Country Information Export Development Canada Asia and Pacific

Vietnam

Vietnam’s story is one of growth, embarking on a state-controlled free-market reformation that brings opportunities for several Canadian sectors.

Evaluating the market in Vietnam

We can help you get a better understanding of market activity, relationships and support to grow your business.

EDC Position

EDC Country Position - Open

Open

What this means:

  • Actively pursuing business
  • All EDC solutions are available in this market, subject to regular approval criteria
How does EDC determine the position?

Risk Rating

EDC Country Position – Medium to High Risk

Medium to High Risk

What this means:

The Commercial Country Ceiling (CCC) Risk Rating is measured from low to high, and is meant to represent the best possible rating that can be assigned to a commercial business (obligor) in a country.

How does EDC determine the risk rating?

Business environment in Vietnam

Exports and FDI inflows have helped Vietnam exceed growth expectations in recent years; and growth is expected to remain in the six per cent range in 2018. With privatization of state-owned enterprises (SOEs) gaining traction, the investment climate may experience another boost. Although macroeconomic factors and Vietnam’s dependence on SOEs can pose challenges for potential foreign investors, the Vietnamese economy provides ample opportunities for Canadian companies in several sectors due to favorable demographics and a growing middle class. Prior to entering the market, companies should be prepared to invest the necessary time and resources needed to develop strong, on-the-ground relationships. It is advised that Canadian exporters appoint a local representative to act as an importer/distributor for direct exports.
  • Aerospace
  • Construction & Infrastructure
  • Consumer Goods
  • Oil and Gas

Here’s a helpful tip for doing business in Vietnam

Building strong relationships are essential to doing business in Vietnam, and the initial meeting should be solely used as a "getting to know you" opportunity.

Download our guide on Doing Business in Vietnam.

International Trade Solutions

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As requested, and EDC Trade Advisor will contact you on between . We look forward to speaking with you soon!

If you would like to speak with someone immediately, please call  1-888-220-0047.

 

Interested in growing your business in this market?

Speak to a Trade Advisor weekdays between 9 am to 5 pm EST.

1-888-220-0047

Or send us a question and we'll get back to you as soon as possible. Send a question

Alicia McCarthy

Senior Trade Advisor, EDC

Alicia McCarthy  Senior Trade Advisor, EDC