Vietnam woos Italians for industrial investments

09 Jun '15
2 min read
Courtesy: Nhandan/VN+
Courtesy: Nhandan/VN+

Vietnam is going full steam to boost its economy. After the recent decision to establish joint chamber of commerce with Germany, Vietnam has turned its attention to Italy.

Italian enterprises in the garment, leather and footwear, wood and automated machine sectors were introduced to investment opportunities in Vietnam at a recent workshop held by the trade office of the Vietnamese embassy in Italy, a leading Vietnamese newspaper has reported.

Trade counselor Bui Vuong Anh highlighted the potential for economic co-operation between the two countries, especially as Vietnam has recently signed free trade agreements (FTA) with South Korea and the Eurasia Economic Union (EEU) and is looking to finalise negotiations for a FTA with the EU in the near future.

Italy’s business associations expressed their deep interest in co-operation opportunities with Vietnam and proposed specific co-operative contents. Notably, they showed their willingness to work together with Vietnam in transferring technologies in the four-abovementioned fields, the report said.

The workshop was part of efforts to boost economic collaboration, aiming to create favourable conditions for business co-operation between the two countries’ enterprises, particularly as Vietnam and Italy have been reaping strong growth in bilateral economic ties, Bui Vuong Anh said.

Italy’s well-known firms including Italy-ENI, Piaggio, Ariston, Gattonini, Bonfiglioli, Datalogic and Mapei, considered Vietnam a strategic partner and a suitable destination for expanding the market in the Asia-Pacific region, as well as a potential market with a young population of 90 million people and a growing consumption demand, Anh added. (SH)

Fibre2fashion News Desk – India

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