HCM City looks to attract more Canadian investment

Ho Chi Minh City’s authorities will create favourable conditions for foreign investors, including those from Canada, to invest and do business in the city, according to Vice Chairman of the municipal People’s Committee Le Thanh Liem.

The official made the affirmation at a reception for visiting Chairman of Canada Trade Link Bryon Wilfert in the city on March 27, during which he expressed the hope that it will welcome a new wave of investment from Canadian enterprises in the near future.

He highlighted the fruitful development of the Vietnam-Canada relations in recent times, saying that the relationship is in the most productive period of their 45-year diplomatic ties, with the two countries conducting many exchanges of high-ranking delegations and upgrading their bilateral ties to the level of comprehensive partnership in November 2017.

He spoke highly of the visit of the Canada Trade Link representative to Vietnam and the city, saying that this shows the Canadian government and business community’s active interest in promoting cooperation between the two countries.

Liem noted Canada’s proposals on cooperation between Canadian localities and Ho Chi Minh City, expressing his belief that with willingness and efforts on both sides, especially the role of Canada Trade Link in business connection, the cooperation will develop strongly, positively contributing to promoting the Vietnam-Canada comprehensive partnership.

While expressing his impressions of Vietnam during his working visit, Wilfert stressed that on the basis of the sound relations between the two countries, the economic, trade, and investment cooperation between the two sides has many opportunities and much potential for stronger development.

The visit aims to promote trade and investment cooperation between the two countries in the context of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) taking effect.

Wilfert said Canadian businesses are impressed by the dynamic development of Ho Chi Minh City and that they want to do long-term business and investment activities in the southern hub, especially in fields with such potential as education-training, high technology, and waste treatment.

By the end of 2018, Canada had 80 investment projects worth 118 million USD in the city. There are some 22,000 Vietnamese students pursuing their studies in Canada.

Source: ven.vn

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