Vietnam looks to step up economic cooperation with Italian region

A series of workshops and seminars on the potential for promoting economic cooperation between Vietnam and the Umbria region, along with trade and investment promotion events, were hosted by the Vietnamese Embassy in Italy on April 14 – 16.

The events were part of activities in the framework of the Vietnam – Italy Year 2023 in celebration of the 50th founding anniversary of the diplomatic ties between the two nations.

In his speech at the workshop “Vietnam-Italy economic support: opportunities for the Umbria region” which was held in coordination with the Confindustria Umbria and Umbria Export, Ambassador Duong Hai Hung stressed that economic cooperation is a bright spot in the bilateral relations, noting that Vietnam is Italy’s largest trading partner in ASEAN while Italy is Vietnam’s fourth biggest partner in the European Union (EU).

He mentioned similarities and mutual complementarity in the economic structure between the two countries, which can bring significant added value to both sides in cooperation.

The two countries need to expand cooperation in economic areas where Italy has strengths and Vietnam has demand, such as basic and supporting industries, hi-tech industries, smart agriculture, agricultural exports, mechanical engineering, construction materials, oil and gas, and green energy, he said.

General Director of Confindustria Umbria Simone Cascioli said that Vietnam is currently a dynamic partner that Perugia, the capital city of Umbria, wants to promote cooperation in business, investment and market expansion.

He said Confindustria Umbria consists of about 900 businesses with more than 47,000 employees. Although most are small and medium-sized enterprises, they have strong international relations and are accelerating internationalisation, especially in areas of green economy, high technology, robotics, automation, smart agriculture and renewable energy.

The workshop offers a chance for the two sides to enhance the connection among their businesses, and boost cooperation in trade, investment, technology transfer, training high-quality human resources; and share experience in building policies and institutions.

On the occasion, Ambassador Hung had meetings with representatives of businesses in the cities of Perugia, Trasimeno, Citta di Castello, Foglino and Gubbio, during which he briefed on business opportunities in Vietnam.

He also visited a number of traditional enterprises in the region such as Tela Umbria textile factory and famous wineries, and Laboratory of Mechatronics LABOMEC, which is located in one of the most industrially concentrated areas in Umbria.