Cong Thanh Bui (James)
Managing Partner
Lan Nguyen (Megan)
Head of Legal Business Consulting
On June 26, 2024, Mr. Bui Cong Thanh, Managing Partner at PLF Law Firm, participated in the ceremony marking Canada Day (July 1, 1867- 2024). The ceremony is co-organized by the Consul General of Canada in Ho Chi Minh City and the Canadian Chamber of Commerce in Vietnam. This ceremony was remarkable for Vietnam and Canada’s diplomatic ties between two countries, and it continually strengthened. In fact, the event showcased the enduring bilateral ties between Vietnam and Canada. Moreover, it underscored the potential opportunities for foreign investment and cooperative ventures between Ho Chi Minh City and Canadian partners.
Speaking at the ceremony, Consul General of Canada, Annie Dube highlighted the recent celebration of the 50th founding anniversary of diplomatic ties between Canada and Vietnam. Subsequently, she announced a substantial investment of 2.3 billion USD over the next five years to implement Canada’s Indo-Pacific Strategy. This strategic move is a clear testament to Vietnam’s pivotal role as a key partner. Consequently, it opens up promising new avenues for foreign investment to flow into the country.
Key Points of the Partnership:
- Notably, Canada currently holds Vietnam’s second-largest partner in the Americas. Additionally, Canada ranks sixth among Vietnam’s top trading partners within the forty countries and economies comprising the Indian Ocean-Pacific region.
- Furthermore, in terms of foreign investment, Canada stands as the 22nd largest investor in Ho Chi Minh City (out of 117 countries and territories investing in the city) with 119 projects worth nearly $130 million USD.
- Moreover, in 2023, two-way trade between Ho Chi Minh City and Canada reached an impressive of 520 million USD.
The event’s implications and PLF Law Firm’s perspective
The Canada Day celebration is a vibrant symbol of a strong bond between Vietnam and Canada. This relation paves the way for a brighter future, characterized by economic growth, cultural exchange, and a foundation of mutual respect and shared achievements. Indeed, this positive outlook fosters a favorable environment for foreign investment, making Vietnam as an attractive business destination for Canadian businesses.
PLF Law Firm is a preeminent foreign investment law firm specializing in the Vietnamese market. Our firm’s team of legal experts possesses a strategic advantage, enabling us to provide expert guidance on a wide range of foreign investment-related matters. Our expert guidance empowers clients to achieve remarkable success in navigating Vietnam’s complex business environment.
PLF Law Firm stands out for providing top-tier legal, financial, and accounting solutions for foreign investors and business owners. Our services are designed to establish a robust business foundation while effectively minimize legal risks. To learn more and unlock the potential of your investment, contact us today for a Free Initial 30-minute Consultation. Reach out to our team via email at inquiry@plf.vn or +84913 902 906 or Zalo | Viber | WhatsApp.
References:
The article is based on laws applicable at the time noted as above and may no longer be appropriate at the time the reader approaches this article as the applicable laws and the specific cases that the reader may wish to apply may have changed. Therefore, the article is for referencing only.
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