Italy provides $4.3 mln for Vietnamese business development

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Italy will sponsor a program worth US$4.3 million to develop Vietnam's garment, leather shoes and decoration wood industries, the United Nations Industrial Development Organization (UNIDO) said Friday.

Businesses in the three fields will be supported with investments in design technologies, product promotion, marketing campaigns and cost management systems.

The three-million-euro program will include the provision of training classes for the companies involved.

The three sectors are among Vietnam's leading exports, but businesses in these fields still depend mostly on foreign partners for materials and designs, UNIDO said.

Vietnam is the world's second largest footwear exporter after China and is ranked among the world's top ten exporters in textiles and apparel. It shipped more than $4 billion worth of footwear and $9 billion in textiles and apparel in 2009.

Statistics from the Vietnam Timber and Forest Products Association showed that Vietnam exported $2.74 billion worth of processed timber in the first ten months of 2010 alone.

Vietnam's exports to Italy reached $1 billion in 2009, mainly in the garment, footwear, furniture and seafood products sectors, according to figures from the Italian Chamber of Commerce in Vietnam.

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