EDC and FPT Partner to Strengthen Strategic Cooperation Between Canada and Vietnam

06 Nov, 2024

Export Development Canada (EDC) and FPT Corporation, a global technology leader, have signed a Memorandum of Understanding (MOU) under EDC’s Market Leaders Partnership program. This collaboration aims to enhance trade relations and foster deeper cooperation between Canada and Vietnam in key sectors such as information and communications technology (ICT), healthcare, retail, and financial services. The partnership also emphasizes promoting environmental, social, and governance (ESG) practices across both countries.

Under the MOU, FPT will utilize its extensive network and expertise in Vietnam to help Canadian companies enter the market. It will also facilitate strategic connections and explore co-investment opportunities, with a target of assisting at least 20 Canadian businesses over the next three years. EDC, in return, will provide FPT with access to Canadian exporter and investor networks, offer innovative financing solutions, and support business engagements between Canadian companies and FPT’s subsidiaries.

Both parties are dedicated to advancing sustainability initiatives and will exchange knowledge on best practices in ESG. FPT will share its ESG frameworks to support Canadian companies in their sustainable business efforts. The partnership is part of EDC’s Indo-Pacific strategy to assist Canadian businesses in expanding their global presence, with a focus on high-potential markets like Vietnam. As part of this strategy, EDC will open its first office in Vietnam in late November 2024.

This MOU stems from ongoing discussions since 2023 and focuses on key strategic areas, including software development, system integration, and energy efficiency. Both parties aim to leverage their expertise to contribute to Vietnam’s growing ICT sector while strengthening bilateral ties.

Todd Winterhalt, Senior VP of EDC, emphasized that this partnership will create new opportunities for Canadian businesses in Vietnam, a rapidly growing economy in Asia. Phuong Nguyen, Managing Director of FPT Canada, also expressed confidence that this partnership would help foster sustainable growth and innovation, benefiting both nations.

FPT Corporation, headquartered in Vietnam, is a leading global technology and IT services provider. With over three decades of experience, FPT has become a key player in technology, telecommunications, and education, providing innovative solutions worldwide. In 2023, FPT generated USD 2.17 billion in revenue, employing over 48,000 people globally.

Export Development Canada (EDC) is a Crown corporation focused on helping Canadian businesses grow domestically and internationally. EDC offers a range of financial products and services to reduce financial risks and support Canadian companies in expanding their global footprint.

Related News

Interview