HCM CITY — Export Development Canada (EDC), Canada’s export credit agency, and VinaCapital, one of Việt Nam’s leading investment management firms, on Thursday signed a Memorandum of Understanding (MOU) to enhance trade and investment between the two countries.

The agreement aims to create new opportunities for Canadian exporters and investors in key sectors, including infrastructure, energy, retail, healthcare and financial services - areas where Canadian expertise aligns with Việt Nam’s development priorities.

Under the MOU, EDC and VinaCapital will collaborate to support Canadian companies seeking to enter or expand their presence in Việt Nam.

Since the inception of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), bilateral trade between the two countries has increased from CAD$6.5 billion (US$4.7 billion) in 2018 to CAD$15.7 billion (US$11.36 billion) in 2024. 

With Việt Nam’s growing demand for infrastructure, clean energy and advanced manufacturing, the partnership is poised to help connect Canadian capabilities with Vietnamese opportunities.

Launched last year, EDC’s representation in HCM City has been a valuable resource for Canadian companies and investors seeking to grow into the Vietnamese market and broader Indo-Pacific region.

“I am proud to support the strengthening of commercial ties between Canada and Việt Nam to help build new partnerships between Canadian and Vietnamese companies. Việt Nam’s rapid economic growth in the Indo-Pacific region positions the country as a promising hub for Canadian businesses," said Canadian Minister of International Trade Maninder Sidhu.

"As Canada’s largest trading partner in ASEAN and a key member of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Việt Nam offers favourable prospects for our exporters and investors. The new MOU between EDC and VinaCapital will further deepen our bilateral relations and help Canadian companies succeed in this important market,” Sidhu said. —VNS