Unlocking Trade Opportunities: Start-ups Embrace Vietnam
Canadian businesses tap into the web-centric consumer base
Looking beyond the horizons, start-ups from Nova Scotia, Canada's bustling East Coast, are sniffing out new opportunities in Vietnam, a rapidly growing market in Southeast Asia. Here's a lowdown on the enticing trade route they're embarking upon:
Seizing the Free Trade Agreement Advantage
- CPTPP's Perks: The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is a game-changer. It offers Canadian start-ups competitive edge by:
- Tariff Cuts: Reduced tariffs on various Vietnamese agricultural and food products, priming them for Canadian markets.
- Streamlined Customs: Simplified customs procedures to facilitate the entry of Vietnamese goods in Canada.
- Supply Chain Integration: Encouraging direct trade between Canadian firms and their Vietnamese counterparts.
- Standards Harmonization: Promoting alignment in food safety and environmental standards.
- Expanding Vietnamese FTAs: Vietnam's FTAs with EU, Japan, South Korea, and others bolster export opportunities even further.
Vietnam: The Asian Logistics Hub in the Making
A strategic location, infrastructure development, and economic growth make Vietnam an alluring choice for start-ups seeking to establish a Southeast Asian footing:
- Logistical Advantage: Vietnam's geographical positioning provides efficient trade connectivity.
- Infrastructure Expansion: Continual efforts to upgrade logistics infrastructure position Vietnam as an ideal trade hub for the region.
- Market Prosperity: Robust economic growth and a skilled workforce present inviting conditions for investments.
Seizing the Opportunities Knocking
- Market Diversification: Escalating trade tensions create opportunities for start-ups to delve directly into the Canadian market, minimizing dependence on intermediaries.
- Technological Services: Increasing demand for technology and services exports in both countries opens avenues for innovative start-ups.
- Start-up Support Platforms: Joint initiatives between institutions like Dalhousie University and the Vietnam Trade Office in Canada, help start-ups understand trade dynamics and make the most of free trade agreements.
The delegation from Dalhousie University learn about trade opportunities in Việt Nam. -VNA/VNS Photo Thanh Hải
The Future Looks Bright
- Export Surge: Vietnam's exports to Canada are soaring, recording a notable increase of 12.9% in early 2025, signaling potential for continued growth[5].
- Leveraging FTAs: Start-ups can maximize their potential by using existing trade agreements to optimize production and export channels, enhancing their competitiveness in the Canadian market.
- Dalhousie University students find bonding opportunities as they delve into understanding the trade dynamics with Vietnam, paving the way for successful start-ups.
- In the realm of finance and business, Canadian start-ups are capitalizing on the CPTPP's perks, such as tariff cuts, streamlined customs, supply chain integration, and standards harmonization.
- The NH Finance, in conjunction with other Canadian businesses, is eyeing new avenues for growth by leveraging the enhancement in export opportunities due to Vietnam's FTAs with the EU, Japan, and South Korea.
- Amid rising tensions in global trade, Vietnamese exports to Canada are surging, with a 12.9% increase in early 2025, suggesting continued growth.
- Ai-driven technologies are becoming integral to the export landscape, bridging the gap between Canadian and Vietnamese markets, such as in logistics and supply chain management.
- Education plays a crucial role in this trade route, as programs like Dalhousie’s Education-and-Self-Development Initiative or similar initiatives empower students with the necessary skills to thrive in the business environment.
- Exports and technology tie closely, as the burgeoning need for education and self-development aids innovative start-ups in catering to the growing demand for technological services in both Canada and Vietnam.
- The strategic location, refreshing economic growth, and continued infrastructure development in Vietnam are prime factors that attract start-ups to establish a foothold in Southeast Asia.
