Canada’s development finance institution, FinDev Canada, is looking to expand its investment activities in Vietnam following talks in Ottawa between senior officials from both countries this week.
Vietnamese Finance Minister Ngo Van Tuan met with Canadian Finance Minister François-Philippe Champagne and held a separate working session with FinDev Canada leadership during a state visit to Canada by Vietnam’s Party General Secretary and State President To Lam. The visit ran from Wednesday to Thursday.
The two finance ministers discussed the direction of financial cooperation between the two countries, including steps to carry out an action plan tied to a joint declaration that recently upgraded Vietnam-Canada relations to a strategic partnership. Tuan also invited Champagne to visit Vietnam and attend the APEC Finance Ministers’ Meeting scheduled for 2027 in the northern city of Quang Ninh.
Vietnam Pitches Green Growth Priorities
In his meeting with Nick Anstett, vice-president and chief strategy officer at FinDev Canada, Tuan outlined Vietnam’s priorities around green growth, energy transition, and building a sustainable private sector. He said the country has significant demand for affordable, long-term financing, particularly for transport infrastructure, seaports, logistics, energy projects, and climate-resilient agriculture.
Tuan encouraged FinDev Canada to broaden its investment footprint in Vietnam and to build stronger connections with Vietnamese banks, businesses, and financial institutions in order to identify projects suited to its financing criteria.
Anstett said Vietnam continues to be a priority market within FinDev Canada’s five-year strategy, with a particular focus on climate finance.
Past Deals and Future Plans
Last year, FinDev Canada made two investments in Vietnam, channelled through VPBank and HDBank, with each deal valued at US$75 million. Those investments were directed toward supporting green finance, agriculture, and private-sector businesses in the country.
Looking ahead, the agency said it wants to expand into areas such as modernizing power grids, energy storage, sustainable infrastructure, and agriculture. It is also seeking to bring in other Canadian businesses, investment funds, and pension funds to participate in Vietnamese projects.
Framework for Future Cooperation
Both sides agreed on a framework to guide future collaboration. Under the arrangement, FinDev Canada will set out the standards and conditions required for loans, technical support, or equity investments, while Vietnam will be responsible for selecting projects that meet those criteria.
This article is for informational purposes only and does not constitute financial, investment, or legal advice. Consult a licensed financial advisor before making investment decisions.
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