MILAN, Jun 7 (Class Editori) -- Adapting the product to local requirements and testing new markets is the key to the success of Italian companies in Vietnam, which sensibly differs from the approach adopted back in 2000, when their strategy involved the delocalization of the production sites , to be shifted on their own markets.
Italy sees a great potential in Vietnam. In fact, their number sensibly increased, passing from 76 companies in 2015 to the current 99, which mainly operate in the infrastructural, textile, counseling and mechanical sectors. This favourable situation was highlighted by the presentation at the third Italy-ASEAN High Level Economic Dialogue in Hanoi of the book "Un laboratorio di successo. Le imprese italiane in Vietnam (the story of successful Italian companies in Vietnam)" edited by the Italy-ASEAN Association and chaired by Enrico Letta. The event was set up in collaboration with The European House – Ambrosetti and had among its guests the Vietnamese PM Nguyen Xuan Phuc and the Italian PM Giuseppe Conte.
Valerio Bordonaro, author of the book together with Romeo Orlandi, explained that the most important indicator is the high level of satisfaction reported by Italian entrepreneurs in Vietnam and their confidence towards the future. As for the companies themselves, they expressed their struggle to communicate efficiently, in particular due to linguistic and cultural differences and also find hard to seek local management figures.
Regarding government policies, despite the difficulties experiencing when communicating with regulators and authorities, companies have established in a country which is still meeting the priorities provided by five-year plans, therefore planning is guaranteed.
Spearheads of the Italian presence at the event are Piaggio, Ariston and Eni, the first two serving as example of the qualitative analysis performed by the Italy-ASEAN Foundation.
The production of Piaggio mainly occurs in Vietnam. Anyway, the main market in the area is Indonesia. The two countries are members of ASEAN, which aims at the creation of an open market on the model of the European Union and whose additional cumulative GDP is expected to reach 1,500 billion dollars by 2024.
As for Ariston Therm, the company demonstrated its adaptive nature towards the local culture by marketing a small-sized boiler which is capable of warming up water up to 2/3 degrees and therefore is the ideal solution in a market where prices are lower and, due to the climate conditions of the country, consumers have different needs.
(Source:Class Editori)
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