Vietnam, Italy seek to further expand economic, investment cooperation

A delegation of the Commission for the Management of State Capital at Enterprises (CMSC) led by its Vice Chairman Nguyen Canh Toan had working sessions with representatives of the Italian insurance and finance group SACE, the CDP Group, and the SIMEST Group on October 24 and 25, as part of their ongoing working trip to Italy.

General Director of SCIC Nguyen Quoc Huy (L) and Chief International Business Officer of SACE Michal Ron ink a MoU on cooperation between the two sides

In the meeting with SACE - the entity that specialises in providing investment financial solutions for Italian businesses, Toan said representatives of Vietnam’s leading state-owned corporations and enterprises in key economic sectors of transport, aviation, telecommunications, and finance, hope that by learning international experience, they will continue to innovate state capital management and corporate governance methods, demonstrating their leadership role in economic sectors and helping to realise the Vietnamese Government's macroeconomic goals.

Chief International Business Officer of SACE Michal Ron said Vietnam’s rapid economic development and its significant role in the global industrial supply chain have made it a potential partner for Italy.

Vietnam serves as a gateway to the Southeast Asian region, she said, adding that SACE has opened a representative office in Vietnam to support Italian businesses entering the market, and it is also considering investment activities in sectors where Vietnam excels in exports, especially coffee and agricultural products.

At the meeting, General Director of the State Capital Investment Corporation (SCIC) Nguyen Quoc Huy and Michal Ron inked a Memorandum of Understanding (MoU) on cooperation between the two sides, laying a strong foundation for the partnership between the two corporations in particular, and contributing to the development of the over-50-year relationship between Vietnam and Italy.

According to Toan, the signing of the MoU will further facilitate cooperation and investment between businesses of the two countries.

At the meeting with representatives of CDP and SIMEST, Toan stated that CMSC always seeks to support Vietnamese businesses and their Italian partners in promoting trade and investment across sectors, adding that CMSC is willing to act as a bridge to assist CDP and SIMEST in accessing and engaging with relevant ministries, sectors, and localities of Vietnam, as well as introducing Vietnamese businesses for mutual consideration on investment opportunities in the Vietnamese market.

He invited leaders and colleagues from CDP and SIMEST to visit and work at CMSC and with enterprises represented by CMSC during their business trips to Vietnam in the coming time.

Representatives of CDP and SIMEST expressed their desire to strengthen cooperation in areas such as renewable energy, green technology, agriculture, transport infrastructure and finance and banking. They showed their commitments to expand and deepen cooperation with CMSC in the future.

Established in 1850, CDP is an important financial institution of the Italian government, with the mission of supporting economic development by providing funding for infrastructure and sustainable development projects.

Meanwhile, SIMEST was established in 1991, specialising in supporting Italian businesses in their expansion into international markets, particularly in strategic regions like Asia, where Vietnam is seen as one of the top priority targets.

On this occasion, the CMSC delegation also had a working session with representatives of the Vietnamese Embassy in Italy, in which Toan expressed the hope that the embassy will continue to support Vietnamese businesses in general, and those under the CMSC in particular, to connect and set up investment and business partnership with Italian companies./.

VNA