Italian Businesses Interested in Vietnam’s Investment Climate

Many Italian businesses operating in machinery manufacturing displayed their products at the Vietnam International Precision Engineering, Machine Tools and Metalworking Exhibition and Conference (MTA Vietnam 2011) in Ho Chi Minh City, aiming to boost trade in machines and tools between Vietnamese and Italian businesses. Italian visitors were suppliers and manufacturers specialising in mechanical and metallic engineering from bending, pressing to grinding, drilling, cutting, welding, and piping production for cleansing and painting. New faces in the delegation included BLM Group, Cemb, Coral, Evlaser and FPT Industrie. Attending this MTA Vietnam 2011, Italian businesses wanted to share experience in global technological competition with Vietnamese companies. Besides, this is a good opportunity for Italian companies to seek opportunities for business and investment in Vietnam.

 

According to Italian businesses, Vietnam is considered one of the fastest-growing markets in Asia in terms of mechanical engineering and machine manufacturing. Attending MTA Vietnam 2011, Italy introduced machines of advanced technology, high versatility for optimisation of productivity and production. Notably, Italian firms wanted to share experience in effective manufacturing, designing and management by boosting flexibility, efficiency and cost control.

 

According to statistics in 2007 by the Association of Italian Manufacturers of Machine Tools, Robots, Automation Systems and Ancillary Products (UCIMU), in Italy, machine tools were used more by machine manufacturing industries, and accounted for 40 percent of machinery output. Automobile and mould industries are two primary customers of this industry in Italy.

 

Mr Marco Saladini, Trade Commissioner to the Italian Trade Commission (ITC) in Ho Chi Minh City, said: ITC and UCIMU are very interested in helping Italian businesses to create new business partnership relations because the Vietnamese machine manufacturing industry is developing, and will develop strongly in the next 5 - 10 years. Through the exhibition, Italian manufacturers provided best solutions for a growing demand of the machine tool manufacturing industry in Vietnam.

 

In October 2011, a delegation of Italian infrastructure companies will explore the market and opportunities of investment cooperation with Vietnamese partners, said Italian Ambassador to Vietnam Lorenzo Angeloni. In November, President of Government of Tuscany State, Italy will pay an official visit to Vietnam and he will be accompanied by a big business delegation in search of market and investment opportunities. The ambassador proposed cooperating with the Vietnam Chamber of Commerce and Industry (VCCI) to organise business forums for business communities of the two nations.

 

The Ambassador said supporting the business community in general and small and medium enterprises (SMEs) in particular is on the priority working agenda during his term in Vietnam.

 

He also spoke highly of VCCI’s efforts for SME development. Vietnam and Italy have a lot of opportunities for development and they are promoting cooperation to tap mutual potential and strengths. Recently, Italy partnered with the United Nations Industrial Development Organization (UNIDO) to build Industrial Subcontracting and Partnership Exchanges (SPX) in some countries, including Vietnam, to support SMEs.

 

Dr Vu Tien Loc, VCCI President, affirmed that VCCI is ready to cooperate with the Italian Embassy in Vietnam to accelerate cooperation and promote trade between the business communities of the two countries. VCCI always gives priority to the development of SMEs. In addition, he hoped that Italy would share business experience and jointly promote cooperation with Vietnamese businesses.