HANOI (ANN/VIET NAM NEWS) – Canadian companies looking to develop in the Southeast Asia should consider investing in Vietnam, the gateway to the Association of Southeast Asian Nations (ASEAN) region.
The recommendation was made by Director General of the Indo-Pacific Region, Gabriel Chartier of the Quebec Ministry of International Relations and Francophonie, at a seminar to evaluate investment potential in Vietnam and the Association of Southeast Asian Nations (ASEAN) region held in Canada this week, according to a report by the Vietnam News Agency on September 15.
Themed “Việt Nam, the door to the Indo-Pacific for Quebec businesses”, the seminar has attracted the interest of many businesses and entrepreneurs in Canada’s province because it offers an opportunity to reassess the level of awareness and utilisation of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) by Canadian businesses after five years of implementation.
In his opening remarks, Director General Chartier emphasised Quebec’s special cooperative relationship with Vetnam. The companies of the province always have a competitive advantage thanks to their closeness in language and culture.
Vietnam is currently Canada’s largest trading partner in the ASEAN region and a leading destination for Canadian goods exported to ASEAN, Chartier said.
He also stated that the Quebec Government always gives priority to Vietnam and considers the Southeast Asian country a new intersection in the global value chain because of its potential in key fields, including renewable energy.
At the seminar, Vietnamese Trade Counsellor in Canada, Trần Thu Quỳnh, mentioned that the Vietnamese Government has been promoting investment in infrastructure to strengthen the connection between Vietnam and Canada in the supply chain.
Quỳnh shared the latest information on the results of economic, trade, and investment cooperation between the two countries after five years of implementing the CPTPP, so that Quebec businesses can consider capitalising on this agreement in their business strategies.
Nguyễn Thị Bé, executive director of the Canada-ASEAN Business Council, said the Council’s latest report on development plans in ASEAN indicates that Vietnam is viewed as the place with the most opportunities in the region.
Canada’s participation in the new strategic partnership with ASEAN will further enhance the potential for future trade and investment development.
ASEAN is considered the fastest-growing economic region in the world and is expected to be the world’s consumption centre by 2030, owing to its market size.
The bloc is currently the fifth largest economy in the world and is emerging as a new global hub for trade, exchange, and innovation.
The Indo-Pacific region is currently the second largest international export market for the Quebec province and is also one of Canada’s fastest-growing markets in recent years.
The seminar was also one of a series of events celebrating the 50th founding anniversary of diplomatic relations between Canada and Vietnam and the 30th anniversary of the establishment of the Trade Office in Canada.
