Vietnam’s investment policy and law were introduced at a seminar in Turin in northern Italy.

Vietnamese Ambassador to Italy Dang Khanh Thoai affirmed that despite the global economic downturn, Vietnam’s economy has been able to maintain a relatively high GDP growth and remains an attractive venue for foreign investors.

President of the Italy-Vietnam Trade Chamber Giovanni Giustetto said that Vietnam has changed rapidly over recent years and is in need of large-scale capital for modernising all of its economic sectors.

Italian businesses highlighted Vietnam’s potential as a market, with a population of 86 million people, but admitted that Italy has not undertaken many major projects in the country.

Italy had 28 investment projects totalling 114 million USD in 2008, jumping from the 36th place in 2007 to the 31st place among 81 investors in Vietnam . Two-way trade recorded a 20 percent year-on-year rise to 1.7 billion USD in 2008. The Italian government has agreed to grant 30 million EUR in credit in the 2009-2012 period to Vietnam’s small and medium-sized enterprises operating in environment and health care.

However, Italy’s foreign economics cooperation agency noted that although the Italian Government considered Vietnam as a strategic bridging point in its foreign economic policy through 2020, its businesses have failed to receive their government’s assistance on information and policies on investing in Vietnam, which has slowed their entry in to the market.

The two countries’ businesses hoped to have more opportunities for future dialogue and cooperation following President Nguyen Minh Triet’s official visit to Italy slated for December this year./.