Consult a map and you’ll see why Vietnam earned the moniker “Land of the Ascending Dragon.” While its distinctive shape likely inspired the initial nickname, nowadays, it could also be a nod to its rapid economic ascent.

Vietnam saw its gross domestic product (GDP) increase by over 5% last year, and forecasts for this year and next stand at 6% and 7%, respectively. According to data from World Economics, over the last decade, Vietnam has maintained a compound annual growth rate of over 8%.

Given these figures, it’s no surprise that Export Development Canada (EDC) selected Vietnam as the next focus in the Indo-Pacific. The in-market team, set to open in fall 2024, will be led by Nathan Nelson, EDC’s inaugural chief representative in Vietnam and innovation director for the Indo-Pacific.

Nelson’s mission in his new position is evident: to double Canadian exports to Vietnam within the next five years. Continue reading to learn why this market presents abundant opportunities for Canadian businesses.

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