Canada urged to diversify investment areas in Vietnam

Friday, 2019-04-05 14:02:45
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Deputy PM and FM Pham Binh Minh (right) and and newly appointed Canadian Ambassador to Vietnam, Deborah Anne Paul. (Photo: VGP)
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NDO – Deputy Prime Minister and Foreign Minister Pham Binh Minh has asked Canada to diversify its investment areas in Vietnam, as more than 90% of its investment capital flow currently focuses on the field of real estate.

Politburo member Minh made the call while hosting a reception for newly appointed Canadian Ambassador to Vietnam, Deborah Anne Paul, in Hanoi on April 4.

He congratulated Anne Paul on her appointment and voiced his belief that with her abundant experience, the diplomat will contribute to further deepening relations between the two countries on both bilateral and multilateral aspects.

The deputy PM stated that Vietnam-Canada ties are growing finely across all spheres, especially since the two countries established a comprehensive partnership in November 2017, on the occasion of Canadian PM Justin Trudeau’s official visit to Vietnam to attend at the APEC Economic Leaders’ Meeting.

Speaking highly of the outlook of bilateral relations, he suggested that the two sides strengthen the exchange of high-level delegations and work towards higher two-way trade revenues in 2019 on the basis that both are members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which is already in effect, and that Vietnam is currently the largest trading partner of Canada in the ASEAN bloc.

Deputy PM Minh voiced his thanks and wish that Canada will continue providing official development assistance for Vietnam, contributing to promoting sustainable development, especially in social areas.

For her part, Ambassador Deborah Anne Paul expressed her impression and highly appreciated Vietnam’s development achievements as well as the country’s role and position in regional and international arenas.

Canada particularly speaks highly of Vietnam’s responsibilities in international issues, she said, pledging to continue supporting Vietnam’s bid to become a nonpermanent member of the United Nations Security Council for the 2020-2021 tenure.

The diplomat thanked Vietnam for successfully taking over the role as coordinator for ASEAN-Canada relations, contributing to accelerating ties between the two sides. She also affirmed Canada’s support for Vietnam in its assuming the ASEAN Chairmanship 2020.