Italian firms seek investment opportunities in Vietnam

Illustrative photo (Source: VNA)

Vietnam is emerging as a promising trade and investment destination for the business community in Italy’s Sicily region, as heard at a forum aimed at connecting Vietnam and Sicily held on July 14-16.

Speaking at the event, Alessandro Albanese, head of the General Confederation of Italian Industry (Confindustria), said in the coming time, the Confindustria in Sicily will promote its role in linking firms in the region with the Vietnamese market via creating the foundation for specific trade agreements.

Vietnamese Ambassador to Italy Nguyen Thi Bich Hue highlighted perse cooperation fields and a myriad of trade and investment opportunities for the two sides, particularly after tariffs will be gradually eliminated following the ratification of the EU-Vietnam Free Trade Agreement (EVFTA).

Vietnam is also a gateway to the ASEAN market, she added.

Participating enterprises paid attention to Vietnam’s development and investment priorities, farm produce trade prospects, smart city, environment, new energies, and links between local businesses and Vietnamese students studying in Italy, among other matters.

President of Sicily Nello Musumeci said he supports the EU-Vietnam Investment Protection Agreement (EVIPA) as it is a drive to boost investment between Vietnam and Italy.

He pledged to call for accelerating the ratification of the pact.

Vietnam – Italy trade in the first five months of 2021 reached 2.29 billion USD, up 29.3 percent year-on-year./.