Forum Highlights Vietnam’s Attractiveness as Destination for Businesses from Italy’s Lombardia Region

Lombardia’s export revenue to Vietnam last year reached 2.5 billion USD. Photo: VNA

Lombardia’s export revenue to the Southeast Asian nation in 2020 totaled an impressive $2.5 billion, accounting for almost 40% of the total trade value between the two countries, Cattaneo revealed at a recent business and investment forum in Milan, as reported by Vietnamplus.

He highlighted that Vietnamese renewable energy development strategies will provide golden opportunities for Lombardia businesses to capitalize on.

The Vietnam-Lombardia Business and Investment Cooperation Forum was held on May 31st, 2020, by the Vietnamese Embassy in Italy, in partnership with the Italian region and the Italy-Vietnam Chamber of Commerce (CCIV). This event was organised to commemorate the 50th anniversary of diplomatic relations between the two countries and it brought together more than 100 business representatives from Lombardia.

In his address, Vietnamese Ambassador to Italy Duong Hai Hung provided an overview of the potential, strengths, and rapid growth of the Vietnamese economy. He also expressed his wish that Lombardia would prioritize Vietnam in its process of internationalization, trade and investment expansion, and technology transfer, making it an exemplar of economic cooperation with Vietnam.

Vietnamese Ambassador to Italy Duong Hai Hung speaks at the forum. Photo: VNA

The Italian Embassy is prepared to assist Italian companies in exploring potential collaborations in Vietnam.

Lombardia’s Vice President Marco Alparone, who is also the councilor for budget and finance of the region, underlined the strong bond between Lombardia and Vietnam, emphasizing that the two sides should strengthen and boost their ties in various areas, with economic collaboration being the crucial factor.

Lombardy boasts a robust industrial production, agricultural processing, energy, finance, banking, and services sector, which could meet Vietnam’s growing requirements during its industrialization and modernization push, the Italian diplomat noted.

During his visit to Lombardia, the Vietnamese Ambassador conducted field trips to several organizations and corporations, such as Copan Spa, Chateaux D’Ax, and Exetra Spa, with the goal of advancing collaboration projects with Vietnam in the foreseeable future.

He was also present at the opening ceremony of the CCIV’s brand-new headquarters in Milan.

Launch of a Trade Exchange Platform for Vietnamese and Italian Businesses

VELP 2023 – a new trade exchange platform for Vietnamese and Italian businesses. Photo: VOV

The ASEAN-Education, Business Program 2023 (VELP 2023) was recently launched in order to facilitate trade exchanges and promote involvement in international supply and distribution networks between Vietnam and Italy, according to VOV.

The Italian Trade Agency, the Italian Ministry of Foreign Affairs and International Cooperation, and the General Confederation of Italian Industry (CONFINDUSTRIA) unveiled a new platform in Hanoi on May 26th. This joint venture aims to further strengthen economic ties between Italy and Vietnam.

VELP 2023 has been designed using the SMART 365 cloud platform to make it easier for Vietnamese businesses to connect and collaborate with their Italian partners and suppliers. Through the program, the business communities of the two countries can share up-to-date information about businesses, particularly small and medium-sized enterprises in various industries, including agricultural machinery and equipment, environment, mechanical engineering, and renewable energy.

Currently, many Italian investors in the manufacturing sector are thriving in Vietnam, including Bonfiglioli, Piaggio, Danieli, Datalogic, Ariston, ENI, and ENEL Green Power. Their successful operations demonstrate the potential of the Vietnamese market.

VELP 2023 is anticipated to reduce the time and cost associated with discovering collaboration prospects for Vietnamese and Italian firms in the dawning age of Industry 4.0, as well as during the deep international integration period.

After running

Vietnam and Italy have cultivated an influential and meaningful relationship in various areas over the last 50 years since the formation of diplomatic ties and 10 years since the initiation of their strategic partnership. Presently, Vietnam is Italy’s most significant trading partner in ASEAN, while Italy is Vietnam’s fourth-largest trading partner in the European Union./.