Octagona Srl/Events/Vietnam Day: free individual consultations
Vietnam Day: free individual consultations

Vietnam Day: free individual consultations

Are you a company associated with Confindustria Trento or consortium with Trentino Export?

Then you are invited to participate in Vietnam Day, a morning of free and individual consultancy meetings, organized by Confindustria Trento and Trentino Export in collaboration with Octagona, on February 14 in online mode, every 1 hour starting at 9.00.

 

The Vietnamese market it is certainly one of the most interesting and promising in Asia. Vietnam:

-covers one strategic location within ASEAN, central to all of South East Asia;

-it is Italy's first trading partner in ASEAN, while Italy is Vietnam's fourth partner in the EU. The commercial exchange between the two countries went from 3.8 billion dollars in 2018 to 4.7 billion dollars in 2021: the Made in Italy products most appreciated by Vietnam are machinery and equipment (262 million euros), products textiles and clothing (239 million euros), food and beverages (103 million euros);

-with 97 million inhabitants, is becoming a rapidly growing market for consumer products thanks to rising incomes and the inclination towards foreign products of an emerging middle class composed mainly of young people: 48% of the population is between 25 and 54 years old, and it is estimated that in 2050 the country will reach 120 million inhabitants;

-labor cost in Vietnam is about 50% that of China, with an average hourly rate of $2.99 compared to $6.50 per hour respectively, and about 40% as reported in Thailand and the Philippines;

Compared to other developing markets in the region, Vietnam is thus emerging as a clear leader in low-cost manufacturing and sourcing, with the country's manufacturing sector accounting for 25% of total GDP in 2021;

- over the years it has implemented important trade liberalization policies. The latest is the EU-Vietnam Free Trade Agreement (EVFTA), which entered into force on 1 August 2020, which the almost total elimination (99%) of customs duties between the EU and Vietnam, also on the main European export products: machinery, cars and chemical products.

 

To manage the Vietnamese market, the Association has partnered with Octagona Srl, a structure specialized in consultancy support for companies for expansion on foreign markets, with consolidated experience in the main Asean markets. Octagona will be able to help Trentino companies to expand their business in Vietnam, also thanks to yours direct presence in the country with its own headquarters and local staff.

 

Companies interested in booking a free one-on-one consultation confidential slot on Vietnam, are invited to contact the Internationalization Department (Dr. Nicolò Andreini, tel. 0461 360092; [email protected]), which remains available for information or clarifications.

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