Vietnam Emerges as Promising Gateway for Italian Businesses in Southeast Asia

Vietnam is emerging as one of Asia’s most dynamic markets, serving as a promising gateway for Italian companies seeking to expand their presence in Southeast Asia and the wider Asia-Pacific region. Representatives from numerous businesses in Turin and the Piemonte region have identified Vietnam as a key opportunity. Vietnamese Ambassador to Italy Nguyen Phuong Anh highlighted the strong momentum in bilateral ties, noting that the relationship's depth extends beyond trade, investment, and economic growth figures. Two-way trade between Vietnam and Italy has neared $8 billion, with Italy remaining Vietnam’s third-largest trading partner within the European Union. With its deep-water ports, strategic location on international shipping routes, and a growing production network, Vietnam is well-positioned to leverage its maritime economy as a significant growth engine and enhance the global competitiveness of its goods. In the power sector, new momentum is expected from an increase in the share of surplus electricity that can be sold, from 20% to 50%, coupled with further decentralization of administrative procedures. Vietnam's agro-forestry-fishery exports in August were estimated at $6.47 billion, a 3.5% decrease from the previous month but a 3.6% increase year-on-year. In tourism, under a high-growth scenario for 2027–2030, international arrivals are projected to rise 15–18% annually, reaching 45–50 million, with domestic tourism hitting around 160 million trips and total tourism revenue projected at $80–90 billion. In manufacturing, ready-built factories attracted 73% of new manufacturing FDI in northern Vietnam over the past two quarters. Foreign investment continued to surge in the region's industrial hubs during the first eight months of 2026, indicating a growing demand for premises that can be quickly operational. Vietnam currently has 223 investment projects in Cambodia with a total registered capital of nearly $3.4 billion. Vietnamese companies operate in sectors including agriculture, finance and banking, telecommunications, aviation, processing, trade, and services. Source: VietnamPlus English