Toronto hosts Vietnam Business Forum

Speaking at the event, Vietnam Ambassador To Anh Dung highlighted the primary reasons he believes Canadian businesses should cooperate with their Vietnamese counterparts.

First of all, the two countries have established long-lasting ties over the past 42 years since diplomatic relations were first established, sharing many common values of peace, friendship and cooperation, Ambassador Dung said.

Secondly, Vietnam is an emerging market, with the enormous economic potential— it has a consumer market of nearly 90 million strong, young knowledgeable highly skilled workforce along with an attractive business climate.

The government goes out of its way to implement favourable policies and regulations in the areas of taxation, land and employment specifically aimed at accommodating foreign businesses.

Dung added that the government is politically stable, committed to an open- door policy and maintains trade relations with more than 200 countries and as a result has sustained economic growth of 5-7% annually for the past several years.

Lastly, Vietnam is a bridge for Canadian businesses to enter the Asia-Pacific regional markets and fully supports the continued participation and contribution of Canada in the Asia-Pacific and South-East Asian regions.

Toronto City Council Member Michael Thompson in turn said Canadians consider Vietnam a high priority international market with similar fields of interests and business skills.

In addition, Council Member Thompson noted Toronto is currentlyhome to roughly 35,000 Overseas Vietnamese (OVs) and established sister relations with Ho Chi Minh City in 2006.