Vo Tan Thanh, Vice President of the Vietnam Chamber of Commerce and Industry, speaks at the event (Source: VNA) HCM City (VNA) – Vietnam and the Czech Republic have substantial potential forinvestment and trade cooperation in many spheres, heard a workshop in Ho ChiMinh City on April 13.
Vo Tan Thanh, VicePresident of the Vietnam Chamber of Commerce and Industry (VCCI), said bothVietnamese and Czech economies are growing with high rates, and deeply integratinginto the global economy, which has created many opportunities for bilateralcollaboration in economy, trade and investment.
The Czech Republic is one of Vietnam’s largest tradepartners in Central and Eastern Europe, with two-way trade exceeding 257million USD in 2017, of which Vietnam’s exports to the Czech Republic were over151 million USD.
In the first two monthsof 2018, export-import turnover between the two countries hit nearly 50 millionUSD, up 31.3 percent year-on-year, he said.
Vietnam’s major exportsto the Czech Republic include footwear, garments-textiles, mobile phones,electronic components, farm produce and aquatic products.
Meanwhile, thecountry mainly imports machines, equipment, chemicals, and mechanical,pharmaceuticals and crystal products from the Czech Republic.
By the end of February2018, the Czech Republic had invested in 36 projects in Vietnam with total registeredcapital of over 90 million USD, ranking 49th among 126 countries andterritories investing in Vietnam. Vietnamese enterprises have also invested infour projects worth some 4.5 million USD in the Czech Republic.
However, Thanh said,such outcomes have yet to reflect cooperation potential and strength of eachcountry, explaining that businesses of the two countries lack information aboutthe respective markets.
Vladimir Bartl, Deputy Ministerof Industry and Trade of the Czech Republic, said Czech businesses haveadvantages in energy, infrastructure construction, automation, and financial andinsurance services.
Additionally, the CzechRepublic has capacity and experience in urban development planning and publictransport operation which are of Vietnam’s priorities, he said.
The official stressedthat the Czech Republic has regarded Vietnam as an important partner and marketin its strategy to expand business in Asia.
Czech firms want tocooperate with Vietnamese partners in mechanical manufacturing, energy, cementand constructional material production, medical equipment supply, aviation andenvironmental protection, he said.
Vladimir Bartl said theenhancement of trade ties between Vietnam and the Czech Republic will help thetwo countries utilise their respective market while helping them expand marketshares in Europe and Asia.
Experts at the workshopsuggested intensifying connectivity between businesses of the two countries andpromoting trade and investment activities.
Businesses of each nationsalso should take the initiative in studying the respective markets to promptlygrasp investment and businesses opportunities, they said.-VNA
VNA
