17:27 (GMT +7) - Tuesday 12/12/2017

Business

Vietnamese & Ontario businesses sign $25mn in deals

Released at: 16:38, 05/12/2017

Vietnamese & Ontario businesses sign $25mn in deals

Photo: Khanh Chi (VET)

Fourteen agreements signed on December 4 in HCMC in sectors such as agriculture, real estate, and education.

by Hong Nhung

Ms. Kathleen Wynne, Premier of Ontario, Canada, announced at a signing ceremony in Ho Chi Minh City on December 4 that 14 agreements between Vietnamese and Ontario organizations, worth almost $25 million, were being signed.

“Building cooperation relationships with fast-growing markets like Vietnam is critical to the success of the Ontario economy,” Ms. Wynne told the ceremony. “Being the first Premier of Ontario to visit Vietnam, I am very much looking forward to building new relationships and finding opportunities for cooperation in the fields of business, commerce, and education.”

The Costcovn Import Export Co. Ltd. signed an agreement with Ontario’s Ownace International Group Inc. to sell and distribute Canadian-grown specialty grains and other food products in Vietnam.

Truong Son Bio Ltd. entered into a $2-million agreement with Ontario’s Nurture Growth Bio Fertilizer Inc. to provide the rights to use the Nurture Growth Bio Fertilizer’s Trademark. Nurture Growth will also license agri-technology machinery used in the making of bio-organic fertilizer in Vietnam. 

Coteccons signed an MoU with Ontario’s B+H Architects to collaborate on design-build projects throughout Vietnam. In addition, Tri Duc Group also signed an agreement with Ontario’s B+H Architects for the design of the Hilton Ha Long Project. B+H will provide the architectural design for the project, and their hospitality group, CHIL Interior Design, will design the interiors for the hotel and condotels.

Nearly 60 delegates from Ontario in a wide range of sectors were at the signing, from the province’s thriving agri-food sector, whose exports to Asia totaled almost $2 billion in 2016, world-class research institutions, where more than 1,200 Vietnamese students are currently studying, and Ontario’s local governments and innovative business and tech community.

“Ontario is committed to working with Vietnam to help our educational institutions share information and work together,” said Ms. Wynne. “New partnerships could take the form of joint research projects, training programs, MoU signings and academic exchanges. I also spent time meeting with business leaders in Ontario, and discussed the opportunities they saw for partnerships here in Vietnam.”

“They talked about the rapid growth of Vietnam’s manufacturing industry, and how that is creating demand for new machinery and equipment,” she went on. “We also discussed how Vietnam’s emerging middle class means there’s an appetite for new, high-quality consumer goods. And as Vietnam continues on this growth trajectory, I understand there has been a real drive to invest in infrastructure updates and develop clean energy solutions.”

Ontario now has Canada’s fastest-growing environmental and clean-tech sector. Adapting to climate change is of critical importance, both in Ontario and in Vietnam. And as Vietnam rises to meet its growing demand for electricity and clean water, Ontario can offer the tools and expertise to help.

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