Vietnamese enterprises seek business opportunities in Canada

A workshop was held on October 2 in the Canadian city of Montreal for Vietnamese enterprises to seek business opportunities with Quebec Province, especially in the field of supporting industries.

A discussion between Vietnamese and Canadian enterprises (Photo: VNA)
A discussion between Vietnamese and Canadian enterprises (Photo: VNA)

The event was jointly held by the Vietnamese Ministry of Industry and Trade (MOIT) and the Vietnam Association of Supporting Industries (VASI).

According to Daniel Dignard at Quebec's Ministry of Economy and Innovation, for enterprises of Quebec and Canada in general, Vietnam is a new, developing and increasingly important market.

He stated that Vietnam is a competitive destination in terms of market access and ability to take part in manufacturing activities, adding that Canadian enterprises are optimistic about the Vietnamese market's further growth.

Vietnam is expected to maintain its status as Canada's largest trading partner in ASEAN and the fifth largest in Asia in 2019.

In the first seven months of 2019, Vietnam's exports to Canada surged 32.69% to reach US$2.212 billion.

According to Nguyen Hong Duong at the MOIT, Vietnam can cooperate with Canada in many fields, such as the automotive industry, textiles, and food processing.

VASI Vice Chair Truong Thi Chi Binh stated that the past 1-2 years have seen many Canadian enterprises looking for suppliers in Vietnam, noting that the parts that Canada needs are perhaps suitable with the production capacity of Vietnamese enterprises.

Through business-to-business dialogues, the workshop helped Canadian and Vietnamese enterprises to connect, seek opportunities for market expansion, and enhance production capacity.

With an improving business climate, Vietnam is becoming an attractive destination for many manufacturing enterprises.

The comprehensive partnership between Vietnam and Canada and the CPTPP, that both countries are members of, are laying a solid foundation for their enterprises to forge further cooperation in the future.