Association to work harder for stronger Vietnam - Canada economic ties
The Vietnamese - Canadian Business Association (VCBA) is set to further promote business matching between the two countries to help fuel bilateral economic ties in the coming years.
Delegates attend the VCBA's second congress via videoconference at the Vietnamese Consulate General in Vancouver city. (Photo: VNA)
Ottawa (VNA) – The Vietnamese - Canadian Business Association (VCBA) is set to further promote business matching between the two countries to help fuel bilateral economic ties in the coming years.
The VCBA held the second congress for the 2024 - 2027 tenure in the hybrid format on July 19, attracting its members across Canada and other countries, along with representatives of the State Committee for Overseas Vietnamese Affairs under the Ministry of Foreign Affairs, and the country’s embassy and consulate general in Canada.
In his speech, new VCBA Chairman Chau Tu Cuong pledged to continue bringing into play the achievements obtained so far and show better performance in connecting and supporting the two countries’ entrepreneurs.
In a congratulatory letter sent to the congress, Deputy Minister of Foreign Affairs Le Thi Thu Hang, who is also Chairwoman of the State Committee for Overseas Vietnamese Affairs, affirmed the Foreign Ministry’s readiness to give support so that the VCBA can work more effectively, helping enhance the strength of the Vietnamese community in Canada and around the world.
The VCBA, founded in Vancouver city on August 2022, aims to gather and connect Vietnamese and Canadian entrepreneurs who share the intention to invest and do business in the two countries so as to foster bilateral economic links.
It has been officially recognised and licensed to operate across the Canadian territory by the Canadian Government. This has helped quickly increase its membership, which now doubles the initial 350 members.
🐷 Bilateral trade was maintained at more than 10 billion USD in 2022 and 2023, turning Vietnam into the largest trading partner of Canada in the Association of Southeast Asian Nations (ASEAN), statistics show./.
The export value of Vietnamese coffee to Canada reached over 4.4 million USD in the first quarter of 2024, up 12.2% compared to the same period last year.
Two Vietnamese firms – Tufoco and Sapo DAKLAK - joined SIAL Canada 2024, the largest food innovation trade show in Canada and North America, which drew tens of thousands of exhibitors from more than 40 countries and over 20,000 visitors from around the world.
Canada’s commitment to support Vietnam’s clean energy transition and goals to achieve net-zero, and its willingness to share its expertise and experiences underscore the depth of collaboration between the two countries, visiting Canadian Minister of Export Promotion, International Trade, and Economic Development Mary Ng said.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
