Vietnam – Italy trade cooperation promises bright prospects in 2025: Trade counsellor

Introducing Vietnamese farm produce at the 41st Macfrut Fair in Rimini City, Emilia-Romagna region, Italy. (Photo: VNA)

Hanoi - Trade cooperation between Vietnam and Italy in 2025 is expected to see many promising opportunities and favourable conditions for stronger growth, Vietnamese Trade Counsellor in Italy Duong Phuong Thao has said.

With the support of Italy's insurance, credit guarantee, and credit corporations, as well as the context that Italy's traditional markets have shown no signs of recovery, Italian businesses are exploring opportunities to diversify their supply sources and are likely to invest more boldly in Vietnam, Thao said.

According to the trade counsellor, many Italian companies are seeking partnership opportunities, joint ventures, or acquisitions, while several Vietnamese corporations are also interested in collaborating with or acquiring Italian businesses in sectors where Italy has strengths and Vietnam has demand such as supporting industries, precision engineering, and automobiles.

Vietnam can learn from Italy’s experience in its strong sectors such as circular economy, smart city, green economy, marine economy, renewable energy, nuclear power, high-speed railway, and semiconductor technology, she said.

The direct flight route between Hanoi and Milan will officially open in July 2025, expected to contribute to expanding economic and cultural exchanges between the two countries, particularly in tourism, investment and business connections.

Vietnam is currently regarded as one of the brightest spots for investment and business activities, Thao said, adding that in 2025, opportunities for investment will be explored with higher intensity and frequency, leading to the realisation of more potential prospects.

Vietnam retains its position as Italy's largest trading partner in the Association of Southeast Asian Nations (ASEAN), while Italy is Vietnam's third biggest trading partner in the European Union (EU).

In 2024, the Vietnam Trade Office in Italy carried out substantial activities across various sectors, contributing to intensifying trade and investment relations between the two countries. It has focused on strengthening cooperation with southern Italian regions through a series of events in Naples - the capital of Campania, and Basilicata, Calabria, Sicily, and Sardinia. These events provided valuable information and highlighted the feasibility of investment, production, and trade opportunities in Vietnam.

The Italian regions’ leaders expressed strong interest and willingness to send delegations of businesses to Vietnam in the coming time to explore specific investment and business opportunities.

Minister of Industry and Trade Nguyen Hong Dien attended an open session on supply chains within the framework of the G7 Trade Ministers' Meeting in Italy, showing Italy’s and the G7 nations' recognition of Vietnam's role in the global supply chain. At a bilateral meeting with the Vietnamese minister on the sidelines of the event, Italian Deputy Prime Minister Antonio Tanjani revealed a plan to send a business delegation to Vietnam as soon as possible.

Vietnam Coffee Day 2024 in Italy was a significant and impactful economic event, aimed at fostering cooperation and establishing partnerships between the two "coffee powerhouses.” Following the event, Vietnamese coffee businesses received direct purchase inquiries from Italian coffee importers. Several Italian coffee associations announced plans to organise their delegations to Vietnam in 2025 to explore opportunities and conduct initiatives to boost direct coffee export from Vietnam to Italy.

For the first time, Vietnam had a booth at Milan Design Week 2024, showcasing exquisite furniture and decorative art products that highlight Vietnam's dynamism, creativity, and rich cultural diversity, attracting the public and designers worldwide.

The signing of a Memorandum of Understanding (MoU) on agricultural cooperation between Vietnam's Ministry of Agriculture and Rural Development and Italy's Ministry of Agriculture outlines specific orientations for developing the bilateral relations in the future, including strengthening investment cooperation between businesses from both nations.

The Italian export credit agency SACE and the State Capital Investment Corporation (SCIC) signed a MoU to promote cooperative activities between leading Italian companies and large corporations and businesses of Vietnam./.