Vietnamese localities enhance ties with Canadian investors

Monday, 2017-01-16 06:18:13
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Vietnamese localities enhance ties with Canadian investors(Photo:VNA)
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NDO/VNA—A conference on enhancing partnerships between Vietnamese localities and Canada took place in Hanoi on January 16, gathering 200 government officials, business delegates and representatives of Canadian non-governmental organisations.

The event was meant to create an opportunity for Vietnamese localities to connect with the Canadian side and form partnerships, particularly in the three prioritised sectors of trade and investment, development cooperation and education.

At the conference, representatives of Vietnamese localities also informed Canadian non-governmental organisations about their needs for development funding to alleviate poverty and boost education.

Most participants agreed that current cooperation between Vietnam and Canada still felt short of its potential. They called on local governments to play a more active role in attracting and facilitating investment and assistance from the North American country.

Deputy Foreign Minister Ha Kim Ngoc affirmed that Vietnam places stress on strengthening its relations with Canada, adding that trade is a highlight in bilateral ties.

Vietnam is Canada’s biggest trade partner in the ASEAN region, with two-way revenues reaching US$ 4.6 billion in 2015 and US$ 3.4 billion in the first 9 months of 2016. The two nations planned to push the figure to US$10 billion in the next ten years.

Canada has so far funnelled US$ 5.28 billion to 149 projects in Vietnam, ranking 14th out of 112 countries and territories investing in Vietnam.

Canadian Ambassador to Vietnam Ping Kitnikone recommended that Vietnamese localities create favourable conditions for Canadian investors in terms of mechanisms, policies and human resources.

The dynamism and active role of local governments are a decisive factor in the attraction of investment, he said.

Chairman of the Hanoi People’s Committee Nguyen Duc Chung vowed to create the best possible conditions in which for Canadian and overseas Vietnamese to invest in the city in the long term.

Canada has 23 projects, worth US$ 7.7 million, in the capital city.