NDO/VNA - Vietnam and Italy should step up cooperation in trade and investment, while expanding their
The Italian Trade Agency in Vietnam announced on May 26 that it has teamed up with the Italian Ministry of Foreign Affairs and International Cooperation and the General Confederation of Italian Industry to set up the ASEAN Education and Business Programme (VELP 2023).
VELP 2023, https://asean.digital.ice.it/, is a useful portal built on the SMART 365 platform to facilitate direct and reliable connections between Vietnamese businesses seeking partners or suppliers in Italy.
Through VELP 2023, the two countries can access updated information on a greater number of firms, particularly small and medium-sized enterprises operating in various fields, including agricultural machinery and equipment, environment, mechanical engineering and renewable energy.
As a powerhouse in industry and machinery, Italy specializes in providing a wide range of high-quality products and advanced technological solutions. Currently, many Italian investors in the manufacturing industry are doing business successfully in Vietnam, namely Bonfiglioli (power transmission and gear motors), Piaggio (mechanical engineering and motorcycles), Danieli (steel production), Datalogic (barcode readers, sensors, mobile devices), Ariston (water heaters and energy equipment), ENI (oil and gas), and ENEL Green Power (renewable energy).
Since the establishment of diplomatic ties five decades ago and bilateral strategic partnerships a decade ago, Vietnam and Italy have become important partners in various fields.
Vietnam is now the biggest trade partner of Italy in ASEAN while Italy is the fourth largest trade partner of Vietnam in the EU. More and more Vietnamese and Italian firms are showing interest in each other's markets and working to seek ventures in various areas./.