ICHAM Newsletter N.1/2015 (English)

Agreement ICHAM Etihad Alitalia (P.8) Mission Veneto Promozione in Hanoi & HCMC (P.4)

Former PM Enrico Letta visits Vietnam (P3) Seminar “Vietnam—Italy” (P.6) Mission Agrofood (P.7)

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Happy New Year of the Goat!

Dear Members and Friends, First of all I would like to thank you all for your support to ICHAM activities in 2014.

The year which just ended marks many significant activities undertaken by the Chamber to implement and consolidate trade relations between Italy and Vietnam, the promotion of Made-inItaly and Italian investments in Vietnam.

2014 was a very successful year for the relations between the two countries, especially with the visit to Vietnam of Italian Prime Minister Matteo Renzi, the first meeting of the Joint Economic Commission on occasion of the visit of State Secretary for Foreign Affairs and International Cooperation Sen. Benedetto della Vedova, and the opening of the Italian Consulate General in Ho Chi Minh City.

During 2014 we also organized a large number of business missions to Vietnam for Italian enterprises and missions to Italy for Vietnamese enterprises, in full compliance with the strategy to develop bilateral trade between the two countries. This has created a genuine shared interest between both countries in a broader and deeper cooperation.

Our success would not be possible without a constructive spirit and collaboration with the Italian Embassy in Vietnam, the Vietnamese Embassy in Italy, the Italian Consulate General in Ho Chi Minh City, Unioncamere Emilia Romagna, Centro Estero Piedmonte, Veneto Promotion, Promos Milano, Marchet Ancona and EVBN—EU Vietnam Business Network.

We hope to continue to have your support in 2015, which we believe will be another fruitful year full of challenges and successes; a year which will behold one of the world’s most expected event—EXPO 2015 to be held in Milan from 1 May to 31 October. I also wish that the EUVietnam Free Trade Agreement Negotiations will have a successful conclusion in this year .

I take this opportunity to wish you all a peaceful Year of the Goat full of success, health, happiness and prosperity.

Michele D’Ercole President

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Former Italian PM Letta visits Vietnam

“I encourage the Italian companies strengthen biteral

Mr. Enrico Letta (fifth from the right) with Italian Ambassador to Vietnam HE Lorenzo Angeloni, Consul General Carlotta Colli, Icham President Michele D'Ercole, ICE Director Bruna Santarelli, Eurocham Vice President Tomasso Andreatta and representatives of Italian business community in Vietnam.

cooperation between Vietnam and Italy”said the Former P.M

Ho Chi Minh City welcomes further cooperation with Italy in the fields of industry, science-technology, and education-training, said Le Thanh Liem, Vice Chairman of the People’s Committee of the southern economic hub.

He made the statement while receiving former Italian Prime Minister Enrico Letta on January 12. He stressed the importance of the opening of the Italian Consulate in the city, saying that it helps connect both sides cultural and socio-economic cooperation activities.

The official pledged to create favourable conditions for Italian businesses to learn about and invest in Ho Chi Minh City. Vietnamese businesses are looking forward to taking part in an Italian project which

aims to boost competitiveness for small - and medium-sized enterprises, he noted.

On his part, Enrico Letta emphasised the city’s economic development and position in Southeast Asia as well as in Asia in general, saying that southern economic hub is an important place for Italy to promote its investment in the region. He said he will call on Italian firms to expand their business network in the locality.

During his visit to Ho Chi Minh City, the former Italian prime minister toured well-known historical sites and met with the leaders of the Ho Chi Minh City National University to discuss bilateral cooperation in the education sector.

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Veneto Trade Mission in Vietnam In the framework of trade promotion programs, Unioncamere Veneto and the Veneto Region, in collaboration with Veneto Promozione and the Italian Chamber of Commerce in Vietnam (Icham) organized trade mission to Vietnam from 17 to 24 January, 2015.

B2B meetings were held at the meeting rooms (19th Jan in Ho Chi Minh City and 21st Jan in Hanoi).

20th and 23rd were days available for companies to make business visits agreed with the Vietnamese counterparts following the meetings of the previous day.

The mission focused mainly on sectors: Machinery, Construction and Building Materials, Environmental Equipment and Tecnology, Food Industry, Wood-working Te c h n o l o g y, M e t a l - w o r k i n g Technology - Equipment, Furniture.

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Vietnam Cultural Days in Rome A press conference introducing the Vietnam Cultural Days and Vietnam Cultural Space Exhibition in 2015 was held in Italy’s national museum—Il Vittoriano in the capital of Rome on January 12.

The Vietnam Cultural Space Exhibition featured unique of culture, art and tradition of Vietnam such as the Gong culture of the Central Highlands,

h a n d i c r a f t s , p o t t e r y, traditional Ao dai, musical accessories such as T’rưng, monochord, Vietnamese two chord fiddle…

Through films and documentaries, visitors have experienced lives of local people and 10 famous destinations in Vietnam as going sailing along Mekong River, watching sunrise on Ha Long Bay, visiting caves in Phong Nha- Ke Bang national park, My Son

From left: Vietnamese Ambassador to Italy Nguyen Hoang Long, Vietnamese Actress Truong Ngoc Anh , ICHAM Executive Director Pham Hoang Hai.

sanctuary, Hoi An ancient town….

During the week, many activities take place including a workshop on promotion of tourism, economy and cinema cooperation between Vietnam- Italy. Some movies, including Blind Knight, Don’t Burn, Living with History are projected to promote Vietnam’s image.

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Economic Seminar “Vietnam-Italy” Within the framework of Vietnam Cultural Days in Italy, the Vietnamese Embassy in Rome together with Confindustria and Unindustria held the economic seminar Vietnam-Italy on 14th January in Italy’s national museum—Il Vittoriano.

The seminar was led by the Vietnamese Ambassador to Italy H.E. Nguyen Hoang Long, aiming at discussing the opportunities of cooperation and investment in Vietnam for Italian enterprises, analyzing the results of the mission "Italy to Vietnam", which took place last November in Hanoi and Ho Chi Minh City, and finding how to help Italian enterprises expand business to the Asian market.

The event was attended by high profile speakers including: Riccardo Maria Monti – ICE President; Marta Leonori – Assessor of Productive Activities of Rome; Guido Fabiani – Assessor of Productive Activities of Lazio region; Dr. Attilio Tranquilli – Vice President of Unindustria, Union of Industrialists and Enterprises in Rome, Frosinone, Latina, Rieti and Viterbo; Dr. Daniel Kraus – Deputy General Director of Confidustria; and Pham Hoang Hai – Executive Director of ICHAM.

In his speech ―Vietnam – the new challlenge‖, Mr. Pham stressed that Vietnam aims to increase domestic consumption, with entrepreneurs who want a direct relation in the same way as in Italy, with a middle class that is growing rapidly and will be the future of nation.

Representatives of successful Italian companies in Asia were also present at the event, such as Piaggio, Gattinoni, Ariston Thermo, Alitalia Maintenance Systems S.p.a – AMS, etc.

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EVBN AGROFOOD TRADE MISSION Icham President Michele D'Ercole with representative of Togni S.p.a

14 companies from Italy, Belgium, Estonia, France, Lithuania, Spain, Portugal, Poland took part in the ―Agrofood Trade Mission‖ from 19th to 25th January in Hanoi and Ho Chi Minh City.

The event was organized by Eu - Vietnam Business Network (EVBN), project funded by EU. The main

sectors are: Gourmet & Fine Food, Food Products & Ingredients, Wine, Spirits & Beer, Tableware & Accessories, Equipment For Catering-BakeryConfectionery-Bar & Coffee. As one of EVBN’s five main partners, ICHAM supported the mission by finding potential partners for 3 companies: Togni s.p.a (Italy), Dirafrost (Belgium)

and Vieira De Castro (Portugal).

Besides B2B meetings, the European companies had opportunity to visit points of sales and join the food festival ―Le Bon Marche‖ for 2 days exhibition. The event was a good occasion for European companies to introduce products and know-how directly to Vietnamese counterparts.

ICHAM: Meeting with ADS Further to Memorandum of Understanding signed in December 2014 between Vietnam Design Associations (VDAS) and ICHAM, on 28th January a meeting was held at the headquarter of International Design & Art Center (ADS) in Ho Chi Minh City between Italian Consul General Carlotta Colli, Icham President Michele D'Ercole and ADS managers. The aim was to strengthen the cooperation in the area of sectors such as: interior design, fashion and foot-

wear to bring the creativities of Italian design to Vietnam. Furthermore, the topics of how to work together in the fields of training, education, know-how to develop a sustainable creative industry were also discussed during the meeting. The meeting has resulted in a positive feedback and a first concrete cooperation on occasion of a seminar on EXPO 2015 to be held in March in HCMC.

From right: Icham President Michele D'Ercole; Consul General Carlotta Colli and ADS representatives

Some ADS designs

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Etihad Alitalia—ICHAM Sponsorship Agreement General Manager Etihad Vietnam, Frederic Huynh Quan Dat & ICHAM President Michele D’Ercole

“ETIHAD – ALITALIA is one of ICHAM main sponsors and will become the “Official Airline”

A two-year agreement of sponsorship and cooperation was signed between Etihad Alitalia and ICHAM in a meeting on 5th Feb at Etihad office.

Accordingly ETIHAD – ALITALIA will become the airline of reference for ICHAM and the Italian business community thanks to its special promotional offers. This agreement also provides for a range of activities to promote Expo 2015 in Vietnam and encourage even more growth of the business relations between Italy and Vietnam.

During the month of January, the new strategic plan of Etihad Airways - ALITALIA announced that it will increase connections from Abu Dhabi to Milan Malpensa, Rome Fiumicino and new routes to Venice and Bologna.

ETIHAD – ALITALIA is one of ICHAM main sponsors and it will become the ―Official Airline‖.

Along with the strategic partnership of Etihad Airways Alitalia, we are proud to promote this partnership especially for members of Icham.

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Inauguration of LAGO Apartment LAGO Apartment / STORE SAIGON was inaugurated , this is the first Apartment LAGO STORE in Asia and the world. For the first time a point of sale LAGO is opened within an apartment offering an innovative experience both sales and purchase.

LAGO Apartment / STORE SAIGON is on the 31th floor of the tower V3 of Sunrise City, will be also the perfect container to convey the Italian character in the world, hosting events on the topic of Achievements of Italian. This event was attended by the Italian Ambassador Lorenzo Angeloni, Italian Consul General Carlotta Colli, ICE Director Bruna Santarelli, Icham President Michele D'Ercole and other representatives of Italian and Vietnamese enterprises. The LAGO entrusted the distribution of their products in Vietnam to Mr. Nguyen Quoc Khanh, who with the brand "bellavita" already distributes some prestigious Italian brands in Vietnam.

Italian Ambassador to Vietnam HE Lorenzo Angeloni, Consul General Carlotta Colli, Icham President Michele D'Ercole, ICE Director Bruna Santarelli

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ICHAM Press Clipping:

Vietnam attracts Italian investors This is an article published on 19 January 2015 to "Viet Nam Economic News" - a website update online all economic news of Vietnam in particular and the world in gereral. This interview is conducted with the precious collaboration of Michele D'Ercole - ICHAM President

(VEN) - In a talk with Vietnam Economic News’ Nguyen Huong, Italian Chamber of Commerce in Vietnam President Michele D’Ercole said that the presence of Italian businesses in Vietnam would increase in 2015 and the years to come.

VEN: What are your views on Italian investment in Vietnam in the recent period?

Mr. Michele: For the last five years Italian investment in Vietnam has grown in terms of both quality and quantity. Italian businesses in Vietnam are present in different sectors such as motorcycle, oil and gas, energy, information and telecommunications technology (ICT), machinery and equipment, food processing, coffee, logistics, financial and banking services.

Currently, over 50 Italian businesses are operational in Vietnam, including Piaggio, Eni, AristonThermo, Generali, Bonfiglioli, Datalogic, Perfetti Van Melle, Unicredit, BNP Paribas, IntesaSanpaolo, Pacorini, Danieli, Tenova, Microlys, Carvico Hung Yen Knitting and Dyeing, Esanastri, and i-Italy, with total capital of over US$300 million.

The feedback about Italian investment in Vietnam is very positive, as no Italian company in the country has terminated their operations. They have achieved very good production results and ensured high quality of their products. The geographical location that Vietnam has in Asia gives Italian businesses great opportunities to increase their sales in the Association of South East Asian Nations (ASEAN) market as well as all Asian countries. .......

The full article is available at: http://ven.vn/vietnam-attracts-italian-investors_t221c197n52599.aspx

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Lunar New Year Celebration at HCMC People’s Committee On occasion of the Lunar New Year, the People’s Committee of HCMC held a cordial meeting with representatives of consulates and foreign organizations in the City. The meeting took place on 10th February at the City Hall.

Good Luck, Thao!

Ms. Thao (third from the left) together with ICHAM President and team

ICHAM would like to thank the Office Manager of HCMC, Ms. Thao Nguyen, for her excellent work dedicated to the Chamber for the past 2 years.

Congrats on this milestone and best wishes for your new career in Italy!

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UPCOMING EVENTS

Annual General Meeting 3 March

18:00, 3/3/2015 HN: Sofitel Plaza, 1 Thanh Nien, Ba Dinh Dist.

HCMC: 15F, Landmark, 5B Ton Duc Thang, Dist.1

ICHAM & Members

A warm welcome to our new members:

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MARKET INFO

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VIETNAM: THE 2ND MOST ATTRACTIVE BUSINESS DESTINATION IN ASEAN According to the survey led by the U.S. Chamber of Commerce in Singapore, Vietnam seems to rank the second position among the most attractive destinations of the American investments directed in ASEAN member countries. While Indonesia keeps the first place, the reasons of Vietnam’s achievement can be substantially found in a reliable government and political system, low workforce costs, and in the availability of adequate spaces for plants and offices.

“Vietnam seems to rank the second position among the most attractive destinations of the American investments directed in ASEAN member countries after Indonesia”

According to the results, the majority of investors (66%) expects an increase in incomes and a general growth of enterprise within 2014, while an even larger part of them (82%) expects the same results within the end of 2015. That sort of confidence is clearly led in part by the changes occurred in Vietnam-U.S. bilateral relations, which particularly from 2013 have started a sudden but steady economic approach.

investors expecting an increase in profits for the next five years.

In wider terms, the survey underscores the great confidence the U.S. market has about the Southeast area, seeing the completing of economic and commercial cohesion, forecasted for the year 2015 with the establishment of the ASEAN Economic Community, and the effects the ratification of TPP (Trans Pacific Partnership) would Yet, what has become the very be able to bring in the pathway of ―pivot‖ of American interests is the the two markets’ approach.

ASEAN region as a whole, and it counts now 90% the percentage of

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VIETNAM KEY BUSINESS SECTORS

Along with political and economic integration, Vietnam is experiencing a growing alignment with the ASEAN’s regional industrial trends.

As for the other countries of Mekong area, Vietnam too has become one of the main destinations of the shifting of international FDI from China to the Southeast Asia.

In particular, Vietnam emerged as an important electronics exporter, with E&E (electrical and electronic) overtaking coffee, textiles and rice. Since the largest part of population is dominated by young people, local electronic market is currently far from saturation, and the commerce opportunities continue to increase.

A similar increase in production has been registered for textiles and medical devices: in the first case, Vietnam is willing to increase sector investments by USD 25 billion within 2020, while in the second case the greying process globally starting in regional population seems to predict a growth in ASEAN medical devices market.

"“With

a population largely made up of young people, the electronics market is far from saturated, allowing growth of investment possibilities"