Italian businesses wish to expand trade, investment in Viet Nam

Friday, Apr 29, 2016 15:10

A shrimp production workshop in southern Can Tho City. Italian companies are in need of information on the Vietnamese market to develop their business in the country. — Photo

HA NOI (Biz Hub) – Italian enterprises, particularly those in the northwestern region of Liguria, hope to promote business opportunities abroad, especially in markets like Viet Nam, said President of the Genova Chamber of Commerce and Industry Paolo Odone at a recent seminar in Genova city, Italy.

Odone said local firms needed information on the Vietnamese market, including tax policies, intellectual property protection measures and human resources.

Co-operation and support from Vietnamese representative agencies in Italy is necessary, he said.

Vietnamese Ambassador to Italy Cao Chinh Thien suggested the two sides step up collaboration in economy, trade and investment.

Through the Vietnamese market, Italian businesses are able to expand their trade and investment to other members of the Association of Southeast Asian Nations (ASEAN), he said.

According to Maru Cotogno, Chairman of the Italy-Vietnam Friendship Association's Liguria branch, the agreement on double taxation avoidance between Italy and Viet Nam as well as the EU-Viet Nam Free Trade Agreement offer numerous opportunities for Italian businesses in Viet Nam.

Many Italian firms have effectively functioned in the Southeast Asian nation, with revenue reaching hundreds of thousands of US dollars after several months of operation, he said.

Participants at the seminar applauded Paolo Odone's initiative in encouraging Italy's regional chambers of commerce and industry to jointly organise business delegations to Viet Nam. A delegation of businesses from Italy's northern and northwestern regions will come to Viet Nam to explore investment opportunities later this year. — VNS

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