Import-export activities at Gemalink deep-water port, Ba Ria-Vung Tau province. Photo: Hong Dat/VNA

In his writing, Fragiskos said that Vietnam is called the Land of the Ascending Dragon. While its unique geographical shape may have inspired the original nickname, these days, it could be referring to its rapid economic growth

Based on data from World Economics, in the last 10 years, its compound annual growth rate has been more than 8%. Last year, Vietnam’s gross domestic product (GDP) grew by more than 5%, with forecasts for this year and next, sitting at 6% and 7%, respectively.

"With numbers like these, it’s no wonder EDC chose Vietnam for our next representation in the Indo-Pacific," he wrote.

Scheduled to open in fall 2024, the in-market team will be led by Nathan Nelson, EDC’s first chief representative in Vietnam and innovation director for the Indo-Pacific.

Nelson said that now is important time for Vietnam. The country has been investing heavily in infrastructure development and is already an incredible manufacturing hub. For those reasons, he’s focused on identifying which advanced manufacturing and infrastructure projects mesh closest with Canadian capabilities, so he can foster connections and build capacity.