Italy Pledges Support in Development of Vietnamese Garment and Footwear Industry

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November 9, 2015.

According to Italian President Sergio Mattarella, Vietnam is part of the top 10 emerging markets that Italy is prioritizing investment and trade with. Additionally, he says that there are a number of Italian businesses that are interested in long-term investment in Vietnam and have already launched several successful projects there. The Italian government is looking to keep this momentum and interest going by opening two technology centers in Vietnam that are focused on the garment and footwear industries. According to trade commissioner at the Italian Trade Commission, the centers will be completed in 2016 and be located at Ho Chi Minh City University of Technology and another leading university. Italy will share its industry’s machinery and technology while also sending Italian experts to help train the local Vietnamese workforce, all part of an effort to improve the performance of the Vietnamese garment and footwear sectors. The 15 Italian machines they send will help train the Vietnamese workers for both the Vietnamese and Italian apparel businesses. Vietnam is Italy’s fourth-largest trading partner in the EU and the development of this relationship will only serve to improve their amounts of bilateral trade, seeing a 17% increase in 2014.

Louie Nguyen, CFA is the CIO of San Diego-based Soledad Investment Management. Soledad invests qualified clients’ assets in markets around the world, including Vietnam.

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