Vietnam always encourages sustainable investment: Ambassador

Friday, 2018-04-13 12:51:01
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Vietnamese Ambassador to Italy Cao Chinh Thien (L) and Stefano Balsamo, the founding president of the Diplomatia association. (Photo: VN+)
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NDO – The Vietnamese Government always encourages sustainable investment, especially in the fields of high technology, environmentally friendliness, and smart agriculture, aiming to facilitate climate change adaptation in the country, Vietnamese Ambassador to Italy Cao Chinh Thien stated.

The diplomat made the statement at a workshop themed “Sustainable investment in Vietnam”, jointly held by Italy’s Diplomatia association and the Vietnamese Embassy in Italy, on April 12, as part of the celebrations of the 45 years of Vietnam-Italy diplomatic ties (March 23, 1973-2018).

New as it is in Vietnam, the area of sustainable investment (SRI and ESG) always receives care from the Vietnamese Government, Thien said, stressing that in addition to the continuous implementation of incentive policies to attract foreign investment, the Vietnamese Government is also committed to boosting administrative reforms and creating favourable conditions for investors.

Vietnam is a perfect gateway to access the vast ASEAN market with a population of more than 600 million, which offers a good opportunity for Italian companies to start and develop their businesses in both the Vietnamese and ASEAN markets, Thien affirmed.

The Vietnam-Italy relations have been growing finely, especially since the signing of a joint statement on the establishment of a strategic partnership. Italy is one of Vietnam’s major trade partners in Europe, while Vietnam is the largest trade partner of Italy in ASEAN, with two-way trade having increased fivefold to approximately US$5 billion in the last three years.

At the workshop. (Photo: VN+)

According to the ambassador, the Vietnamese and Italian economies are not competitive but are complementary and interactive. In addition, the Vietnam-EU Free Trade Agreement (EVFTA), will produce direct and positive impacts on the economies of both countries once it comes into force. These factors have created favorable conditions for the two sides’ enterprises to further develop their business and investment relations. The Vietnamese Government is implementing a number of policies to improve national competitiveness, restructure the economy, and transform the growth model, focusing on the restructuring of public investment, state-owned enterprises, and the financial-banking systems.

Vietnam is determined to create a business climate of equality and healthy competition for companies, he added.

Participants at the workshop expressed their high appreciation for the Vietnamese economy, whilst actively discussing business and investment opportunities between the two countries’ enterprises, as well as ways to make sustainable investments in Vietnam.

Stefano Balsamo, the founding president of the Diplomatia association and vice president of JP Morgan Chase, stated that he was very impressed by the hospitality and friendliness of the Vietnamese people during his trip to the country in the past.

The consumption rate of the Vietnamese has increase in an amazing manner, he said, affirming that Vietnam offers a lot of favourable factors for foreign companies, including Italian firms, to do business and make investments.

Vice Chairman of the Piaggio Group, Matteo Colaninno, addressing the event. (Photo: VN+)

Vice Chairman of the Piaggio Group, Matteo Colaninno, shared with the Italian enterprises about Piaggio’s experience and attainments in the process of its business operations in Vietnam. He hailed Vietnam as a nation that always welcomes foreign direction investment (FDI) flows and is capable of dealing with administrative procedures in a rapid and convenient fashion.

Vietnam is a young and vibrant country with an abundant workforce and the maintenance of a relatively high growth rate, Colaninno said, affirming Piaggio’s investment in Vietnam has been included in the group’s long-term strategy.

He stressed that Vietnam is an ideal market for Piaggio to make investments and a bridge that helps to connect the group’s products with Southeast Asia as well as the whole Asia.