Vice President Vo Tan Thanh said Vietnam has greatpotential in supplying items such as textiles, garments, footwear, farmproduce, and wooden products to the Canadian market, while Canada is areliable manufacturer of such items as machinery, and raw materials forindustrial production.
Although trade between the two nations has made positiveprogress, it is still not commensurate with the potential of theirrelationship, Thanh noted, suggesting the two sides tackle hurdles and facilitatetheir enterprises’ access to the respective markets.
CEO of Intrinsic Innovations Vietnam Tuan Le said anadvantage of Vietnam in approaching the Canadian market is a community of morethan 260,000 Vietnamese expatriates there.
Oversea Vietnamese in Canada have been making important contributions to the Canadian economy and connecting the twocountries, he added.
Brent Jensen, investment and trade director at EdmontonGlobal, a Canadian-based FDI and international business development agency,recommended Vietnamese firms take advantage of incentives to approach and learnabout cooperation opportunities in fields of their advantages such asagriculture, education, and vocational training, thereby exploiting thepotential of the North American market./.
Canada wants to diversify supply sources to avoid disruption in supply chains, and is interested in supply sources in Vietnam amidst complicated developments in the world situation, the Vietnamese Trade Office in Canada said, advising Vietnamese businesses to optimise their advantages to boost their exports to Canada.
The Vietnam-Canada Business Association (VCB Association) made its debut in Ottawa on October 1, meeting the Vietnamese and Canadian business communities’ demand to meet, connect with and support each other during trade and investment activities.
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Economic cooperation is a driving force of the comprehensive partnership between Vietnam and Canada, Vietnamese Ambassador to Canada Pham Cao Phong has said.
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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.
VCCI Vice President Vo Tan Thanh speaks at the workshop. (Photo: VNA) 
