On October 18, Export Development Canada (EDC), Canada’s export credit agency, and Masan Group (HOSE: MSN), Vietnam’s leading consumer retail company, announced the signing of a Memorandum of Understanding (MOU) to promote cooperation. Key areas of cooperation include retail consumption, branded fast-moving consumer goods, fresh produce and branded meat, F&B retail chains, financial services, and mineral exploitation and processing. As part of Canada’s Indo-Pacific market penetration strategy to promote Canada’s interests in the region, EDC opened its first representative office in Vietnam this year. The MOU will further promote economic cooperation between Canada and Vietnam, creating new opportunities for Canadian businesses and investors who want to enter, develop and succeed in Vietnam. Masan Group has been accompanying Vietnam’s impressive economic development over the past three decades. With the Point of Life strategy of meeting 80% of daily essential consumer spending in the areas of essentials (FMCG, grocery retail and fresh/processed meat), financial services (credit, investment and payment services) and lifestyle (telecommunications, entertainment and healthcare), the Group's mission is to serve 100 million consumers in Vietnam and around the world. The partnership with EDC is expected to promote Masan's "Go Global" strategy. With an extensive international network and the ability to provide long-term financial resources, EDC will support businesses in Masan's ecosystem, especially in the field of tungsten mining and processing. “I am delighted that the MOU promoting the partnership with Masan Group is the first MOU that EDC has signed since opening its first representative office in Vietnam this year,” said Todd Winterhalt, Senior Vice President, International Markets and Head of Communications and Public Affairs. “The partnership between the two parties will further develop the close economic relationship between Canada and Vietnam. Partnering with a leading corporation like Masan Group will help EDC promote Canadian trade opportunities in Vietnam by increasing market understanding, building networks and enhancing supply chain security between the two countries.”
Source: https://www.masangroup.com/vi/news/masan-news/EDC-signs-first-partnership-in-Vietnam-with-Masan-Group-to-advance-trade-relations-between-both-nations.htmlAccording to Vietstock
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