Dezan Shira & Associates Introduces Opportunities in Vietnam to the Association of International CPAs of Italy
The Association of International CPAs of Italy (AICEC) recently visited Vietnam and Singapore to learn about opportunities in the ASEAN (Association of Southeast Asian Nations) region and discover how their clients could benefit by the rapid economic development of its 10 economies: Vietnam, Singapore, Indonesia, the Philippians, Thailand, Malaysia, Cambodia, Laos, Myanmar and Brunei.
The 80-strong delegation of CPAs was supported by the Italian Embassy, the Italian Trade Agency, and the Italian Chamber of Commerce in both Vietnam and Singapore, and co-organized by Dezan Shira & Associates’ Senior Consultant, Andrea Volpe.
Dezan Shira’s Managing Partner, Alberto Vettoretti, Vietnam Director, Filippo Bortoletti, and Senior Associate, Filippo Scaglia, spoke to the delegation and participated in esteemed panels in both Hanoi and Ho Chi Minh City. During the discussion they addressed opportunities in ASEAN and the fiscal and operational benefits of establishing a presence in Vietnam – not the least of which include preferential tax incentives, the current free trade agreement between Vietnam and the EU (EVFTA), and growing middle class.
Dezan Shira also contributed, along with Intesa Sanpaolo, to a publication by AICEC, CNDCE, and Fondazione Nazionale dei Commercialisti about doing business in Vietnam, Singapore, and Italy. You can find both the English and Italian version on Asia Briefing.
European Union Trade with South / Southeast Asia
European Union (EU) trade with South / Southeast Asia has continued to grow in recent years. The EU is ASEAN’s third largest trading partner after China and the US. In 2021, the EU imported EUR 136.3 billion worth of goods from the trading bloc while also serving as ASEAN’s largest investor with FDI stocks totaling EUR 313.6 billion.
Italian exports to Singapore in 2021 totaled US$ 2.6 billion, while the country imported just over US$ 639 million. From Vietnam, Italy imported US$ 4.17 billion and exported US$ 1.4 billion.