Enhancing trade and investment cooperation between Vietnam and Italy
In Hanoi on March 28, Vietnamese Minister of Industry and Trade Nguyen Hong Dien convened a working session with Marco Della Seta, the Italian Ambassador to Vietnam, and Regina Corradini D’Arienzo, CEO of SIMEST, which facilitates Italian companies’ outward investment and provides technical and financial support for investment projects. Minister Dien lauded the proactive role of the Italian Embassy in bolstering economic, trade, industrial, and energy relations between Vietnam and Italy, particularly highlighting the successful implementation of the EU-Vietnam Free Trade Agreement (EVFTA) through specific action programs. This initiative has injected new momentum into Vietnam-EU economic and trade ties, with Italy playing a significant role.
Ambassador Della Seta affirmed Italy’s commitment to enhancing cooperative ties with Vietnam, emphasizing key areas such as economy, trade, industry, and energy. He underscored Vietnam’s importance as a partner within the Association of Southeast Asian Nations (ASEAN) and acknowledged the crucial role of Vietnam’s Ministry of Industry and Trade (MoIT) in fostering economic cooperation, especially in facilitating business connections between the two countries.
D’Arienzo outlined SIMEST’s objectives of supporting Italian companies in accessing new foreign markets through targeted loans and activities, including plans to establish a representative office in Vietnam. Minister Dien seized the opportunity to encourage Italian firms to invest in Vietnam’s apparel and leather footwear supporting industries, areas where Italy possesses technological expertise that aligns well with the advantages brought about by the EVFTA.
Additionally, Minister Dien introduced the upcoming Vietnam International Sourcing 2024 events, scheduled to be held by the MoIT in Ho Chi Minh City from June 6-8, and extended an invitation to Italian enterprises and business associations to participate.
Expressing commitment to closer collaboration, Minister Dien assured the MoIT’s readiness to work hand-in-hand with the embassy to strengthen bilateral economic, trade, industrial, and energy ties. Currently, Italy ranks as Vietnam’s third-largest trading partner in the EU, while Vietnam stands as Italy’s largest trading partner within ASEAN.
