Italian firms learn about Vietnam’s market potential
Italy will benefit most from the EU-Vietnam free trade agreement (EVFTA), former Italian Prime Minister Enrico Letta commented at a seminar held recently in the northern Italian city of Milan.
Rome (VNA) – Italy will benefit most from the EU-Vietnam free t𝔉rade agreement (EVFTA), former Italian Prime Minister Enrico Letta comm♈ented at a seminar held recently in the northern Italian city of Milan.
He suggested Italian firms change their business approach by not only focusing on manufacture in Vietnam for export to Europe but also gearing towards consumption in the country.
Sharing the same view, President of the Lombardy Industrial Federation (Assolombarda) Gianfelice Rocca said the EVFTA will bring many benefits to Italian businesses in both Vietnamese and ASEAN markets.
Meanwhile, member of the EU negotiating delegation Raffaele Petriccione said the agreement is a new-generation deal which offers more comprehensive terms with a higher degree of liberalisation in comparison to the World Trade Organisation deal.
Apart from building necessary legal frameworks for trade and investment, Italian companies should travel more to Vietnam to learn more about the market and their partners, he said.
Vietnamese Ambassador to Italy Cao Chinh Thien, for his part, said Vietnam is hailed as an attractive business destination and a trustworthy trade partner, which will make it easier for Vietnamese and Italian firms to do business.
In an interview granted to Vietnam News Agency, former Italian PM Enrico Letta praised Vietnam as a promising market on the back of its political stability, young population, abundant and quality workforce, which present a good chance for Vietnamese and Italian entrepreneurs to forge partnerships.
The seminar attracted over 50 leading compani☂es from northwestern Italy./.
Italy’s Emilia-Romagna region and Vietnam’s southern Binh Duong province boast economic similarities, a favourable foundation for them to develop an economic partnership, Vietnamese Ambassador to Italy Nguyen Hoang Long said at a recent workshop.
How to expand export links between Vietnam and the EU, particularly Italy, and improve business management of small- and medium-sized enterprises, were among others discussed at a workshop in Rome.
Italy has prioritised developing relations with Vietnam in the Southeast Asian region in particular and Asia in general, Vice President of the Senate Valeria Fedeli has said.
Investment and trade between Vietnam and Italy haven’t been on par with their potential and demand, the countries’ Joint Committee on Economic Cooperation admitted at its second meeting in Rome.
The Prime Minister has approved the content of a draft cooperation agreement on mutual administrative assistance in customs between the Governments of Vietnam and Italy.
President Sergio Mattarella emphasised important roles of businesses, associations and universities in materialising reforms and innovations, and strengthening cooperation between Italy and Vietnam.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Deputy PM Tran Hong Ha urged countries to work together to remove supply chain bottlenecks, expand market access, strengthen cooperation in smart customs procedures, mutually recognise technical standards, and eliminate unnecessary protectionist barriers to boost trade and investment.
The event has gathered over 400 exhibitors from 16 countries and territories, with more than 980 booths showcasing a wide range of products and technologies in automotive components, electronics, repair and maintenance, bodywork, accessories, and customisation.
The latest order follows Vietjet’s commitment for 20 additional A330neo aircraft last month, bringing the airline’s total widebody aircraft on order to 40.
Minister of Finance Nguyen Van Thang acknowledged the target represents an important milestone for socio-economic development as well as a demonstration of the country’s aspiration for robust economic growth.
The price of E5 RON92 petrol is now capped at 20,631 VND (0.79 USD) per litre, up 1,169 VND from the previous adjustment, while RON95-III costs no more than 21,244 VND per litre, up 1,277 VND.
At the seminar (Source: VNA)
