Viet Nam, Czech Republic businesses seek partnerships

Businesses from Viet Nam and the Czech Republic gathered at a forum in Ha Noi yesterday to seek investment and co-operation opportunities.

The forum was held on the occasion of the official visit to Viet Nam by Czech Foreign Minister Lubomir Zaoralek.

Vice President of the Viet Nam Chamber of Commerce and Industry (VCCI) Doan Duy Khuong said, with its potential for dynamic economic development and young, competitive labour force, Viet Nam would be an effective partner for Czech businesses.

Viet Nam would continue speeding up institutional reform and creating a more open and transparent environment to help facilitate the trade and investment activities of businesses, he said.

VCCI would spare no efforts to support the businesses of the two countries in seeking and developing trade and investment opportunities, he said.

The Czech Foreign Minister said Viet Nam offered many opportunities for Czech investors as it boasted a developing market of more than 90 million people and abundant natural resources.

Viet Nam had become an active member of the ASEAN community, and it was expected that the country would serve as a bridge to help the Czech Republic penetrate the ASEAN market more deeply, Zaoralek said.

He added that the two countries' economic relations had seen constant development, but the bilateral trade turnover still failed to meet its potential.

Bilateral trade turnover between the two countries reached nearly US$295 million last year, a year-on-year increase of 20 per cent. The figure stood at $165 million in the first half of 2015.

Viet Nam mainly shipped footwear, seafood, textiles-garments and chemical products to the Czech Republic.

The Czech Republic exported to Viet Nam energy products, machinery, mechanical items, automobiles and health care items.

Vice Chairman of the Confederation of Industry and Transport of the Czech Republic Stanislav Kazecky said his country wished to increase co-operation with Vietnamese businesses, particularly in the fields of energy, automobile manufacture, waste water treatment, healthcare and petrochemistry.

He said there was growing interest in the Vietnamese market amongst Czech businesses with a view to investing there.

A tourism and economic forum held during the official visit to the Czech Republic in May by Vietnamese President Truong Tan Sang attracted hundreds of leading Czech exporters and businesses seeking investment opportunities in Viet Nam, he said.

A similar forum was also held for businesses of the two countries in HCM City on Thursday.

Director of VCCI-HCM City Vo Tan Thanh said Viet Nam and the Czech Republic would strive to achieve $1 billion in bilateral trade in the near future.

He noted that the Czech Republic was among Viet Nam's strategic markets in 2010-20, while Viet Nam was listed as one of the European country's top 12 potential markets.

Apart from the traditional sectors, the two countries were also actively working to accelerate co-operation in other fields such as education and training, labour and services.

Czech investors are running 48 projects worth more than $100 million in Viet Nam. The Czech Republic ranks 44th out of 105 countries and territories investing in Viet Nam


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