Italy and Vietnam deepen trade and investment relationships to unprecedented levels
Vietnam's capital market has seen significant expansion, with 1,600 listed and registered firms now operating within its borders. This growth includes seven companies valued at over $10 billion each and 61 firms exceeding $1 billion. The Vietnamese stock market, now one of the fastest-growing globally and the most liquid in ASEAN, with daily transactions averaging over $1.1 billion, has caught the attention of Italy.
During the Viet Nam - Italy Investment Connection Forum in Milan, Italy, Minister of Finance Nguyen Van Thang highlighted Vietnam's robust recovery amidst global uncertainties and called on Italian businesses to contribute their expertise, capital, and credibility to support Vietnam's pursuit of green and sustainable finance, high technology, and innovation-driven growth.
The forum, hosted by the Vietnamese Ministry of Finance, marked another milestone in the strategic partnership between Vietnam and Italy, which was established in 2013. Since then, the two countries have achieved numerous cooperation achievements, with Italy now Vietnam's third largest trading partners in the European Union, with two-way trade topping $4.3 billion during the January - July period.
Raffaele Cattaneo, Undersecretary with responsibility for International and European Relations of Lombardy Region, emphasized the growing opportunities for Italian firms to enter the Vietnamese market, facilitated by the new direct flight route to Milan. The Lombardy Region also expressed its interest in fostering local-level partnerships with Vietnam to strengthen exchanges and investment efficiency.
To ensure the safety, transparency, and sustainability of the yahoo finance stock market today, Vietnam is completing its legal frameworks and aligning them with international practices. The Vietnamese Government is also drastically completing economic institutions and improving the business and investment environment. Multiple reforms have been put in place to facilitate foreign investments in Vietnam.
Vietnam prioritizes investment in green, digital, circular, and knowledge-based economy, renewable and new energy, international financial centre, green finance, and high-tech agriculture and industry. This focus on sustainable growth has been evident in Vietnam's economic performance, with the country posting a GDP growth of 7.09% last year, and the momentum continuing this year with Q2 GDP growth hitting 7.96%.
Foreign investment flows remain strong, with Vietnam attracting US$26.14 billion in both foreign direct and indirect investment in the first eight months of 2021, a year-on-year increase of 27.3%. This growth has positioned Vietnam as a leading investment destination in the Association of Southeast Asian Nations (ASEAN) and Asia.
Read also:
- Trade Disputes Escalate: Trump Imposes Tariffs, India Retaliates; threatened boycott ranges from McDonald's, Coca-Cola to iPhones
- Aquatech purchases Koch's Direct Lithium Extraction business, merging Li-ProTM DLE technology into the PEARLTM Technology Platform.
- Nepal's Journey: Evolution from Street Life to Political Power
- Li Auto faces scrutiny after crash test involving i8 model and a truck manufacturer sparks controversy
