More than 300 representatives from 160 Italian companies, groups, and associations led by Minister of Economic Development Claudio Scajola, with many top Vietnamese enterprises took part in the Vietnam-Italy Business Forum on November 5 in Hanoi.
This is an event under the framework of the programme “Delegation of Italian Businesses to Vietnam 2008” held during two days of November 4-5 in Hanoi and November 6-7 in Hochiminh City aimed at creating opportunities for companies, banks and associations in the two countries to establish permanent cooperation relationship. The programme is held by the Italian Institute of Foreign Trade (ICE), Association of Italian Banks (ABI) and the Italian Confederation of Industries (Confindustria) in coordination with Italian Embassy in Vietnam and VCCI.
Marking a new era of cooperation
Delivering a speech at the Forum, Deputy Prime Minister Pham Gia Khiem highly appreciated the official visit to Vietnam by the Minister of Economic Development and the Italian business delegation, which showed the determination of strengthening investment cooperation with Vietnam.
“The Government of Vietnam will provide favourable conditions for Italian investors and entrepreneurs to invest in Vietnam. The development of economic and investment cooperation in Vietnam will be a bridge for Italian enterprises to expand their operations in ASEAN”, Mr Khiem affirmed.
Minister of Economic Development Claudio Scajola said, the political and economic cooperation relationship between Italy and Vietnam was growing successfully, however asymmetric to the potentials of the two countries. Mr Scajola believed that the bilateral cooperation would thrive with the governmental support and positive operation of enterprises, marking a new efficient era of cooperation between the two countries in the 21st century.
Mr Marco Saladini, Italian Trade Commissioner in Vietnam, said Italian businesses had longed for this trip and wished to supply goods and service for Vietnam as well as look for suppliers and investment opportunities in Vietnam. “We want to introduce top companies of “Made in Italy” brand, producers, banks and professional associations to Vietnam via this Forum”, he emphasised.
Vietnam – The new destination in Asian market
According to Chairman of Italian Institute of Foreign Trade Umberto Vattani, one third of Italian businesses in this Forum represented for producers of consumption goods, the rest stood for producers of wine, cosmetics, ceramics, specialised machinery and some suppliers of public products and services, law companies, and professional associations, etc.
As from statistic figures, bilateral trade turnover has grown from US$320 million in 1996 to US$1.5 billion in 2007. In the first seven months of this year, the trade turnover has reached US$984 million. Vietnam imports mainly machinery, leather, medical equipment, chemicals, household appliances, construction equipment and means of transport from Italy. Meanwhile, Italy import footwear, vegetables and fruits, textile and garment, interior furniture, coffee and seafood from Vietnam. At present, Italy is ranked nine among EU members investing in Vietnam with 28 projects worth US$114 million. Three well-known brand names include the confectionary Perfetti – owner of brand Mentos, Vespa – motorbike producer of Piaggio, and Merloni – manufacturer of water boiler Ariston.
As from general assessment, Italian enterprises that have investments in Vietnam already are happy with their decisions and have plans of operative expansion.
Mr Roberto Colaninno – President of Piaggio Company, when sharing experiences and expectation in doing business with Vietnam at the Forum, affirmed that Vietnam was a good opportunity to grasp immediately. He said the economy of Vietnam was making outstanding moves. With the progress of economic constitutional reform and international integration, favourable geographical location, diversified natural resources, young man power of high educational qualification, and safe security, Vietnam is an appealing destination for investment and business. Mr Roberto advised Italian investors that “The Government of Vietnam has introduced positive decisions to stabilise the economy. Therefore, we believe and feel secure when investing in Vietnam. You should consider Vietnam as a factory, a land to develop in Asian market”.
President of ABI Domenico Santasecca also said that ABI would open up cooperation and capital development with Vietnamese banks. ABI’s objectives are to increase the appearance of largest credit groups from Italia in this promising market, supply funds for Italian small and medium-sized enterprises to operate in Vietnam, and especially become a partner of Vietnamese banks in business opportunities.
Minister Claudio Scajola said that under the framework of Vietnam-Italy 2008 programme, more than 1,700 business talks have been carried out during two sessions in Hanoi and Hochiminh City in order to help Italian companies directly meet 30 potential partners as scheduled based on specific demands and field trips.
Besides, two Memoranda of Understanding have been signed regarding investment promotion between the ICE and the Foreign Investment Agency, Ministry of Planning and Investment, and cooperation between SIMEST and State Capital Investment Corporation (SCIC).
The Italian partner also stated that they would open the Chamber of Commerce in Vietnam, launch UNIDO project supporting small and medium-sized enterprises. Especially, Italian businesses will continue their investment in Vietnam, such as the new investment of US$27 million by the Carvico Group, which specialises in manufacturing cloth for sports clothes (Hung Yen Knitting and Dyeing Company); an investment of US$6 million by the MEDEXPORT Association in pharmacy (Medlac Pharma Italy Company Ltd.); and opening a representative office of Intesa Sanpaolo Bank in Hochiminh City.
Lan Anh
Vietnamese
