On March 28, 2024, representatives of the Canadian Chamber of Commerce Vietnam along with its members joined a Guided Discussion with the esteemed participants of the Team Canada Trade Mission as part of the Team Canada Trade Mission to Vietnam. The session served as a platform to promote growth in Canada-Vietnam trade and facilitate collaborative dialogue on key strategic initiatives.
The primary objectives of the Guided Discussion were as follows:
Promoting Growth in Canada-Vietnam Trade: The session aimed to explore avenues for enhancing trade and investment between Canada and Vietnam, aligning with both nations' economic growth objectives.
Facilitating Collaborative Discussion: Participants engaged in a collaborative dialogue with the Minister on various crucial topics, including Canada's Indo-Pacific Strategy, CanCham's role in advancing Canadian business interests in Vietnam, and the opportunities and challenges in increasing trade and investment between the two countries.
Sharing Best Practices and Insights: Canadian business leaders in Vietnam shared valuable insights and best practices, providing actionable strategies for navigating the Vietnamese market successfully.
Direct Interaction for Vietnamese Stakeholders: Vietnamese stakeholders had the unique opportunity to interact directly with Canadian representatives, fostering stronger bilateral relationships and paving the way for future collaboration.
The Guided Discussion featured speakers from CanCham's Membership, focused on the 3 main topics:
"The current investment & business climate for Canadian businesses in Vietnam" with guest speakers:
Ms. Sarah Galeski - Counsel, Tilleke & Gibbins started off the panel with her legal expertise and comments on the Vietnam's workforce as well as the market and its policies
" Canadian companies looking to expand into Vietnam need to do market research and liaise with potential customers in Vietnam
Vietnam's workforce offers a lot of advantages and they can help Canadian businesses expand their customer base but businesses should educate themselves beforehand, starting with proper policies and follow the mandated legal status to manage their staff"
Sharing insights on the Manufacturing sector, Ms. Elizabeth Nguyen - General Director, St.Johns Packaging stated:
" For the manufacturing sector, if businesses looking to sell things domestically it will be a challenge because the market is very fragmented. "
Lastly, Mr. Mukesh Sareen - Vice President, ANVO Pharma Group addressed the two major concerns for business coming to Vietnam:
" The reasons for investment and the safety: there are approximately 250+ projects ongoing in Vietnam from the Canadian communities with good results
The pharmaceutical sector is left behind compared to other sectors, very few pharmaceutical manufacturing facilities enter Vietnam "
"Predictions on Vietnam's Economy and How It Impacts Canada's Prospects in Vietnam" featuring:
Starting off, Ms. Winnie Lam - COO, Avison Young Vietnam shared her expert opinion on the dos and don'ts for companies looking to expand to Vietnam
" Companies will probably come into Vietnam with previous experience in aviation and they can start by take it with a grain of salt to start with. But if companies are looking to expand in this side of the world, Vietnam is a very good choice "
Followed by Mr. Luc Nhon Ly - CEO, Sun Life insight and overview on Finance and FDI outlook:
" Finance industry: looking at the projection, the FDI is coming back this year and GDP growth looks like it's going to be a strong year "
"What Concrete Initiatives could further solidify Canada's Position as a Key Partner for Vietnam?" with guest speakers:
Starting off the panel discussion, Ms. Truc Doan - Country Representative, CN listed out the three important aspects in which businesses should continue to position Canada as the strategic gateway such as: in terms of logistics, of productivity, and the advantages of the core industry.
Ms. Lan Nguyen - Head of Business Development, FPT Software AI Center shared
"Vietnam still has a lot of high-tech labor, especially in IT. There is a lot of demand and a lot of potential collaboration between Vietnamese and Canadian companies in those areas, applying AI and solving many of the critical issues"
Wrapping up the panel, Mr. Manual Brousse - General Manager, lululemon shared a case study on lululemon and its vision as well as goal in Vietnam.