Vietnam-Canada Investment Forum opens up cooperation opportunities

Illustrative image (Photo: VNA)

Hanoi – The Vietnam-Canada Investment Forum was held online on April 7 (Canada time), offering a good opportunity for the Southeast Asian nation to promote and attract investment, and to intensify the supply chain between the two sides at a time when both economies are showing signs of good recovery.

The forum was among activities organised by the Vietnamese Embassy in Canada to promote the economic diplomacy so as to serve the national development cause.

Ambassador Pham Cao Phong said that the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) of which both are founding members has facilitated their trade, investment and supply chain.

According to him, Vietnam is an attractive destination for investment and business activities thanks to its political and macroeconomic stability, geographical location, favourable environmental and land conditions, dynamic and abundant human resources and many other factors. Vietnam has improved business and investment policies, and developed master plans such as "Make in Vietnam 2025", and the Vietnam Industrial Development Strategy to 2025, with a vision to 2035 to realise its long-term growth potential.

Member of provincial Parliament of the Legislative Assembly of Ontario Laurie Scott, who is Parliamentary Assistant to the Minister of Economic Development, Job Creation and Trade, said that Ontario hopes to consolidate its relations with Vietnam, which has been Canada’s biggest trade partner in ASEAN since 2015.

Notably, two-way trade between Ontario and Vietnam hit nearly 6 billion CAD (4.76 billion USD) in 2021, accounting for over 50 percent of the two countries’ total trade value.

In the context of Ontario exerting efforts to diversify international trade, the province's administration is eyeing cooperation opportunities with Vietnamese businesses in financial services, information technology and infrastructure.

At the forum, representatives from the two countries’ companies such as FPT Canada, Manulife Vietnam and Dan On Food Canada shared their experience in market approach.