100 Italian firms to visit Vietnam for investment opportunities: ambassador

The Italian firms operate in a wide range of fields, from infrastructure and mechanics to energy and renewables, Ambassador Lorenzo Angeloni said during a media meeting at the Italian Embassy in Hanoi.

Italy's deputy industry minister Carlo Calenda, who is responsible for trade, will head the delegation, beginning their call on November 23, according to the envoy.

The business communities of the two countries are poised to co-organize a Vietnam-Italy Economic Forum in Hanoi on November 24, with bilateral economic and political ties topping the agenda, according to Radio the Voice of Vietnam.

The forum will be followed by a business-to-business exchange between Vietnamese and Italian enterprises. The event, also in Hanoi, will seek to establish cooperation between the two countries’ businesses and explore fields that have potential for collaboration.

The businesses will continue in-depth discussions on particular sectors on November 25 before leaving for Ho Chi Minh City, according to the radio station.

The Italian businesses hope this will be a precious chance to build and strengthen economic ties with their Vietnamese partners, Ambassador Angeloni said.

Trade ties between Vietnam and Italy have improved with apparel, footwear, seafood, and coffee the Vietnamese export staples to the South European country.

Most Italian shipments to the Southeast Asian nation include machinery and parts, and raw materials for food and medicine production.

Italy is the third largest EU trading partner of Vietnam, according to Ambassador Angeloni.

The envoy added that he hopes bilateral trade will reach 3.5 billion euros (US$4.3 billion) this year.

Italy is Vietnam’s 18th largest export market, and the 15th largest import market of the Southeast Asian country, according to the Radio the Voice of Vietnam.

Trade value between the two countries topped nearly $3 billion in 2012.