The IBAS mission in Vietnam ended with interesting opportunities. There is no doubt that the delegation of Italian entrepreneurs in Vietnam led by the Undersecretary of International Trade Ivan Scalfarotto, between Hanoi and Ho-Chi-Minh City, was characterized by a concrete dialogue and laid the foundations for profitable commercial agreements.
This mission was also joined by IBAS Italian Broadcasting Advanced Solutions, the consortium bringing together the companies Aldena Telecomunicazioni, Cedeo.net, Eurotek, M-Three Satcom (division of Giglio Group) Media-Alliance, and Staer Sistemi.
In the last day Michele Magnifichi of M-Three, representing the consortium, has in particular met the leadership of Ho Chi Minh TV, a major broadcaster. With them interesting collaboration projects on production and management of audiovisual content, their possible distribution in Europe and creation of a technologically advanced TV production studio, as well as a training center. A broadcasting study in Vietnam and the area is also scheduled.
The Nova agency has compiled a report on the most significant stages of the mission to which IBAS has participated.
Among other things, the report points out that the Prime Minister of Vietnam in person, Nguyen Xuan Phu’c, received the delegation in Hanoi at the fourth session of the Joint Commission on Economic Cooperation. The delegation of entrepreneurs was also coordinated by Michele Scannavini, president of ICE, an agency for the promotion abroad and the internationalization of Italian companies, by Licia Mattioli, vice president for the internationalization of Confindustria, and by Guido Rosa, vice president for the internationalization of ABI, the Italian Banking Association. The Ministry of Trade, Confindustria, Ice and Abi organized the mission together with Unioncamere and the Conference of Regions. The Vietnamese premier called for further investments from Italy and suggested the activation of new direct air connections to promote trade and tourism; in addition, it called for a strengthening of trade in areas such as clean technologies, transport, infrastructure and industrial machinery.
Both countries, the Hanoi leader urged, should work together to implement the 2017-18 plan for strategic partnership, pursue political and defense dialogue and organize initiatives to celebrate the 45th anniversary of the opening of diplomatic relations. Finally, the Government of Vietnam counts on Italy’s help to speed up the signing of the free trade agreement with the European Union. Nguyen Xuan Phu’c encouraged Italian companies to invest and pledged to create favorable conditions for investments to be successful. Scalfarotto agreed on the need to fully exploit the great potential of both countries and to further develop bilateral cooperation by extending it to various fields. In his opinion, the free trade agreement with the EU would help the economy, trade and investment, also facilitating relations with Italy.
The Italy-Vietnam Business Forum registered the participation of 122 representatives from 53 companies, 6 industrial and trade associations and 4 banking institutions that were confronted with 200 Vietnamese entrepreneurs.
The investments in 2016 reached 360 million dollars, with 78 projects implemented. Italy is currently the eighth trade partner of Vietnam, the first in the European Union. Bilateral trade is growing: from 2006 to 2016 it went from 1.13 to 4.68 billion dollars. In the first eight months of 2017, trade amounted to $ 2.9 billion, an increase of nine percent compared to the same period last year. The two countries aim to reach six billion by 2018. Main Italian exports items to the Asian country include machinery and leather and leather products; followed by chemicals, textiles and clothing.
According to the latest estimates by the Vietnamese government, gross domestic product is expected to grow between 6.5 and 6.7 percent this year. In 2017 the consumer price index increase should be four percent; exports and imports should increase by seven and eight per cent, respectively, with a trade deficit of less than three per cent; the urban unemployment rate should not exceed four percent.
The International Monetary Fund (IMF), in its latest “World Economic Outlook” published in October, slightly adjusted the Vietnamese economy’s growth estimate for this year: 6.3 per cent, 0.2 per cent one hundred less than the April report, higher than the average, of 5.2 percent, expected for the Asean-5 group, also including Indonesia, Malaysia, the Philippines and Thailand, or the first five economies of the Association of Southeast Asia. The Washington-based organization has confirmed the forecast for next year, again at 6.3 percent.