The agreement aims to create new opportunities for Canadian exporters and investors in key sectors, including infrastructure, energy, retail, healthcare and financial services - areas where Canadian expertise aligns with Vietnam’s development priorities.

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The MoU signing ceremony between Export Development Canada (EDC) and VinaCapital in HCM City on August 14. (Photo courtesy of the Consulate General of Canada in HCM City)

Under the MoU, EDC and VinaCapital will collaborate to support Canadian companies seeking to enter or expand their presence in Vietnam.

Since the inception of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), bilateral trade between the two countries has increased from 6.5 billion CAD (4.7 billion USD) in 2018 to 15.7 billion CAD (11.36 billion USD) in 2024.

With Vietnam’s growing demand for infrastructure, clean energy and advanced manufacturing, the partnership is poised to help connect Canadian capabilities with Vietnamese opportunities.

Launched last year, EDC’s representation in Ho Chi Minh City has been a valuable resource for Canadian companies and investors seeking to grow into the Vietnamese market and broader Indo-Pacific region.

“I am proud to support the strengthening of commercial ties between Canada and Vietnam to help build new partnerships between Canadian and Vietnamese companies. Vietnam’s rapid economic growth in the Indo-Pacific region positions the country as a promising hub for Canadian businesses," said Canadian Minister of International Trade Maninder Sidhu.

"As Canada’s largest trading partner in ASEAN and a key member of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Vietnam offers favorable prospects for our exporters and investors. The new MoU between EDC and VinaCapital will further deepen our bilateral relations and help Canadian companies succeed in this important market,” Sidhu said.

Source: VNA