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Vietnamese market awaits Italian businesses

GBS - Italian businesses, including those from the Tuscany region, will continue to receive support from the Vietnamese Government to run their long-term business in the country.

The pledge was made by Vietnamese Deputy Foreign Minister Nguyen Phuong Nga at a forum on Vietnam-Italy business and investment which took place in the Tuscany region’s capital city of Florence on April 22.

Apart from traditional cooperation areas, the Vietnamese market is offering huge investment opportunities for Italian businesses, especially in the Public-Private Partnership (PPP)-model fields, such as transport, electricity and water, where Italian businesses boast cutting-edge technologies, abundant capital and experience, Nga said.

Reviewing the two countries’ growing economic and trade ties, Nga said two-way trade jumped remarkably from 320 million USD in 1996 to 2.9 billion USD in 2012.

She cited successful operation of many Italian economic giants in Vietnam such as Piaggio, ENI, Bonfiglioli, Perfetti, Technit and Ansaido to support her view.

Italy now ranks 32 nd among Vietnam ’s foreign direct investors with 45 projects capitalising at 198 million USD, she said.

Nga took the occasion to briefed the Italian businesses on Vietnam ’s political, socio-economic situation as well as the country’s outstanding achievements during the past 25-year renewal process.

Vietnam has lured over 180 billion USD in FDI from 89 countries and territories nationwide, with over 13 billion USD poured in last year alone, she said.

The diplomat highlighted the friendship and traditional cooperation between the two countries, which, she said, have been constantly consolidated and developed fruitfully since the two sides set up their diplomatic ties in 1973.

Nga cited the establishment of the strategic partnership during the State-level visit to Italy by Party General Secretary Nguyen Phu Trong earlier this year.

At the forum, Italian Ambassador to Vietnam Lorenzo Angeloni described Vietnam’s achievements over the past two decades as a foundation for the country to continue pursuing its development goals in the next decade.

He expressed his hope that more Italian businesses will invest in Vietnam and ASEAN at large.

Present at the event, President of the Italian Trade Promotion Agency Riccardo Maria Monti pointed to great cooperation opportunities for the two countries’ businesses.

The forum attracted the participation of over 200 Vietnamese and Italian businesses. It forms part of the “Vietnamese days in Tuscany” from April 17-28.

Earlier on the day, Nga paid a courtesy visit to the Tuscany region’s Chairman Enrico Rossi, during which the two sides discussed measures to encourage and support Tuscany businesses who wish to do business in Vietnam.

Vietnam and the region can expand cooperation to medical equipment and technologies, infrastructure, culture-tourism and agricultural product processing.

They agreed to boost the operation of the Vietnam Office, which is located at the Tuscany region’s Economic Promotion Agency, to create more favourable conditions for the two countries’ businesses.

- VNA

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