Vietnam reserves industrial park for Emilia Romagna
Vietnam reserves industrial park for Emilia Romagna
Business News

Vietnam reserves industrial park for Emilia Romagna

The park is located in the region of Binh Duong, and is expected to be ready by the end of 2014

Within the big industrial park situated north of Ho Chi Minh, a new area, entirely dedicated to the small to medium enterprises from Emilia Romagna will be completed at the end of 2014. The realization of the park was decided upon one year ago with an agreement signed by the Region, Chambers' Union of Emilia Romagna and the Vietnamese Embassy.

The 300-hectare area represents an invite for the Italian region's enterprises to enhance their local investments. The most involved industry is that of mechanical equipment. However, the interest is strong towards fields of excellence in Emilia Romagna region, such as furniture, fashion, food and biomedical. "Vietnam needs to develop its manufacturing industry, through training and introduction of new technologies. Emilia Romagna seems the perfect match for this role", believes Bui Quang Vinh, the Vietnamese Minister of planning and investments.

These industries have a great potential in Vietnam. In fact, the country plans on allocating massive investments in the hospitality and touristic industry until year 2020. Also, "Vietnamese are young and willing to spend a medium-high budget for quality Made in Italy, recognizable for its design and creativity", states Ugo Girardi, President of the Emilia Romagna Chambers' Union. Rather than delocalization, the main idea of the industrial park is that of creating partnerships with Vietnamese resellers, for Italian companies interested in entering the local market.

Bonfiglioli is a company based in Emilia Romagna producing a complete range of gearmotors. They represent one of the pioneers in the Vietnamese industrial park, where in 2008 they invested ?13 million, including 170 direct employees. "We preferred Vietnam to China, because of its more stable political situation, its openness to foreign investment and relatively cheap and stable labour costs", declared Sonia Bonfiglioli, President of the Group. The park will concentrate the administration in one single centre, to make bureaucracy and paper work faster for the Emilia Romagna companies.

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