A seminar to exchange experience and promote cooperation between Vietnamese and Italian businesses was held here on Wednesday by the Vietnamese Ministry of Planning and Investment (MPI) and Italian embassy in Vietnam.

Cooperation between Vietnam and Italy has witnessed new development. The two sides have taken full advantages of each other's potential to boost trade and investment. However, the two- way trade turnover in recent years has not yet met both sides' potential, MPI Deputy Minister Dang Huy Dong said at the seminar.

According to Italian Ambassador to Vietnam Lorenzo Angeloni, there is an article in Italy's law relating to cooperation for development, including investment in joint ventures between Italy and Vietnam. Businessmen from both countries should better know about areas of cooperation in industries and public-private sectors. To encourage the Italian investors, Vietnam should provide them a favorable environment, Angeloni said.

Stefano Giovanelli, an Italian expert in investment, industrial policies and development of medium and small businesses, introduced the experience in developing industries of footwear, wooden-based, fashion, renewable energy, and nano technology in Italy's Toscany region, and requirements for cooperation from Vietnamese businesses in those areas. This is made as part of preparations before Toscany Governor's and Italian business delegation to Vietnam this November.

Italy had invested in 21 projects in Vietnam, worth 76 million Euros (111 million U.S. dollars), which will be completed in two or three years. Besides, there are other projects implemented in the framework of the joint governmental commissions, which are funded by Italy in the next three years, totaled 34.5 million Euros (50.4 million U.S. dollars), MPI reported.