Collaboration formed between EDC and VinaCapital to enhance mutual collaboration efforts
Canada and Vietnam are celebrating seven years of comprehensive partnership, with diplomatic and economic ties between the two nations flourishing. In a significant move to further boost this relationship, Export Development Canada (EDC) and VinaCapital, a leading investment management firm in Vietnam, have signed a Memorandum of Understanding (MoU) to strengthen economic ties.
The collaboration between EDC and VinaCapital aims to support Canadian companies seeking to enter or expand their presence in Vietnam. This partnership is positioned to connect Canadian capabilities with opportunities in Vietnam's growing sectors such as infrastructure, clean energy, and advanced manufacturing.
Canadian exporters can benefit from this partnership by gaining enhanced support to enter or expand in Vietnam’s priority sectors such as infrastructure, energy, retail, healthcare, and financial services. The partnership provides Canadian companies access to VinaCapital’s extensive local networks, sector expertise, and investment knowledge, thereby facilitating connections with high-growth Vietnamese opportunities aligned with Vietnam’s development priorities.
Specifically, the partnership enables tailored support and guidance for Canadian exporters and investors adapting to the Vietnamese market. Leveraging VinaCapital’s multidisciplinary investment management expertise, Canadian companies can tap into the vast potential of Vietnam's market. The partnership aligns with Vietnam’s growing demand in key sectors, such as infrastructure and clean energy, where Canadian innovation and expertise are competitive.
The partnership also assists in navigating financial risks and expanding trade ties within the framework of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). Under this agreement, bilateral trade between Canada and Vietnam has surged from CAD 6.5 billion in 2018 to CAD 15.7 billion in 2024.
Moreover, the partnership promotes responsible business practices by sharing environmental, social, and governance (ESG) standards, helping Canadian companies align with sustainability expectations in Vietnam.
Alison Nankivell, president and CEO of EDC, stated that Vietnam is a dynamic and rapidly evolving market, and the partnership with VinaCapital will help Canadian companies tap into its vast potential. VinaCapital, established in 2003, is Vietnam's only multidisciplinary investment manager with nearly $4 billion in assets under management and approximately 300 employees across the country.
The deal allows EDC and VinaCapital to outline a framework for collaboration, with the shared goal of advancing trade and investment between Canada and Vietnam in key sectors. VinaCapital's investment teams cover public equity and fixed income, private equity, clean energy and infrastructure, carbon credit, real estate, and venture capital.
The future of this vibrant cooperation was also discussed by Canadian Ambassador to Vietnam, Shawn Perry Steil. Other significant developments include VPBank securing a $350 million loan facility from Sumitomo Mitsui Banking Corporation (SMBC), partner development finance institutions (DFIs), and bilateral agencies. Additionally, FinDev Canada, JICA, and SMBC pledged $215 million to HDBank in a syndicated loan facility.
In conclusion, the partnership between EDC and VinaCapital is set to provide Canadian exporters with improved market entry strategies, enhanced local partnerships, and stronger bilateral trade facilitation, boosting their capacity to capitalize on Vietnam’s economic growth and sectoral priorities.
The partnership between EDC and VinaCapital focuses on investing in growing sectors such as infrastructure, clean energy, and advanced manufacturing in Vietnam, aiming to provide Canadian companies with a competitive edge. This collaboration offers tailored support and guidance for Canadian exporters and investors, allowing them to navigate financial risks and expand trade ties within the framework of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
