Ambassador Duong Hai Hung (R) meets President of the Campania region Vincenzo de Luca. (Photo: VNA)

Addressing an October 17 conference, Ambassador Duong Hai Hung affirmed that the Vietnam-Italy partnership is growing with various effective cooperation mechanisms in many fields, from politics, diplomacy to economy and defence.

This is a good condition for the two sides to boost collaboration in many areas with supplementary nature and deal with arising difficulties such as the recent case of 100 cashew containers stuck in Italy, he stressed.

The ambassador noted that trade between the two countries rose 21% to 5.6 billion USD in 2021 and increased about 14% in the first eight months of this year.

The EU-Vietnam Free Trade Agreement, which brings many tax lines to zero, has been among the good conditions for Italian firms to invest in Vietnam, he said, noting that about 6,000 Italian investors have successfully invested in Vietnam.

Alongside, the young workforce, stable political system and the 15 FTAs that Vietnam has joined are also the country’s advantages, he added.

Prof. Pietro Masina from Naples L’Orientale University held that Vietnam’s “Doi Moi” (Renewal) cause has been successful with good economic growth and effective poverty reduction, making Vietnam an attractive market for Italian firms.

Honorary Consul of Vietnam in Naples Silvio Vecchione affirmed that with the stable fiscal environment, a gradually streamlined administrative apparatus, foreign direct investment to Vietnam has increased exponentially. With a population of about 100 million people, Vietnam will also be an attractive market for companies in consumer goods production, creating opportunities for businesses in the Campania region in the fields of food, wine and fashion.

Within the framework of the conference, Ambassador Hung had meetings with leaders of Campania and Naples city.

President of the Campania region Vincenzo de Luca expressed his hope for stronger investment cooperation between the two sides, especially in the region’s strong areas such as agriculture, fashion, military-civil industry, and aerospace as well as student exchange.