Vietnam, Italy Seek to Step up Economic Cooperation

At the meeting with credit and insurance group SACE. Photo: Vietnam's embassy in Italy
At the meeting with credit and insurance group SACE. Photo: Vietnam’s embassy in Italy

Vietnamese Ambassador to Italy Duong Hai Hung has held working sessions with leaders of credit group CDP, Simest credit institution of CDP, credit and insurance group SACE and the General Confederation of Italian Industry (Confindustria) of Italy as part of the embassy’s economic diplomacy activities of in 2023, VNA reported Sunday.

According to Pasquale Salzano – President of Simest, General Director in charge of European and international affairs of CDP Group, Vietnam is in the strategic priority list of Simest.

Simest has completed the building of a platform connecting Italian small-and medium-sized enterprises with Vietnam, which is expected to be launhed this year, he said.

Vietnamese Ambassador to Italy Duong Hai Hung holds a working session with Barbara Beltrame Giacomello. Photo: VNA
Vietnamese Ambassador to Italy Duong Hai Hung holds a working session with Barbara Beltrame Giacomello. Photo: VNA

Vietnam is currently the largest trade partner of Italy among the ASEAN countries, with two-way trade reaching USD 4.25 billion in the first eight months of 2022, up 13.9% year on year. About 6,000 Italian firms are investing in Vietnam.

Particularly, the EU-Vietnam Free Trade Agreement (EVFTA), which eliminates import taxes for 99% of tariff lines, has special meaning to bilateral ties when Italy and Vietnam have opened their economies and relied heavily on exports.

Vietnam is still a gateway for Italy to enter the 600-million-strong ASEAN market

Ale Alessandra Ricci – CEO of SACE also stressed that Vietnam is a target country in this group’s strategic list.

SACE will focus on implementing many activities in Vietnam in the near future, including establishing a temporary office, she said.

SACE has developed a promotion and guarantee strategy so that selected Vietnamese businesses can access preferential loans from banks with no strings attached, she added.

Vietnamese businesses guaranteed by SACE are operating in the fields of food and beverage, energy and mechanical engineering, with a total guaranteed capital of up to EUR 1.3 billion (over USD 1.39 billion).

Additionally, SACE has strengthened market connection activities for businesses, Ricci noted.

Meanwhile, Barbara Beltrame Giacomello, Vice President for International Affairs of Confindustria said that more and more Italian businesses are interested in the Vietnamese market, so Confindustria will consider the Vietnamese market as its focus in Asia.

At the meeting, Ambassador Hung expressed his delight at the priority of Italian firms and organisations for Vietnam in their operational plans in the world, especially in Asia.

The diplomat highlighted the friendship between the two countries, Vietnam’s strong economic growth and its and advantages in the region, as well as the mutual complementarity of the two economies, saying that the embassy supports plans and projects to promote cooperation between Italian businesses with Vietnam.

He took the occasion to share priority areas of economic cooperation that Vietnam want to strengthen with Italy.

The ambassador suggested Italian agencies and organisations further strengthen coordination with the embassy to expand connection between organisations, businesses and localities of Vietnam and Italy, thus contributing to further promoting the bilateral economic, trade and investment cooperation.

Hannah Nguyen

The post Vietnam, Italy Seek to Step up Economic Cooperation appeared first on Vietexplorer.com.

View more from VietExplorer:

Mystical Sa Pa in the season of clouds
In Vietnam, crystal meth abusers find their place in secret karaoke bars
Vietnam, a seriously good choice for your holiday after the coronavirus pandemic
Year’s highest tide submerges roads in Ho Chi Minh City
Vietnam cancels 2020 F1 race due to COVID-19 pandemic
Art book a nostalgia stroll on early-20th-century Hanoi peddlers and their cries
Scrumptious grilled bread with salt and chili in Hanoi
Lively green Trang An in autumn
Young farmer makes fortune from grapes
Creative teacher inspires students to learn history
Official logo, mascot of 31st SEA Games, 11th Para Games launched
Vietnam International Travel Mart 2020
Reviving the Dong Ho folk painting craft
Yen Tu Mountain a popular autumn travel destination
Bun Ca – the soul food for chilly days
Ta Xua has more than clouds
Land of legends
Hanoi exchange program lures 500 chefs
“Thach gang”: A popular refresher of Hai Phong city
Vietnamese noodle soup—version of Can Tho

Comments

Post a Comment

Popular posts from this blog

Young individuals in traditional attire captivate foreigners’ attention in Hanoi

The event, organized by young enthusiasts of Vietnamese traditional costumes, showcased various traditional garments including nhat binh (square-collared garb), ngu than (a five-paneled aristocratic gown from the 19th and early-20th centuries), and ao dai (Vietnam’s traditional long gown), among others, as well as traditional hats. Foreign tourists were impressed by young people dressed in unique and colorful traditional outfits. Many of them used their smartphones or cameras to capture the essence of the event, which was filled with Vietnamese culture. Nguyen Nga, a member of the organizing board, explained that the aim of the event was to promote Vietnamese traditional costumes to the public. While ao dai is already well-known, many people are not familiar with other types of traditional costumes, which are also valuable parts of the country’s heritage, Nga added. Daniel, a British tourist, expressed his excitement when he came across the event during his stroll in Hanoi. It was t...
Read more

Da Lat Flower Festival 2022 to last for two months

The biennial national and international cultural- tourism event, to be organised by the provincial administration, aims to honour horticulture in Da Lat, promote tourism and trade, and call for greater investment in the locality. The 2022 festival is scheduled to start on November 1 and will last through to December 31, with numerous activities to take place across Da Lat – a resort city dubbed Little Paris in Vietnam . Highlights of the occasion include art flower spaces, music programmes, fashion shows, and a hot air balloon festival.  Most notably, the grand final of the Miss Earth Vietnam 2022 pageant is set to take place in Da Lat on December 30. Art flower spaces will open until January 31, 2023, or the 10th day of the first month of the lunar calendar to serve locals and tourists keen to celebrate the Lunar New Year, known locally as Tet. There will also be a fireworks show on the eve of the New Year 2023. The post Da Lat Flower Festival 2022 to last for...
Read more

Phu Quoc to host “Fashion Voyage #5” show in April

The show with the theme “Dating with a Kiss” is set to be organised in Sunset Town, a resort entertainment complex developed by Sun Group. This is the fifth time the group has worked with director Long Kan, the show’s producer, to introduce admirable fashion shows which also helps promote Vietnam’s tourism. A collection with a futuristic style by designer Chung Thanh Phong named “Kiss the Stars” will be staged at the show with multimedia technologies, amidst the majestic sea and sky, the combination of fire, water, light, laser, and music. On the second night of Fashion Voyage #5, the show stage is the Kiss Bridge – an architectural masterpiece, a symbol of the Vietnamese-Italian cultural interference. Dong Thi Ngoc Anh, deputy general director of Sun Group, said that after the Fashion Voyage, it is expected that many artists will come to Sunset Town in particular, and Phu Quoc in general, to seek inspiration and bring here special events, festivals, art programmes to spread t...
Read more