Solutions offered to increase Vietnam-Italy economic ties
Speaking at the Vietnam-Italy business forum in Hanoi on Nov. 5, the deputy PM urged the two governments to work together, focusing on major projects in Vietnam in which Italy can invest, as well as creating the favourable conditions necessary to successfully carry out these projects.
Deputy PM Khiem, who doubles as the Minister of Foreign Affairs, emphasised the need to increase the flow of information between the two nations in order to help businesses from Vietnam and Italy to better understand each other.
“In recent years, Vietnam-Italy political relations have developed smoothly, but their economic ties have remained limited, forcing the governments and business circles of the two countries to establish a vision and concrete plans of action,” he said.
The Italian Minister of Economic Development Claudio Scajola, who is leading a business delegation exploring investment opportunities in Vietnam , said that Italy now ranks ninth among European Union countries investing in Vietnam , with 28 projects totalling 114 million USD.
The minister said that all Italian investors have expressed satisfaction over their decisions to invest in Vietnam and are planning to expand their operations within the Southeast Asian country.
The forum attracted the participation of representatives from 115 companies and business associations, as well as 11 Italian banks. Following the event, two deals were signed between the Italian Institute for Foreign Trade and the Vietnam Foreign Investment Agency, and between Italy ’s SIMEST and the State Capital Investment Corporation (SCIC).
According to the General Statistics Office, Vietnam-Italy trade value stood at 984 million USD during the first seven months of this year. Bilateral trade reached a record total of 1.5 billion USD in 2007.
Vietnam ’s key export staples to Italy include footwear, fruit and vegetables, garments and textiles, interior goods, coffee and seafood. The country imports industrial machines, leather, medical equipment, chemicals, home appliances, construction machines and vehicles from Italy.
