The signing ceremony of the MoU between EDC and VinaCapital in Ho Chi Minh City. Photo courtesy of the Consulate General of Canada in Ho Chi Minh City.
The agreement aims to create new opportunities for Canadian exporters and investors in key sectors including infrastructure, energy, retail, healthcare and financial services, areas where Canadian expertise aligns with Vietnam’s development priorities.
Under the MoU, EDC and VinaCapital will collaborate to support Canadian companies seeking to enter or expand their presence in Vietnam.
VinaCapital is a member of the Canadian Chamber of Commerce in Vietnam and a recognized partner of the Canadian Trade Commissioner Service, with experience supporting Canadian enterprises and coordinating inbound trade missions.
Through this cooperation, EDC and VinaCapital will outline a framework for collaboration, with the shared goal of advancing trade and investment between Canada and Vietnam in key sectors and promoting responsible business practices by sharing guidance on environmental, social and governance (ESG) standards.
With Vietnam’s growing demand for infrastructure, clean energy and advanced manufacturing, the EDC-VinaCapital partnership is poised to help connect Canadian capabilities with Vietnamese opportunities.
“I am proud to support the strengthening of commercial ties between Canada and Vietnam to help build new partnerships between Canadian and Vietnamese companies,” Canadian Minister of International Trade Maninder Sidhu said in the press release.
“Vietnam’s rapid economic growth in the Indo-Pacific region positions the country as a promising hub for Canadian businesses,” he added.
“As Canada’s largest trading partner in ASEAN and a key member of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Vietnam offers favourable prospects for our exporters and investors.
“The new MoU between EDC and VinaCapital will further deepen our bilateral relations and help Canadian companies succeed in this important market.”
Since the inception of the CPTPP, bilateral trade between Canada and Vietnam has increased from CA$6.5 billion in 2018 to $15.7 billion in 2024. (US$1 = CA$1.38)
“Vietnam is a dynamic and rapidly evolving market, and this partnership with VinaCapital will help Canadian companies tap into its vast potential,” President and CEO of EDC Alison Nankivell said.
“VinaCapital’s deep market knowledge, sector expertise and strong local connections make the organization a strategic partner for EDC,” she commented.
“Together, we can help Canadian businesses navigate the Vietnamese market with greater confidence and foster mutually beneficial trade between our two nations.”
According to Don Lam, CEO and Founding Partner of VinaCapital, this MoU reflects VinaCapital’s commitment to work with EDC to build a stronger, more strategic trade relationship between two countries.
“We look forward to working closely with EDC to support Canadian companies and contribute to Vietnam’s continued growth,” he stated at the signing ceremony.
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