Italy explores Vietnamese textile sector for investment

26 May '12

2 min read

A delegation of representatives of over 40 Italian firms is currently on a visit to Vietnam to explore trade and investment opportunities in the Southeast Asian country, including in the textile and clothing sector.

The visit is part of the Enterprise Partnerships for Development Forum, a project aimed at supporting the development of small and medium-sized enterprises (SMEs) in Vietnam and helping Italian SMEs go global through the promotion of trade and investment agreements between business establishments of both countries.

Under the project, several Vietnamese companies in textile and garment sector have been provided technical assistance through consultancy by experienced professionals.

The knowledge acquired during the consultancy would help the companies in selection of potential partner firms from the two countries.

At a meeting of the Forum, Tran Dinh Thien, Director of the Vietnam Institute of Economics, told the Italian team that the country offers advantages like a young and growing labour force, availability of natural resources and long coastline.

UNIDO Country Representative Patrick Gilbert said Vietnam is one of the best bets for long-term growth as its real per capita GDP growth is expected to be around 6.4 percent during 2010-50.

During their stay in Vietnam, the executives of Italian firms, who are in Vietnam for the first time to study investment and trade opportunities, will visit several textiles and garment manufacturing units and meet potential partners at business-to-business sessions.

Fibre2fashion News Desk - India

More Textiles News - Vietnam...