The assistance will target the private sector in the coming time, the official was quoted by Thoi Bao Kinh Te Vietnam (Vietnam Economic Times) as saying.
In addition, an additional EUR10 million (US$12.4 million) will be injected in projects on water supply under an agreement reached by the two governments.
Italy will increase Official Development Assistance (ODA) for Vietnam to EUR30 million (US$37.2 million), Italian Deputy Minister of Foreign Affairs and International Cooperation Benedetto Della Vedova said.
Deputy Minister Benedetto Della Vedova led an Italian economic delegation to a forum for Italian-Vietnamese Businesses held in November with a view to seeking more cooperation opportunities in Vietnam in various fields.
At the event, he remarked that Vietnam’s favourable business climate represents a potential market for Italian enterprises.
According to the Vietnam Chamber for Commerce and Industry, trade between Vietnam and Italy has increased by 15-20 percent in recent years.
Between January and October this year, bilateral trade reached almost US$3.4 billion, with Vietnam’s exports valued at US$2.3 billion.
The two countries share a substantial potential in energy generation, construction material, tourism, pharmaceuticals and advanced technology, which should be utilised in order to meet the target of US$5 billion in trade.
Other News
- Japan gives Vietnam biggest-ever ODA package
- Japan gives Vietnam biggest-ever ODA package
- Japan provides US$422 million ODA loans to Vietnam
- Prime Minister calls for Metro No. 1 project to be completed by September
- 70% highway road in Vietnam built with Japan loans
- Vietnam should be cautious about environmental impact investment: JICA
- Japan’s ODA to Vietnam to focus on issues of global concerns from 2020: JICA
- Private sector investment finance – JICA’s tool to seek investment in infrastructure
- Vietnam tops priority of Japanese infrastructure investment
- Hanoi eager to quicken railway projects's pace
Trending
-
Hanoi determined to speed up Yen Xa Wastewater Treatment project
-
Vietnam news in brief - November 1
-
Hanoi specialty gets world billionaires' interest
-
Localizing idols: Vietnam’s shift from Hallyu to homegrown stars
-
Hanoi plans major upgrade for iHaNoi by 2026
-
Berlin Film Festival award-winning motion picture premieres in Vietnam
-
Love triangle drama opens Hanoi Open Stage Festival
-
National E-commerce Week, Vietnam Online Shopping Day 2024 set to kick off
-
Ngoc Khanh Lake walking space: A placed filled with history of Hanoi