Many Italian firms consider Vietnam ideal market for investment

There are numerous optimal factors for foreign businesses, including Italian ones, to do business in Vietnam, said Stefano Balsamo, founder of the Diplomatia association and Vice Chairman of J.P. Morgan in Italy.
Many Italian firms consider Vietnam ideal market for investment ảnh 1The workshop on investment in Vietnam was held by the Diplomatia association and the Vietnamese Embassy in Italy on April 12 (Photo: VNA)

Rome (VNA) – There are numerousoptimal factors for foreign businesses, including Italian ones, to do businessin Vietnam, said Stefano Balsamo, founder of the Diplomatia association andVice Chairman of J.P. Morgan in Italy.

He made the remark at a workshop on sustainableinvestment in Vietnam held by the Diplomatia association and the VietnameseEmbassy in Rome on April 12.

Balsamo said he had visited Vietnam and wasimpressed with the hospitality and friendliness of local people. It is alsonoteworthy that Vietnamese people’s consumption is growing.

Sharing his firm’s experience in Vietnam, ViceChairman at Piaggio & C. SpA Matteo Colaninno said in 2008, thanks to theVietnamese administration’s provision of favourable conditions, all necessaryprocedures for Piaggio’s production activities were handled quickly. Thecompany’s production scale expanded and its products made in Vietnam wereexported to other countries in 2009.

Vietnam is open to foreign direct investment andable to solve administrative procedures swiftly, he noted, adding that it is ayoung and dynamic country with an abundant workforce and high growth rate.

He said for Piaggio, Vietnam is an idealinvestment market and also a bridge for the company’s products to access otherSoutheast Asian and Asian markets.

For his part, Vietnamese Ambassador to Italy CaoChinh Thien briefed participants on Vietnam’s economy and policies for foreigninvestors, noting that the country is an emerging Asian market which has apopulation of more than 93 million with increasing middle class and an averageeconomic growth rate exceeding 6 percent annually over the last 10 years.

[Infographics: Vietnam-Italy economic and cultural relations]

The local business environment has improved andis highly valued by the international community. The World Economic Forumranked Vietnam’s competitiveness 55th among 137 economies, up five places. Thecountry also climbed 14 places to 68th position among 190 countries andterritories in the World Bank’s competitiveness rankings.

Thien said his country is also a gateway toaccess the vast ASEAN market with more than 600 million people.

Vietnam-Italy relations have been flourishing,especially since they signed a joint statement on a strategic partnership inJanuary 2013. Italy is one of the biggest European trade partners of Vietnamwhile Vietnam is the top ASEAN trade partner of Italy. Bilateral tradeapproximated 5 billion USD in the last three years. However, cooperationpotential remains huge considering the scale of the two economies andpurchasing power.

An important thing is that the two economies donot compete but are complementary to each other, he said, noting that once theEU-Vietnam Free Trade Agreement takes effect, it will help both economies.These factors are optimum conditions for the two countries’ businesses toenhance investment and business partnerships.

The Vietnamese Government is implementingpolicies to improve national competitiveness, restructure the economy andchange the growth model with a focus on restructuring public investment,State-owned enterprises and the finance-banking system. It encouragessustainable and responsible investment, especially in high technology,environmentally friendly industries and smart agriculture.

Ambassador Thien affirmed that the VietnameseEmbassy in Italy is ready to assist Italian investors to do business inVietnam.-VNA
VNA

See more

At the February 14 meeting between Lao Prime Minister Sonexay Siphandone and a delegation of Vietnamese businesses and international enterprises from various countries. (Photo: VNA)

Vietnam strengthens business and investment ties in Laos

Highlighting Laos's vast potential for trade and investment cooperation, Lao Prime Minister Sonexay Siphandone said that Laos is an attractive investment destination, particularly in agriculture, tourism, logistics, and infrastructure development.

Lao government officials and representatives of Vietnamese businesses at the seminar (Photo: VNA)

Vietnamese firms eye investment in Laos

He reaffirmed Laos as a key investment destination for Vietnamese and global firms, highlighting opportunities in agriculture, tourism, logistics, and infrastructure.

Vice Chairman of the Bac Giang People's Committee Mai Son (Photo: bacgiang.gov.vn)

Bac Giang speeds up non-state budget investment projects

In the coming period, the northern province of Bac Giang will focus on addressing challenges to non-state budget investment projects and expediting their progress, affirmed Vice Chairman of the provincial People's Committee Mai Son.

Representatives from industry associations share insights on Vietnam’s market trends. (Photo: VNA)

Vietnam, Thailand boost industrial trade exchange

Trade between Vietnam and Thailand reached 20.18 billion USD in 2024, up 6.4% year-on-year. Thailand remained Vietnam’s top ASEAN trade partner, accounting for 24% of its total trade with the bloc.

Representatives from Lao and Vietnamese agencies at the signing ceremony. (Photo: VNA)

Vietnam, Laos strengthen energy cooperation

A 1,200 MW wind power plant in Nong district, Laos’ Savannakhet province is expected to export 1,526 kWh to Vietnam annually once its first phase completes by the end of 2027, and additionally 1,112 million kWh per year after its second phase becomes operational in 2030./

A view of the Hanoi skyline. While rental properties continue to be in demand, there has also been a notable rise in the number of foreigners looking to buy houses. (Photo: VNA)

Housing demand from foreigners in Hanoi rises

Over several years, Hanoi has increasingly become an attractive destination for foreign workers, with approximately 10,000 new foreign workers are granted licences to work in the city each year.