Export Development Canada, VinaCapital sign MoU to expand trade ties
Export Development Canada (EDC), Canada’s export credit agency, and VinaCapital, one of Vietnam’s leading investment management firms, have signed a Memorandum of Understanding (MoU) to enhance trade and investment between the two countries.
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.
Since the inception of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), bilateral trade between the two countries has increased from CAD6.5 billion (US$4.7 billion) in 2018 to CAD15.7 billion (US$11.36 billion) in 2024.
With Vietnam’s growing demand for infrastructure, clean energy and advanced manufacturing, the partnership is poised to help connect Canadian capabilities with Vietnamese opportunities.
Launched last year, EDC’s representation in Ho Chi Minh City has been a valuable resource for Canadian companies and investors seeking to grow into the Vietnamese market and broader Indo-Pacific region.
“I am proud to support the strengthening of commercial ties between Canada and Vietnam to help build new partnerships between Canadian and Vietnamese companies. Vietnam’s rapid economic growth in the Indo-Pacific region positions the country as a promising hub for Canadian businesses," said Canadian Minister of International Trade Maninder Sidhu.
"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,” Sidhu said.
Model helps boost Vietnamese exports to Canada
Despite North America’s ongoing supply chain disruptions and a decline in Canada’s imports from major partners amid trade tensions with the US, Vietnam’s exports to Canada continued to grow strongly in the first quarter (Q1) of 2025, reaching nearly US$2 billion up over 13% year-on-year.
