Randeep Sarai, Canada’s Secretary of State for International Development, speaks to Vietnamese media about the bilateral relations on Thursday. — VNS Photo Khánh Dương

HÀ NỘI — Canada is stepping up its development partnership with Việt Nam, Secretary of State for International Development Randeep Sarai said on Thursday while announcing US$81.28 million in funding for ten initiatives spanning climate action, justice reform, biodiversity and inclusive economic growth.

The package includes $20 million to support climate-smart coastal communities, $10 million for Việt Nam–Canada judicial capacity development, $10 million to expand biodiversity protection and livelihood opportunities for ethnic minority women and $10 million to advance growth, innovation and leadership for enterprises.

Speaking to Vietnamese media, Sarai said Canada’s support covers a broad range of priorities, from forest conservation and climate-smart agriculture to disaster risk management for communities recovering from recent floods and landslides.

The funding will also seek to boost private investment and social-impact businesses, help them reach vulnerable groups and promote women’s political participation, inclusive governance and access to justice, he said.

Canada has also assisted financial institutions to help them reach more small- and medium-sized businesses owned and led by women.

Sarai affirmed that the partnerships would take important steps towards building a greener economy and addressing climate vulnerabilities, both of which are top priorities for Việt Nam.

“I'm sure these partnerships will also contribute to the local economy by helping smaller businesses gain access to capital and business development so they can also grow,” said Sarai.

“These projects are part of a larger effort to strengthen the development partnerships and economic ties between our two countries.”

The Canadian official was on a three-day visit to Việt Nam from Tuesday to Thursday, during which he met key Government leaders and development partners to explore new opportunities and areas where the two countries’ development and trade priorities align, particularly in climate resilience, agriculture and clean energy.

He recalled the meeting between Canadian Prime Minister Mark Carney and Vietnamese Prime Minister Phạm Minh Chính at the 47th ASEAN Summit in October, which he said demonstrated strong interest in expanding cooperation in trade, energy, aerospace, security and critical minerals.

Sarai said Canada is firmly committed to strengthening its relationship with Việt Nam and across the Indo-Pacific region.

“Canada is proud of our reputation as a trusted, reliable partner. My time here in Việt Nam has made it clear that there are many exciting opportunities for Canada and Việt Nam to work together and deepen our partnerships in the future,” he said.

“We're also hard at work negotiating a new trade agreement with ASEAN that is sure to open doors for businesses at home in Canada, in Việt Nam and throughout the region.”

He said potential areas of cooperation range from increasing trade and agricultural products to empowering women in small- and medium-sized enterprises and mobilising more private capital alongside public funds.

Impressions of Việt Nam’s growth

After his visit, Sarai shared his impressions of Việt Nam’s economic momentum, praising the country for its efforts to expand GDP and strengthen manufacturing capacity.

“Việt Nam is now a leading country in the region.”

He also highlighted the Government’s ambition to drive growth, describing its target of 10 per cent economic growth this year as pretty remarkable.

Sarai added that Việt Nam has high expectations for expanding trade with Canada, noting that Canada has committed to almost doubling its trade with Việt Nam in the next five to 10 years.

As Việt Nam looks ahead to its next phase of development, Canada is keen to continue cooperation to further strengthen people-to-people ties, travel connections, supply chains and economic opportunities between the two countries, he said. — VNS