Viet Nam has maintained its position as Italy’s largest trading partner in ASEAN, while Italy has consistently ranked among Viet Nam’s top five trading partners in the European Union. To date, Italy has 167 valid investment projects in Viet Nam with a combined registered capital of 633.77 million USD, mainly in footwear, construction, sanitary equipment, water heaters and steel processing.

Viet Nam currently has one valid investment project in Italy, with total registered capital of 682,172 USD, in the processing and manufacturing industry.

Viet Nam encourages Italian enterprises to expand investment in areas where Italy has strengths and Viet Nam has significant potential, such as manufacturing, high technology, industrial infrastructure, science and technology, innovation and clean energy. Against the backdrop of steadily developing bilateral relations, Italy could serve as a gateway for Vietnamese goods into Europe.

In Viet Nam’s tourism development strategy, Italy is identified as one of the country’s key and highly promising markets, as it has extensive experience in developing tourism linked to cultural heritage. The two countries regularly organise cultural weeks and months in Italy and Viet Nam, as well as events such as the Year of Viet Nam in Italy and the Year of Italy in Viet Nam.

Cooperation in education and science and technology between Viet Nam and Italy has also shown positive momentum. Through the Action Programme on Educational Cooperation for the 2019-2022 period, the two sides successfully organised Viet Nam-Italy higher education forums. The number of exchange students has increased in both directions. Meanwhile, more than 90 joint scientific research projects have been signed and implemented in areas of Italy’s strength and Viet Nam’s interest, such as biotechnology and medicine, nuclear energy cooperation, applied physics, technologies for the conservation and restoration of cultural and natural heritage, and innovation.

Given the positive progress in bilateral relations and the considerable potential for cooperation, Viet Nam and Italy are working to further strengthen bilateral ties, contributing to elevating the relationship to a new height.