Vietnam-Canada Business Forum Held in Ottawa, Strengthening Economic Ties

As part of his state visit to Canada, Vietnamese President To Lam attended a high-level Vietnam-Canada business forum in Ottawa on the morning of September 25 (local time). The forum was jointly organized by the Vietnamese Ministry of Finance and Global Affairs Canada. The meeting aimed to deepen economic cooperation and expand investment opportunities between the two countries, providing a valuable opportunity for the Vietnamese President to engage directly with the Canadian business community. In recent years, Vietnam, under its one-party system, has pursued economic reforms (Doi Moi policy), achieving remarkable economic growth. Its export-driven growth model has particularly enhanced Vietnam's importance in global supply chains. However, this growth also entails economic dependence on China, presenting a challenge for geopolitical risk management. Strengthening economic ties with Canada could be a crucial strategy for diversifying its economy and mitigating such risks. During the forum, specific exchanges of views were reportedly held on improving trade and investment environments between the two nations, promoting sustainable economic cooperation, and creating new business opportunities. The Vietnamese government is actively attracting foreign investment, with particular interest in infrastructure, renewable energy, and technology sectors. President To Lam's visit to Canada also aims to strengthen political and diplomatic relations with Canada, with economic dialogue forming a significant part of this engagement. Vietnam and Canada are dialogue partners within ASEAN and Canada, cooperating in multilateral forums as well. Source: Nhan Dan