PM Dung made the commitment while receiving Italian Minister of Economic Development Claudio Scajola, who is leading a delegation of businesspeople from 170 companies to explore investment opportunities in Vietnam .

“Developing economic and investment relations with Vietnam will help Italian businesses expand investment activities in the Association of Southeast Asian Nations (ASEAN) member countries”, he said.

The government leader said Vietnam and Italy have enjoyed good political and diplomatic ties, but their economic, trade and investment relations have yet to meet the desire of both countries, saying that Italy currently ranks 31 among 80 countries and territories investing in Vietnam .

Minister Scajola said this is the biggest business delegation going abroad since PM Berlusconi took office. He said Italy will open a chamber of commerce in Vietnam and sign two investment contracts worth 27 million USD in garment-textile and pharmaceutical production.

A number of activities designed to boost the bilateral cooperation will be held within the framework of the visit, including the Vietnam-Italy Business Forum and the signing of deals between the Italian Institute for Foreign Trade and the Vietnam Chamber of Commerce and Industry, and between Vietnam’s Foreign Investment Promotion Agency and the Italian Investment Promotion Unit.

During his four-day visit beginning Nov. 4, the Italian minister attended the inauguration of a Vespa motorbike factory which employs 500 local workers.