Forum explores cooperation potential between Vietnamese, Canadian firms
Cooperation potential between Vietnamese and Canadian enterprises was discussed at the Vietnam – Markham Business Forum held recently in Ottawa.
The forum, organised by the Vietnam – Canada Friendship Association (VCFA), the Canada – Vietnam Friendship Association (CVFA), the Canada – Vietnam Trade Council, and the Markham Board of Trade, draw the participation of representatives from Markham city, over 20 enterprises in the region, and overseas Vietnamese who sought investment opportunities in the fatherland.
It took place on the occasion of the trip to Canada by the Vietnam Union of Friendship Organisations (VUFO) to attend activities to mark 50th anniversary of the Vietnam – Canada diplomatic relations.
General Secretary of the VCFA Nguyen Nang Khieu said that the relations between Vietnam and Canada are in the best shape, especially after both sides upgraded their ties to a Comprehensive Partnership and engaged in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
He affirmed that people-to-people exchanges have contributed to bolstering the trade value between the two sides since 2018.
Last year, two-way trade revenue stood at US$7 billion, he said, adding the figure reached nearly US$4 billion in the first seven months of this year, and both sides are striving to trade US$10 billion worth of goods for the whole 2023.
Registering nearly US$4.9 billion in 253 projects in Vietnam, Canada ranks 14th among the countries and territories landing investment in Vietnam.
Meanwhile, vice president in charge of Markham city’s culture and economic development affairs Amanda Collucci introduced the city’s economic potential as well as its enterprises’ investment and cooperation activities.
Markham, located in the Greater Toronto Area, is a leading destination for foreign investments in Canada, she said, adding it is also the country’s most diverse city with excellent public services and vibrant economy.
At the event, Chairman of Vinacare Pharmaceutical Joint Stock Company Tran Van Truong suggested Canadian firms invest in Vietnam’s pharmaceutical industry, elaborating Vietnamese are spending more on health care while the Government has a lot of incentives for the sector.
Enterprises of both sides also discussed legal challenges for bilateral trade and investment activities, as well as Canada’s policies in its economic-trade ties with Vietnam.
The VCFA recommended further cooperation with the CVFA through enhancing people-to-people and business exchanges, focusing on three sectors of agriculture, health care and education.
