Vietnam, Canada seek to boost economic cooperation
Economic cooperation is a driving force of the comprehensive partnership between Vietnam and Canada, Vietnamese Ambassador to Canada Pham Cao Phong has said.
Ottawa (VNA) – Economic cooperation is a drivingforce of the comprehensive partnership between Vietnam and Canada, VietnameseAmbassador to Canada Pham Cao Phong has said.
Speaking at a seminar, organised on November 9 by the Vietnamese Embassy in Canada in both virtual and face-to-face forms, Phong said that Vietnam has been Canada's largest trading partner in theAssociation of Southeast Asian Nations (ASEAN) for a long time, with two-way trade increased morethan 6.2 times over the past 10 years.
The ambassador said the seminar reflected the embassy's efforts to strengthenpolicy dialogue, and trade and investment promotion to facilitate Vietnam-Canadaeconomic linkages in the context that the global supply chain and economicrecovery process have faced difficulties in the post-COVID-19 period.
Canadian Minister of International Trade, Export Promotion, Small Business andEconomic Development Mary Ng highly appreciated the role of the Comprehensive and ProgressiveAgreement for Trans-Pacific Partnership (CPTPP) to which both Canada and Vietnam aremembers. The deal has created great opportunities for businesses inboth countries, she said.
The value of two-way trade between Canada and Australia, Japan,New Zealand, Singapore and Vietnam - the five nations which had ratified the CPTPP and had no other trade deals with Canada - grew by nearly 10% from 47.3 billion CAD in 2018 to52.1 billion CAD in 2021, the minister said, adding that Canada’s exports to these countriesalso increased by 8.3% in the period, much higher than its export growth to the rest of the world.
Lisa Thompson, Minister of Agriculture, Food and RuralAffairs of Ontario, affirmed that Canada's most populous province wants to strengthen itslongstanding relationship with Vietnam and underscored opportunities in thefield of trade and investment between the two countries.
At the seminar, economic experts Vo Tri Thanh, Can Van Luc and Nguyen Anh Tuan, Deputy Director of the Department of Foreign Investment under theMinistry of Planning and Investment, briefed participants about Vietnam'seconomic development and preferential policies to attract foreign investment aswell as areas that the country is calling for investment./.
With the COVID-19 pandemic restrictions eased, the granting of visas should be made more convenient and quick to boost cultural and people-to-people exchanges and enhance friendship between Vietnam and Canada, Ambassador to the country Pham Cao Phong told an event on October 3.
Vietnam attended the International Tourism and Travel Show that took place in Montreal, Canada, from October 28-30 after two years of absence due to impact of the COVID-19 pandemic.
An official has advised businesses to adopt green practices to secure sustainable growth in textile and garment export to Canada, where Vietnam ranks second among the exporters of such products.
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.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
Illustrative image (Photo: VNA) 
