Việt Nam-Italy trade ties shift into higher gear

Việt Nam-Italy trade ties shift into higher gear

Italy is now Việt Nam’s third-largest trading partner in the EU. In the first seven months of 2025, two-way trade reached over US$4.3 billion, marking a 5.1 per cent increase compared to the same period in 2024.

Participants gathered at the Việt Nam-Italy Business Conference in Hà Nội on Thursday — Photos baochinhphu.vn

Italian enterprises are urged to take a more active role in supporting Việt Nam’s sustainable development goals in a move to strengthen bilateral economic, trade and investment cooperation during a business conference in Hà Nội on Thursday. 

In his speech at the event, Deputy Minister of Finance Hồ Sỹ Hùng highlighted the strategic importance of Italy’s experience, technological expertise and financial capacity in helping Việt Nam tap into new and shifting global investment trends.

“Việt Nam looks forward to stronger engagement from Italian companies in advancing sustainable development, especially through high-tech investment and financial solutions aligned with global green trends,” he said.

Hùng emphasised the need for deeper collaboration in areas such as science, technology and innovation, underscoring their role as key drivers for future economic growth.

“At this forum, we will have the opportunity to connect and share cooperation experiences in four potential areas including mechanical machinery and agricultural technology; energy transition and circular economy; infrastructure and transport; and high technology and innovation,” Deputy Minister Hùng said.

He also called on Italy to advocate for the swift ratification of the EU-Việt Nam Free Trade Agreement (EVFTA) by remaining EU member countries while urging Italian investors to support Vietnamese enterprises in expanding their participation in global supply chains and to explore new areas of cooperation such as the digital economy, green economy, circular economy, energy transition, financial centres and free trade zones.

In light of Việt Nam’s commitment to achieve net-zero emissions by 2050, Hùng also expressed strong interest in learning from Italy’s experience in developing renewable energy and fostering a green economy.

“The Ministry of Finance attaches great importance to the voice of the business community. We are ready to listen and engage in dialogue to promptly address challenges, improve the legal framework and create a more favourable, equitable and attractive investment environment.”

“Our goal is to promote a win-win spirit that contributes to the friendship, prosperity and sustainable development of both countries,” he said.

Participants gathered at the Việt Nam-Italy Business Conference in Hà Nội on Thursday — Photos baochinhphu.vn

A key outcome of the forum was the signing of more than 10 memorandums of understanding (MoUs), covering crucial sectors such as Industry 4.0, energy and infrastructure, finance and insurance, trade promotion and tourism. These agreements mark a significant step forward in shaping concrete projects and expanding bilateral business ties.

Italy is now Việt Nam’s third-largest trading partner in the EU. In the first seven months of 2025, two-way trade reached over US$4.3 billion, marking a 5.1 per cent increase compared to the same period in 2024.

Việt Nam's exports to Italy totalled $3.1 billion, up 4.5 per cent year-on-year, while imports from Italy reached $2 billion, a yearly rise of 6.7 per cent. These figures highlight the growing dynamism and complementarity in the trade relationship.

On the investment front, Italy currently has 162 valid projects in Việt Nam with a total registered capital of over $624 million, placing it 32nd out of 151 countries and territories investing in the country.

In contrast, Việt Nam has one investment project in Italy with a total capital of nearly $700,000, indicating room for further outbound investment. 

Bizhub