PM introduces investment opportunities to Canadian firms
Updated : Saturday, June 09, 2018 3:17 PM (GMT+0700)

PrimeMinister Nguyen Xuan Phuc introduced to Canadian businesses the dynamicVietnamese economy with improved investment and business environment and abundantopportunities for foreign investors while addressing the Vietnam-Canadabusiness forum in Quebec on June 8 (Canada time) as part of his ongoing visitto Canada. 

Prime Minister Nguyen Xuan Phuc speaks at the Vietnam-Canada business forum in
Quebec on June 8 (Canada time) - Photo: VNA

Vietnam has recorded higheconomic growth, with import-export revenue reaching 425 billion USD, foreigninvestment hitting 37 billion USD in 2017, he noted. 

The Vietnamese leader saidthat foreign investors in Vietnam have satisfied with the investment efficiencyin the country, especially the opening of the economy with the engagement invarious free trade agreements. 

In March this year, Vietnamand Canada signed and are undertaking procedures for the ratification of theComprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).Under the deal, Vietnam commits to removing nearly 100 percent of taxes, whichmeans many Canadian goods will enjoy tax reduction and exemption inVietnam. 

The PM added that Vietnam isrestructuring State-owned enterprises, including those in important areas suchas aviation, power, oil and gas, telecommunications, and transportinfrastructure. This is a good opportunity for foreign investors, includingthose from Canada and Quebec city to buy shares and become strategicshareholders. 

He cited a multinationalsolar power plant with a capacity of 168 MW and an investment of 150 millionUSD that has been launched recently in Ninh Thuan province as an example ofpotential for cooperation between Vietnam and Canada. 

He affirmed that Vietnamconsiders Canada as an important partner in the American continent, holdingthat the two economies can suplement each other without competition.Particularly, Vietnam has a strong agriculture sector and many industrialproducts, he said. 

He said that the currenttrade revenue between the two countries at 6 billion USD and Canada'sinvestment of 3.5 billion USD have yet to show the capacity of Canadianinvestors in Vietnam. He stressed that the two sides should work hardertogether to improve the figures in the coming time. 

At the forum, PM Phuc alsodirectly answered questions of Canadian investors. 

He underscored that Vietnamalways highly values foreign investment, and has protected the interest offoreign investors. 

Vietnam is calling for morequality investment, especially in high added value products in global chainsand environmentally -friendly ones, focusing on areas of infrastructure,renewable energy and high-tech agriculture. 

The PM said that Vietnam hasa golden population with 60 percent of labor force being young labourers. Eachyear, the country exports a large number of labourers trained in foreignlanguages. As a member of the Francophone, along with English, Vietnam hasstrengthened French language teaching with an aim to create high quality humanresources serving socio-economic development in the future, he stated. 

At the event, Quebec MayorRegis Labeaume highlighted strenths of the city in electronics, energy,environment, materials, financial services, science and startup. 

Meanwhile, Vice Governor ofCanada's central bank Vincent Joli-Coeur spoke highly of reform of Vietnam overthe past 30 years, while giving optimistic comments on the economic outlook andinvestment opportunities in Vietnam. 

He said that among countriesthat the bank has presented in, Vietnam ranks first in terms of the opening forforeign investors, adding that Vietnam has met criteria in both infrastructureand business ethics.


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