Trade with Canada flourishes
Bilateral trade between Viet Nam and Canada is expected to exceed 1 billion USD by the end of this year due to major commitments from Canadian companies in Viet Nam.
Matt Fraser, Senior Trade Commissioner at the Embassy of Canada to Viet Nam, said the year 2007 saw Viet Nam-Canada bilateral trade ties flourish. Many major companies have taken significant steps to establish their presence in the Vietnamese market.
The leading Canadian-based Financial Services Company (Manulife) is a typical example, having opened a 10-million USD office in HCM City.
Bombardier Aerospae conducted a demonstration tour of its CRJ900 NextGen aircraft in Viet Nam, Frazer said.
He also revealed that Talisman, Canada’s largest independent oil producer, sent a delegation to study opportunities to invest in the Vietnamese petroleum industry.
In past years, Canadian companies were hesitant to invest in Viet Nam, fearing it was too risky, Fraser said.
“Canadian companies are often very cautions about making any investment decisions,” he said. “They always make thorough studies on markets that they are planning to penetrate into to make sure that their investments would be protected by level competition and legal transparent systems.”
However, many Canadian businesses have changed their views of the Vietnamese market after seeing major Canadian companies come and stay.
To help Canadian companies understand the Vietnamese market, he said, the Canadian Embassy has set up a network responsible for keeping in close touch with Vietnamese localities.
“This has enable Canadian enterprises to obtain information on the Vietnamese market or seek opportunities to invest,” Fraser said. (VNA, Quan doi Nhan dan)
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