28/11/2014
Vietnam – one of Asia’s most dynamic economies: Italian analyst
Italy’s financial news website Firstonline recently posted a story by analyst Ciro Caliandro giving his evaluations of Vietnam’s economy as well as opportunities that Italian businesses have for investment in the country.
Vietnam – one of Asia’s most
dynamic economies: Italian analyst
Italy’s financial news website Firstonline recently
posted a story by analyst Ciro Caliandro giving his evaluations of Vietnam’s
economy as well as opportunities that Italian businesses have for investment in
the country.
Ciro
Caliandro wrote Vietnam has established itself as one of the most dynamic Asian
economy with gross domestic product growth rate at 5.4% in 2013.
He
said the country is a leading player in regional integration in Asia-Pacific
since it is now a member of the Association of Southeast Asian Nations (ASEAN),
the ASEAN Free Trade Area (AFTA), and the Asia-Pacific Economic Co-operation
(APEC) forum.
Vietnam,
deemed a competitive country in Asia, received about US$230 billion in foreign
direct investment between 2000 and 2013, the story said, highlighting such
advantages as good basic education, young workforce, low costs, and
well-managed industrial parks.
Ciro
Caliandro said most Italian businesses have so far invested in Vietnam’s energy
sector (oil and gas), infrastructure building, machinery, and fashion
industries. However, they could benefit from more incentives when pouring money
into construction and housing sectors as the urbanization process in the
country is happening fast.
Italy
currently ranks tenth among countries and territories exporting goods to
Vietnam. In 2013, it shipped EUR674 million (US$840.6 million) worth of
commodities to Vietnam, and the figure is expected to reach EUR1.4 billion in
2018.
The
European country is still only the 20th largest importer of Vietnamese goods
and services. The Southeast Asian country’s export revenue to Italy is forecast
to grow at an average pace of 16% from 2014 to 2018, the analyst said.
The
story was posted on the occasion of a visit from November 23-26 by Italian
Deputy Foreign Minister Benedetto della Vedova and 200 entrepreneurs seeking
investment opportunities in Vietnam.
(nhandan.org.vn)