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Italian businesses promote investment in Vietnam
Italy wants to further strengthen trade ties with Vietnam, said Tomaso Andreatta, President of the Italian Chamber of Commerce (Icham) in Vietnam and Chief Representative of Intesa SanPaola Bank at a meeting with businesses in Ho Chi Minh City on March 9.
Mr. Andreatta pointed to the fact that Italian businesses have come to Vietnam later than others. They have so far invested around US$200 million in the country, including US$100 million in 2009. Last year, Piaggio invested US$50 million in building a scooter manufacturing plant and Carvico spent US$30 million on producing elastic cotton.
Mr Andreatta added that Danieli Company plans to invest around US$500 million in developing some rolled steel mills in Vietnam. In addition, some others are also gearing up preparations to invest in the fields of food and coffee processing.
Last year, Vietnam exported fish, garments, footwear, pepper and wood products to Italy, earning nearly US$1 billion.
“The appearance of Icham in Vietnam will help both Italian and Vietnamese businesses to seek investment opportunities in each other country,” Mr. Andreatta said.
Established in 2009, Icham now has around 40 members operating in Vietnam, including 22 in Ho Chi Minh City.
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