Expanding cooperation between the Vietnamese-Canadian business communities

VCCI President Pham Tan Cong and Canadian Ambassador to Vietnam Shawn Steil

During a meeting with Pham Tan Cong, President of the Vietnam Chamber of Commerce and Industry (VCCI), Canadian Ambassador to Vietnam Shawn Steil stated that Canada is a promising investor in Vietnam, with numerous potential areas for future collaboration between the two countries' business communities.

The Canadian Ambassador's purpose is to help Vietnam from both a political and economic viewpoint until 2045. As a result, the meeting with VCCI is viewed as a critical step in achieving this goal.
Canadian investors, in particular, are cautious, meaning that they will carefully assess chances in a given country. They will strike a balance between the rewards and hazards. Canadian businesses are especially concerned with regulatory issues, the environment, stability, transparency, dependability, and a variety of other aspects.

Ambassador Shawn Steil believes that VCCI would strengthen its collaborative interactions with the embassy in order to promote investment partnership prospects in the market to Canadian firms, therefore unleashing further investment potential in Vietnam.

Furthermore, green energy presents a significant opportunity for partnership between the Vietnamese and Canadian corporate groups. Ambassador Shawn Steil stated that Canada, Vietnam's historic partner in the green energy transition, is now offering expertise to assist Vietnam in this area.

At the meeting, the Ambassador also invited the President of the VCCI to attend the opening session of the two nations' combined economic trade conference. According to the Canadian Ambassador, this provides a chance for the government to hear the opinions of the Vietnamese business sector, represented by VCCI. Furthermore, he advised that VCCI set up a meeting with the Canadian Business Council during the Canadian Minister's impending visit to Vietnam.

In response to the Canadian Ambassador's comments, the VCCI President noted that Vietnam's economy is now enjoying strong growth. When combined with Vietnam's ambition of becoming a developed, high-income country by 2045, there are enormous chances for foreign corporations, particularly Canadian enterprises, to capitalize on the market potential.

Meeting between VCCI President Pham Tan Cong and Canadian Ambassador to Vietnam Shawn Steil

According to Mr. Pham Tan Cong, Vietnamese enterprises are now interested in expanding into the North American market. As a result, the Canadian market might become a viable export destination, allowing Vietnamese businesses to expand extensively into this region.

Furthermore, the President of the VCCI requested that the Canadian Embassy in Vietnam actively exchange information and work closely with the VCCI to give insights into the market, partners, investment partnership prospects, and so on. This would help Canadian firms extend their operations into Vietnam.

The President of the VCCI and the Canadian Ambassador to Vietnam both believe that small and medium-sized firms (SMEs) in both countries must share their experiences in competing in the global market, as well as continuing to learn in order to grow. Given the capabilities and dynamism of both countries, economic collaboration between Vietnam and Canada has the potential for strong growth in the future.