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Export Navigator Market Profile

Vietnam

One of Asia’s fastest-growing economies and a CPTPP partner, with tariffs on Manitoba agri-food still phasing to zero through 2029.

Last updated September 15th, 2026

Aerial view of Ho Chi Minh City, Vietnam, with the Saigon River, high-rise towers and highway infrastructure at sunset

More on the way

Vietnam is two markets. Hanoi and the north differ from Ho Chi Minh City and the south on regulation, buyers and consumer preference. Pick a region before you pick a buyer.

  • $1.0bn

    Canadian exports to Vietnam in 2024

    Source: Global Affairs Canada (Manitoba figure pending)

  • +31%

    Growth year over year

    Source: Global Affairs Canada, 2024

  • 102m

    Market population

    Source: IMF and World Bank, 2026

Trade agreements and market access

Notice

Vietnam is revising its Food Safety Law and issuing new Personal Data Protection guidance. Requirements for food and data-handling exporters may change before a deal closes.

  • CPTPP

    In force

    In force since 14 January 2019. Vietnam removed tariffs on 66% of lines for Canadian goods immediately; the rest phase out on a schedule running to 2029. Two products in one shipment can carry different rates, so confirm your HS code and its current staged rate before quoting.

    Global Affairs Canada — CPTPP tariff schedule
  • Rules of origin

    Required

    CPTPP preference only applies if your product meets the agreement’s origin rules. Documentation is the exporter’s responsibility. Get this confirmed before your first shipment, not after.

    Global Affairs Canada — CPTPP rules of origin

Not sure how this applies to your product? Book a consultation.

Market intelligence fact sheet

Vietnam has 102 million people with a median age of 34, a GDP near US$514 billion and total trade around US$930 billion. It is moving from low-cost manufacturing toward higher-value production, and a middle class expected to reach 26% of the population by 2026 is driving demand for quality food, education and technology. (Sources: IMF, Vietnam, World Bank, Vietnam)

Trade with Canada has more than tripled since CPTPP, reaching $15.7 billion in 2024. Canadian exports hit $1.0 billion, up 31% in a year. (Sources: Global Affairs Canada, Canada-Vietnam relations)

Vietnam is two markets. Hanoi and the north differ from Ho Chi Minh City and the south on regulation, buyers and consumer preference, and Canada’s two trade offices split along the same line. Pick a region before you pick a buyer. (Sources: Trade Commissioner Service, doing business in Vietnam)

Agri-food and plant-based ingredients. Manitoba already exports wheat, pulses, canola, beef and pork to Vietnam, so buyers know Canadian product. Food processing and Asia-Pacific plant protein are both growing structurally. CPTPP staging widens Canada’s tariff edge every year.

Aerospace and MRO. Vietnam is the fifth-fastest-growing aviation market in the world, with 22 airport expansions and 8 new airports planned by 2030. About 75% of its MRO is outsourced. Openings in training and simulators, MRO, airport infrastructure and air traffic control map onto Winnipeg’s aerospace cluster.

Clean tech, water and wastewater. A federal delegation vehicle for water technology is running through Southeast Asia into Vietnam.

Education and skills. The one sector with a dated 2026 federal event and a named in-market desk. Vocational and institutional partnerships are active.

Where Manitoba is the buyer, not the seller. ICT and broad manufacturing run the other way: Vietnam is a lower-cost producer. Treat these as sourcing markets outside specific niches.

  • Importer of record. Foreign firms cannot import in their own name. A Vietnamese entity must be importer of record, which makes partner selection a precondition for the first shipment.
  • Staged tariffs. Check each HS code against the CPTPP schedule and re-check annually.
  • SPS and labelling. Food import requirements are product-specific and set at national, provincial and sector level. Confirm with your importer before committing stock.
  • Evolving law. The draft Food Safety Law and Personal Data Protection guidance are both in motion.

Vietnam runs 34 seaports handling 864 million tonnes and 29 million TEUs a year. Most Manitoba agri-food reaches the market through a Singapore or Hong Kong trading house rather than direct sale. Northern shipments land through Hai Phong for Hanoi; southern through Ho Chi Minh City.

  • A verbal yes may mean “understood,” not “agreed.” Confirm every commitment in writing.
  • Expect a longer, relationship-led sales cycle. Consistent follow-up matters more than the first meeting.
  • English works at national level and in FDI sectors. Regional growth needs Vietnamese-language support.
  • Infrastructure and port procurement often runs by direct invitation rather than open tender. Early positioning beats a strong bid.
  • Several of the best in-market sources are Vietnamese-only or registration-gated. Budget for translation and access.

  • Embassy of Canada, Hanoi (TCS) · [email protected] · Trade section for all of Vietnam; sector expertise; partner matching
  • Consulate General, Ho Chi Minh City (TCS) · [email protected] · Southern buyer network
  • AAFC agri-food desk, Vietnam · [email protected] · Buyer contacts, sector reports, promotional programs
  • TCS education desk, Vietnam · [email protected] · Institutional partnerships and university missions
  • Export Development Canada · edc.ca · Financing, credit insurance, risk ratings; HCMC office since November 2024
  • CanCham Vietnam · canchamvietnam.org · Networking, 60+ events a year, trade delegations
  • Saskatchewan Vietnam Office · saskatchewan.ca · Prairie in-market presence alongside the TCS
Tariff rates by product group
Product group CPTPP rate MFN rate
Beef Phasing to 0% over 2 to 7 years Up to 34%
Canola oil Phasing to 0% over 7 years Up to 20%
Pork Phasing to 0% over 9 years Up to 31%
Wheat and pulses Confirm by HS code Varies

Where Manitoba businesses fit

Agri-business in Vietnam

Wheat, pulses, canola, beef and pork already move from Manitoba to Vietnam. Tariffs on these lines are phasing to zero under CPTPP. A Vietnamese importer of record and product-specific SPS compliance are the practical hurdles.

Read the sector topic in the fact sheet

Hear it from the podcast

Three colleagues working on laptops side by side at a boardroom table during a meeting
Podcast

Beyond Borders: selling into the United States

21 September 2026Episode 738 min

Listen
All Beyond Borders episodes

Funding for this market

  • Funding

    CanExport SMEs

    Up to $50,000 at 50% cost-share for export development in a new market.

  • Financing

    EDC working capital

    Export financing, credit insurance and FX; Vietnam risk ratings and an HCMC office.

  • Financing

    BDC market expansion loans

    Working capital for international growth.

Find all funding options

Who can help

Every conversation about Vietnam starts here

An advisor who knows the market will tell you in one call whether it is worth your next quarter.

Talk to an advisor about Vietnam
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Map of South and East Asia with Vietnam highlighted in navy

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Four live today, more each month. The pin list is generated from the same market records as the map.

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