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British Columbia and Vietnam

B.C. and Vietnam maintain a stable economic relationship that is supported by the CPTPP. Vietnam possesses a growing population with a rising purchasing power and has shifted significantly towards a value-added economy. As a country with a prominent international trade presence, there are many opportunities for B.C. companies to seek new collaborations and partnerships in a variety of sectors.

Trade & Investment Highlights

International trade accounts for over 200% of Vietnam’s GDP and it is one of the most open to trade economies globally.
Comprehensive and Progressive Agreement for Transpacific Partnership – the CPTPP supports B.C. exporters by eliminating tariffs on Canadian exports into Vietnam.
UN Framework Convention on Climate Change and the Kyoto Protocol – Vietnam pledged to net-zero emissions by 2050 at the COP26 Summit.
In the last two decades, Vietnam has undergone significant economic and social reform. Median household incomes have quadrupled, and extreme poverty has decreased from 50% to 2%.

Vietnam at a Glance

Monetary figures are in USD

Opportunity for Foreign Investors and B.C. Exporters

Aerospace

According to the International Air Transport Association, Vietnam is the world’s fifth largest growing aviation market. Vietnam’s airports are exceeding capacity in terms of passengers and cargo and the Government is investing in infrastructure advancements. The country’s extensive infrastructure development, rapid growth of aircraft fleet and high rate of outsourced MRO services has generated many opportunities for B.C. companies.

Agrifood & Agritech

Canada’s agricultural practices are regarded for quality and safety. B.C. can leverage this reputation and navigate opportunities for modern food production techniques with high quality inputs. Consumers in Vietnam are increasingly willing to pay for quality, convenient and healthy food products. Vietnam’s consumption has risen, and domestic supply will not meet demand. B.C. exporters can capitalize on these opportunities and Vietnamese consumers can benefit from increased product accessibility.

Cleantech

With a mutual interest in developing an energy transition agenda, B.C. and Vietnam have committed to a Net Zero target by 2050. Vietnam’s National Power Development Master Plan VIII places an emphasis on renewable energy development. Vietnam has ideal weather conditions for solar and wind production and there is potential to grow the renewable energy sector. B.C. exporters can support Vietnam with niche renewable energy technologies – particularly in the field of hydrogen and fuel cells.

Forestry

Vietnam’s forestry sector is increasing its focus on certified sustainable sources. Canada contains more third-party certified forests than any other country, creating opportunity for B.C. businesses. A decrease in the supply of traditionally used Southeast Asian hardwoods and reduced barriers to trade wood, paper and pulp particles through the CPTPP has created space for B.C. to further establish its presence in Vietnam’s forestry market.

ICT

Vietnam is rapidly transitioning towards a digital economy and is expected to import the bulk of its hardware, software and services. The fintech sector in Vietnam also has a high growth potential due to a rising middle class, economic growth, large youthful population and low banking penetration rate. This provides trade and investment opportunities for B.C. companies entering the market.

Life Sciences

There is demand for advanced healthcare products and services in Vietnam. The country has the second highest healthcare expenditure as a percentage of GDP in Southeast Asia and this is expected to grow in coming years. There are opportunities for B.C. companies to support Vietnam’s life sciences sector in meeting its demand for medical equipment, digital health and health education training.

Vietnam Top Industries (2017-2021)

Key Market Landing Pages Infographic - Vietnam

Trade & Investment Resources

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How We Help

Assist in commercial location identification and site selection.
Provide information on transportation infrastructure and logistics gateways.
Offer introductions to sector associations, industries and provide cluster insight.
Facilitate understanding and solutions for talent, skilled workforce and labour mobility
Facilitate engagement with professional advisors on legal, compliance and tax matters
Help navigating and offering referrals within government agencies on First Nations, business and regulatory processes.

Identify high potential investment opportunities and offer industry insight.
Introductions to sector associations and local industry contacts.
Introductions to companies seeking investments to expand.
Provide knowledge on local innovation hubs and connections to entrepreneurial opportunities.
Introductions to local venture capital networks.

Assist in navigating government export programs and financial supports.
Advice and coaching in international expansion and exporter development.
Support Team BC missions and trade events.
Match buyers and sellers in local and foreign markets.
Provide insight on trade agreements and barriers.
Introductions to trade representatives in foreign markets.
Market entry assistance in international markets.

Trade & Investment Offices

Vietnam
- Ho Chi Minh City

Ho Chi Minh City

The British Columbia trade and investment office for Vietnam is located in Ho Chi Minh City, Vietnam. The office provides B.C. companies with direct market access into Vietnam and other countries in the rapidly growing ASEAN economic region.

Our experienced trade and investment professionals help export-ready companies network and capitalize on business opportunities in the region; we invite you to contact us to learn more.

Vietnam Office:
Consulate General of Canada
The Metropolitan, Suite 1002,
235 Dong Khoi Street, District 1,
Ho Chi Minh City, Vietnam

Contact our Trade and Investment Representatives. Our team welcomes your inquiries:

Rohan Belliappa
Managing Director, ASEAN

An Vuong
Senior Commercial Officer

Connect With Our International Network

Our Trade and Investment Representatives can help you establish the right connections, participate in events and tradeshows, explore programs and initiatives, and more. Connect with an expert near you.

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