Vietnam is urging Italian businesses to partner in developing financial centers and free trade zones as new drivers of growth for the country.

Deputy Minister of Finance Ho Sy Hung made the call at the Vietnam-Italy Business Forum 2025 on September 4, which brought together more than 200 Vietnamese companies and nearly 100 Italian firms.

He called on Italian investors to help Vietnamese businesses engage more deeply and effectively in global supply chains, boosting value creation and enabling knowledge transfer in management and technology.

Hung said that both sides should expand cooperation in emerging fields such as digital economy, green economy, circular economy, and energy transition.

"Vietnam is particularly eager to learn from Italy’s experience in renewable energy development and green growth, as the country pursues its net-zero emissions target by 2050," he noted.

“This forum is an opportunity to connect and share the best practices across four potential sectors: mechanical machinery and agricultural technology, energy transition and circular economy, infrastructure and transport, and high-tech industries and innovation,” he said.

The deputy minister also urged Italy to advocate within the European Union (EU) for the early ratification of the EU-Vietnam Investment Protection Agreement (EVIPA).

Once approved, the pact would provide an essential legal framework, enabling businesses of both sides to tap into the vast opportunities offered by the EU and ASEAN markets.

Strategic partnership built on complementarities

Speaking at the forum, Vietnam's Deputy Minister Hung said that the two countries share four important complementarities.

"Vietnam and Italy are reliable partners. Our economies complement and reinforce each other, and we share a strong basis for long-term cooperation," he said.

The Vietnamese government is committed to building a good business environment for Italian companies, Hung said.

Since establishing a strategic partnership in 2013, the Vietnam-Italy bilateral relations have made notable achievements, becoming a model of regional cooperation. The two countries began diplomatic relations in 1973.

The forum also witnessed the signing of over 10 memoranda of understanding (MoUs) across key sectors including innovation and Industry 4.0, energy and infrastructure, financial and insurance, trade and tourism. 

At the event, four breakout sessions allowed Vietnamese and Italian participants to hold in-depth discussions on machinery and agricultural technology, energy transition and circular economy, infrastructure and transport, and high-tech innovation.

Business-to-business networking sessions also created space for direct exchanges between companies, helping them identify potential partners, expand markets, and forge long-term, sustainable partnerships.

In January-July of 2025, two-way trade between Vietnam and Italy reached more than US$4.3 billion, up 5.1% year-on-year. Vietnam’s exports to Italy grew by 4.5% on-year to hit $3.1 billion, while imports from Italy stood at $1.2 billion, up 6.7% on-year.

In terms of investment, Italian companies have had 162 projects in Vietnam with total registered capital exceeding $624 million, ranking 32nd among 151 countries and territories investing in the country.

Vietnam has one investment project in Italy, valued at nearly $700,000.