Italian businesses wish to expand trade, investment in Vietnam

Hanoi (VNA) – Italian enterprises, particularly those in the northwestern region of Liguria, hope to promote business opportunities abroad, especially in markets like Vietnam, said President of the Genova Chamber of Commerce and Industry Paolo Odone at a recent seminar in Genova city, Italy.

Odone said local firms needed information on the Vietnamese market, including tax policies, intellectual property protection measures and human resources.

Cooperation and support from Vietnamese representative agencies in Italy is necessary, he said.

Vietnamese Ambassador to Italy Cao Chinh Thien suggested the two sides step up collaboration in economy, trade and investment.

Through the Vietnamese market, Italian businesses are able to expand their trade and investment to other members of the Association of Southeast Asian Nations (ASEAN), he said.

According to Maru Cotogno, Chairman of the Italy-Vietnam Friendship Association’s Liguria branch, the agreement on double taxation avoidance between Italy and Vietnam as well as the EU-Vietnam Free Trade Agreement offer numerous opportunities for Italian businesses in Vietnam.

Many Italian firms have effectively functioned in the Southeast Asian nation, with revenue reaching hundreds of thousands of USD after several months of operation, he said.

Participants at the seminar applauded Paolo Odone’s initiative in encouraging Italy’s regional chambers of commerce and industry to jointly organise business delegations to Vietnam. A delegation of businesses from Italy’s northern and northwestern regions will come to Vietnam to explore investment opportunities later this year.-VNA