Vietnam-Italy Business Forum 2025: Opening New Avenues of Cooperation

Italy is now Vietnam’s third-largest trading partner in the European Union, with bilateral trade in the first seven months of 2025 surpassing US$4.3 billion. Their relationship has grown not only in trade and investment but has also been strengthened by mutual trust, shared values, and a joint commitment to sustainable growth and peace.

Mr. Valentino Valentini, Deputy Minister for Enterprises and Made in Italy, addresses the forum

These points were highlighted at the Vietnam-Italy Business Forum, jointly organized in Hanoi by the Ministry of Finance, the Italian Trade Agency (ITA), and Confindustria, Italy’s national employers’ federation.

Italy as Vietnam’s leading strategic partner in Europe

Speaking at the forum, Deputy Minister of Finance Ho Sy Hung emphasized that after 40 years of “Doi moi” (Renovation), Vietnam has transformed from a poor, war-torn agrarian country into one of the world’s 34 largest economies; among the world’s top 20 trading nations; and has signed 17 free trade agreements with more than 60 economies.

Currently, Italy is Vietnam’s third-largest trading partner in the EU. In the first seven months of 2025, bilateral trade reached more than US$4.3 billion, up 5.1% from the same period in 2024. Vietnam’s exports to Italy totaled US$3.1 billion, up 4.5% year-on-year, while imports from Italy stood at US$1.2 billion, up 6.7%.

On investment, Italian investors are involved in 162 projects in Vietnam with total registered capital exceeding US$624 million, ranking 32nd among 151 countries and territories investing in Vietnam. Conversely, Vietnam has invested in one project in Italy, with a total capital of nearly US$700,000.

“Notably, Vietnam and Italy share four important complementarities: trustful partnership; mutually reinforcing economies; warm and genuine sentiments; and a shared aspiration for peace and robust development,” Deputy Minister Ho Sy Hung noted.

 Valentino Valentini, Italy’s Deputy Minister for Enterprises and Made in Italy, emphasized that the relationship between the two countries has long been positive and continues to strengthen. In today’s global context, bilateral cooperation has become even more important.

Citing President Ho Chi Minh’s teaching, “For the benefit of ten years, plant trees; for the benefit of a hundred years, cultivate people,” Valentini remarked that Vietnam and Italy, along with their business communities, should base their relationship on solid foundational steps.

“Through technology transfer, social development, and capacity building in sectors where both sides have strengths, bilateral cooperation will increasingly be directed toward a long-term, sustainable vision,” addedValentini.

Partners exchange MOUs at the Vietnam-Italy Business Forum

Untapped potential

Alongside the positive achievements, Deputy Minister Ho Sy Hung affirmed that there is still considerable potential for further economic, trade, and investment cooperation between Vietnam and Italy. With its highly developed industrial base and numerous globally recognized corporations, Italy represents a strong potential partner.

To harness this potential more effectively and enhance the quality and efficiency of business-to-business cooperation, Deputy Minister Ho Sy Hung outlined several directions for the coming period. First, Vietnam hopes Italian enterprises, with their experience, resources, and reputation, will support the country in accessing shifting investment flows, green and sustainable financing, and investments in science, technology, and innovation. Second, with its policy of selective foreign investment, prioritizing quality, efficiency, technology, and environmental protection, Vietnam welcomes projects in sectors such as the green economy, digital economy, circular economy, knowledge economy, science and technology, innovation, new and renewable energy, international and green finance centers, high-tech agriculture and industry, commerce, and tourism.

Third, Italian investors are encouraged to help Vietnamese companies integrate more deeply and substantively into global supply chains. Fourth, Italy is urged to advocate for swift ratification of the EU-Vietnam Investment Protection Agreement (EVIPA) among EU member states. This is an important foundation for businesses in both countries to strengthen cooperation and tap into the vast potential of the ASEAN and EU markets. Fifth, enterprises from both countries should expand collaboration in emerging areas such as the digital economy, green economy, circular economy, and energy transition. In particular, to realize Vietnam’s net-zero by 2050 goal, the country seeks to learn from and cooperate with Italy in renewable energy and green economy development. Finally, Italy is invited to enhance cooperation with Vietnam in new growth drivers such as financial centers and free trade zones.

By Le Hien, Vietnam Business Forum