Economic and trade cooperation between Vietnam and Italy has developed to an exciting period than ever. Recently, the Italian government continued to include Vietnam in the list of 20 countries that continue to prioritize in promoting trade and investment until 2030.
On July 5th, 2022, the Vietnam-Italy Economic Cooperation Seminar with the theme “Vietnam – A business and investment destination for Italian businesses” was organized by the Federation of Industry of Pisa province and Italian Chamber of Commerce in Vietnam (ICHAM), with the participation of Vietnamese Ambassador to Italy, the delegation of the Embassy, leaders of Pontedera cities, Pisa, Cascina, Calcinaia, leaders of the Confederation of Industry of Pisa Province, and local businesses of the province of Pisa and the Tuscan region.
Vietnam is currently Italy’s largest trading partner in the Association of Southeast Asian Nations (ASEAN), while Italy is Vietnam’s fourth largest partner in the European Union (EU). Two-way trade turnover in 2021 will reach USD 5.6 billion, the highest level ever, an increase of 20% compared to 2020. There are more than 110 Italian enterprises investing in 18 provinces and cities of Vietnam and operating successfully. Recently, the Italian government continued to include Vietnam in the list of 20 countries that continue to prioritize promoting trade and investment until 2030.
Why Italian companies should invest and do business in Vietnam? One is the dynamism of Vietnam’s economy. Second is the deep integration of the Vietnam economy, which is currently a member of 16 Free Trade Agreements (FTAs), including new and large FTAs such as EVFTA, RCEP and CPTPP. Third is Vietnam’s reforms and development priorities. Fourth is the measures to support from the Italian government for businesses, especially small and medium enterprises, in promoting “Made in Italy” products and internationalizing emerging markets. Fifth is the strengthening of exchanges and mutual understanding between the peoples of the two countries.
The Vietnam Ambassador believes that the conference is an opportunity to exchange information and the opening of new cooperation projects in the near future between Tuscany and Vietnam to enhance this highly potential bilateral cooperation. The Ambassador expressed his hope that more and more Italian businesses in general and Toscana in particular will continue the success of Italian companies investing in Vietnam, setting up companies in Vietnam taking advantage of Tuscany region, with strengths in cultural values, long history, tourism, cuisine, wine, fashion and handicraft products, and high technology.
A representative of Esanastri printing company, which has a factory set up in Vietnam, emphasized that, in addition to long experience in the field of manufacturing silk-printed decorations and 3D logos, as well as future planning when moving the production of helmet ornaments, adhesive graphics and 3D icons to Vietnam, it was the friendly business environment in Vietnam that became a decisive factor for the development of the company. To date, Esanastri Vietnam has 50 employees and has produced more than half a million decorations with a turnover of about 3 million euros in 2021.
A representative of Segis company, which also has a factory established in Vietnam, shared with the conference attendees about the successes of Segis Vietnam company when the company’s furniture products with own design has won many design awards from the Industrial Design Association in Italy (Compasso D’oro), exported to Italy, Europe and USA for the past 10 years.
Vietnam Ambassador has called for the support of the city authorities in informing and supporting businesses doing business and investing and establishing companies in Vietnam, creating favorable conditions for exchange activities, culture and trade between Vietnam and Italy within the framework of activities to celebrate the 50th anniversary of the establishment of diplomatic relations between the two countries.