Vietnam seeks investment cooperation opportunities in Canada

MIBIExpo serves as a forum to promote business opportunities and connect Canada with the world, creating mutually beneficial partnerships. This year’s event focused on five key areas, namely business investment, real estate, immigration, education, and tourism.

Vietnam’s participation highlights its desire to foster connections and create an ecosystem under existing free trade agreements between the two countries, as well as the upcoming ASEAN-Canada Free Trade Agreement, said Tran Thu Quynh, trade counsellor of Vietnam in Canada.

Quynh told Vietnam News Agency that this is the first time the Vietnam Trade Office has attended an overseas industrial and energy investment promotion exhibition. She noted that, in light of Canadian companies’ shifting focus toward domestic production or nearshore partners, Vietnam aims to attract partners with similar advantages under free trade agreements and complementary benefits.

Vietnam and Canada are particularly well-matched in this area, able to support each other and optimize production processes and supply chains, and through MIBIExpo 2024, it hopes that many investors from the Francophone region will discover business opportunities in Vietnam, said the trade official.

Aref Salem, a Montreal City Councilor for district Saint Laurent, highlighted that this forum could connect Montreal businesses with Vietnamese counterparts, noting that while Montreal serves as a gateway to North America, Vietnam is a gateway to Southeast Asia.

Salem commented on Vietnam’s impressive growth and market potential, suggesting that Montreal-based companies expand into Vietnam. Given that Asian communities often build trust before conducting business, this forum can lay the foundation for mutual understanding and confidence.

Vietnam and Montreal now have direct shipping links via the Hai Phong port, facilitating logistics and supply chains. Known for its cultural diversity, Montreal is well-positioned to connect communities and foster business opportunities.

Vietnam’s participation in the exhibition offers new opportunities to expand business and investment cooperation with the Montreal region, while also strengthening trade links between Vietnam and Canada and throughout North America.