HCMC – Vietnamese and Italian companies signed more than 10 memoranda of understanding (MoUs) on September 4 covering innovation, Industry 4.0, energy, infrastructure, finance, trade promotion and tourism.
The agreements were signed at the Vietnam–Italy Business Forum in HCMC, co-chaired by the Ministry of Finance, the Italian Trade Agency (ITA) and the General Confederation of Italian Industry (Confindustria).
The Ministry of Finance said the MoUs would open new cooperation opportunities and lay the groundwork for specific projects in the near future.
Italian investors have 162 projects in Vietnam with pledged capital of more than US$624 million, ranking 32nd among 151 foreign investors. Conversely, Vietnam has one project worth nearly US$700,000 in Italy.
Deputy Finance Minister Ho Sy Hung said there was vast room for further growth in economic and investment cooperation, adding that both sides should expand into digital, green and circular economies as well as energy transition.
To effectively tap this potential, businesses from both sides should expand cooperation in new areas such as the digital economy, green economy, circular economy, and energy transition.
Hung added that Vietnam was seeking Italy’s cooperation in renewable energy and the green economy to help the country achieve its 2050 net-zero target. He also urged Italy to push for the EU’s early ratification of the EU–Vietnam Investment Protection Agreement (EVIPA), which he said would provide a legal framework to boost cooperation and market access.
Italy is Vietnam’s third-largest trading partner in the European Union, with two-way trade reaching US$4.3 billion in the first seven months of 2025, up 5.1% from a year earlier. Vietnam’s exports to Italy totaled US$3.1 billion, while imports stood at US$1.2 billion.
