Vietnam, Italy beef up trade, investment cooperation

Vietnamese Minister of Industry and Trade Nguyen Hong Dien (middle) at the event. (Photo: VNA)

Hanoi (VNA) – Vietnamese Minister of Industry and Trade Nguyen Hong Dien held a working session in Hanoi on March 28 with Marco Della Seta, Italian Ambassador to Vietnam and Regina Corradini D’Airenzo, CEO of SIMEST which is responsible for promoting Italian companies' outward investment and providing technical and financial support for investment projects.

Dien commended the Italian Embassy's proactive role in fostering economic, trade, industrial, and energy relations between Vietnam and Italy, including the successful implementation of the EU-Vietnam Free Trade Agreement (EVFTA) through specific action programmes, which have created a new momentum for Vietnam-EU economic and trade ties, particularly with Italy.

Selta affirmed that Italy always values and wishes to further enhance cooperative ties between the two countries, especially in the fields of economy, trade, industry and energy.

Italy considers Vietnam an important partner in the Association of Southeast Asian Nations (ASEAN) and highly values the Ministry of Industry and Trade (MoIT)’s crucial role in the Joint Committee for Economic Cooperation, particularly as a bridge between businesses of both countries, he said.

D’ Arienzo, for her part, presented the SIMEST’s tasks and goals of supporting Italian companies in accessing new foreign markets through purposeful loans and activities. She also reported a plan to open a SIMEST Representative Office in Vietnam.

On this occasion, Dien called on the Italian firms to invest in Vietnam's apparel and leather footwear supporting industries in which Italy has advantages in terms of technology and expertise to leverage the advantages brought about by the EVFTA.

He further introduced the upcoming Vietnam International Sourcing 2024 events organised by the MoIT in Ho Chi Minh City from June 6-8 and invited Italian enterprises and business associations to join in these events.

The host also expressed the MoIT’s commitment to working closely with the embassy to foster the bilateral economic, trade, industrial and energy ties.

Italy is now the third largest trading partner of Vietnam in the EU while and Vietnam stands as Italy's largest trading partner in ASEAN./.