Italian Business networking

Mr. Michele D'Ercole, President of Italy Chamber Commercial in Vietnam welcomed the delegation. The two sides discussed the cooperation program to connect businesses in the Mekong region in Vietnam and Italy in 2021-2022

In terms of economy, trade, trade relations between Vietnam and Italy have developed positively in recent times. Vietnam is one of 10 emerging markets in the Italian Government's priority for developing trade and investment relations. Currently, Vietnam is Italy's largest trading partner in the Association of Southeast Asian Nations (ASEAN). The two sides always create favorable conditions for businesses of the two countries to strengthen cooperation in areas where Italy has strengths and Vietnam has needs, such as: mechanical engineering, infrastructure, textiles, footwear, leather and footwear. , wood processing, supporting industries, building materials, petroleum, renewable energy, food processing.

Regarding investment, by the end of October 2020, Italy ranked 32nd out of 138 countries and territories investing in Vietnam with 116 valid investment projects, total registered capital of over 390.14 million USD, mainly in the following industries: leather shoes, construction, sanitary ware, water heaters, steel processing. Italy's direct investment projects in Vietnam are not many, but the largest projects are in the manufacturing industry such as Bonfiglioli (engine manufacturing), Piaggio (motorcycle production and assembly), Danieli Officina (steel production), Fiat Iveco (Mekong automobile joint venture), Datalogic, Ariston (water heater manufacturer). Many Vietnamese woodworking and stone processing factories are using Italian machinery and technology. Danieli's steelmaking equipment has been present in more than 10 projects in Vietnam, including Vietnam - Italy Steel Factory, Phu My Steel Factory.