Canada - the gateway for Vietnamese businesses to access the North American market and increase market share
Canada is currently a potential export market and also a gateway market to access the North American market. Besides the advantages, the Canadian market also has challenges for export businesses.
Opportunities and challenges of Binh Dinh
Information at the Trade Promotion Conference with the Vietnam - Canada Businessmen's Association (VCBA) organized by the People's Committee of Binh Dinh province in coordination with VCBA in the city. Quy Nhon on March 28, Mr. Ngo Van Tong, Director of the Department of Industry and Trade of Binh Dinh province, said that in the Canadian market, since the Trans-Pacific Partnership Agreement (CPTPP Agreement) took effect, export turnover The province's export to Canada has increased fourfold, from 3 million USD in 4 to over 4,1 million USD in 2018 (17,2 million USD in 2023 alone).
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| Scene of the Trade Promotion Conference with the Vietnam - Canada Businessmen's Association. |
Binh Dinh's main export goods to the Canadian market are mainly seafood, refined wood for interior and exterior, garment products, and plastic products. In 2023, among the key products of Binh Dinh province to the Canadian market, seafood products will achieve the highest export turnover value of nearly 5,0 million USD; garment products 4,6 million USD; Refined wood products reached 4,6 million USD; products from rattan imitation plastic reached 2,5 million USD.
According to Mr. Tong, along with the huge opportunities for the province's key export products to expand exports to the Canadian market (based on the potential and foundation that has been exploiting the CPTPP Agreement well), the local also encountered challenges.
In addition to the challenges of requirements for sustainable development standards, competition between countries exporting goods and products is becoming increasingly fierce, geographical distance and high costs of promoting and penetrating the market, High transportation and logistics costs also make it difficult for Binh Dinh province's export prices to compete with neighboring countries in the Americas.
In addition, for agricultural products, businesses in Binh Dinh province have small production scales, so they face many difficulties in improving quality and enhancing competitiveness in a synchronous way.
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| Mr. Pham Anh Tuan, Chairman of Binh Dinh Provincial People's Committee spoke at the conference. |
Speaking at the conference, Mr. Pham Anh Tuan, Chairman of Binh Dinh Provincial People's Committee, wanted to work with VCBA to open a market for local products that can be exported to Canada and North America, first considering wood products. , seafood (shrimp, tuna...), deeply processed agricultural products...
At the same time, the province continues to focus on inviting Canadian investors to invest in five main pillars, including industry; tourism; High-tech agriculture; port and logistics services; Urban economy is associated with the urbanization process.
The Chairman of Binh Dinh province asked VCBA to act as a bridge to bring Canadian businesses and investors to Binh Dinh, Vietnam to reap success together.
Identify the Canadian market
Mr. Dan On, Chairman of VCBA, said that currently Canada buys a lot of goods from Vietnam with 10 billion USD and the Canadian Government is currently focusing on small businesses, which are the focus of the economy. economy of this country and only pay 17% tax.
VCBA Chairman informed that Canada currently has a delegation of 100 businesses coming to Vietnam, working in the city. Hanoi and City. Ho Chi Minh and he will collect documents related to these businesses.
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| Mr. Dan On, Chairman of the Vietnam - Canada Businessmen's Association, said he is ready to support connecting businesses of the two countries and two localities. |
He also said that he is ready to support Canadian businesses to invest in Vietnam and vice versa to support Vietnamese businesses to export food and seafood products to the Canadian market...
For more information about the connection between the two countries and two localities (Binh Dinh province and Vancouver state), Mr. Nguyen Hoai Bac, member of the VCBA Executive Committee proposed that agricultural, forestry and fishery product processing enterprises in Binh Dinh could connect. Connected with Mr. Chau Cuong is a large business, owner of the 2 Supermarkets chain in Vancouver. These supermarkets have the ability to support Vietnamese businesses exporting agricultural and aquatic goods and other products to the Canadian and US markets.
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| Becamex Binh Dinh Joint Stock Company and Dan On Food Joint Stock Company signed a memorandum of investment for the Agricultural Product Processing Factory Project |
Talking about investment opportunities in Canada, Mr. Nguyen Quang Trung, Former Consul General of Vietnam in Vancouver, Canada, informed that both countries (Vietnam and Canada) are currently members of the CPTPP Agreement, which is beneficial. for both. When coming from Vietnam, Made in Vietnam goods will enter the Canadian market more smoothly; At the same time, from Canada, because it is also a member of CPTPP, this country's goods will enjoy favorable import taxes from Vietnam.
Currently, Canada has sent a Canadian Trade Mission (Team Canada Trade Mission) led by Ms. Mary Ng, Minister of Export Promotion, International Trade and Economic Development to learn about business and investment opportunities. private in Vietnam, working 3 consecutive days in City. Ho Chi Minh City and brought with it 100 Canadian businesses.
This delegation will focus on key areas with great opportunities for cooperation with Vietnam such as agriculture, processed food, clean energy, clean technology, information and communication technology, and other industries. Creative arts, aviation…
And recently, the British Columbia (BC) provincial government, Sakeschewan, opened a Trade and Investment Office in the city. Ho Chi Minh City and the British Columbia Forestry Innovation Investment Office in Binh Duong province...
Mr. Trung said that this trend is very suitable for Binh Dinh's promotion and calling for investment plan when the locality has many favorable infrastructure conditions.
At the conference, Becamex Binh Dinh Joint Stock Company and Dan On Food Joint Stock Company signed a memorandum of investment for the Agricultural Product Processing Factory Project at Becamex Binh Dinh Industrial Park with an area of 4 hectares, total investment capital Invest 10 million USD.
