Vietnam-Czech Republic Business Forum Held in Hanoi

A Vietnam-Czech Republic Business Forum that took place in Hanoi on October 12 was an opportunity for the two countries to develop trade and investment ties, according to Vietnam Chamber of Commerce and Industry (VCCI).

 

As a co-organizer of the forum, Vietnam Chamber of Commerce and Industry Vice President Doan Duy Khuong said two-way trade between Vietnam and the Czech Republic rose from US$156 million in 2009 to US$205 million in 2010. 

However, bilateral trade growth failed to match the two countries’ potential, advantages and diplomatic ties, said Mr Khuong. 

He affirmed that Vietnam will act as a bridge helping businesses of the Czech Republic enter the ASEAN market and the Czech Republic will be a bridge to help Vietnamese businesses enter the European Union (EU) market. 

Visiting Minister of Industry and Trade of the Czech Republic Martin Kocourek said Vietnam has achieved impressive growth and the Czech Republic is an open market with potential for growth, so that the two governments need to facilitate the promotion of bilateral economic and trade cooperation. 

Pavel Kafka from the Confederation of Industry of the Czech Republic said that energy, food industry, construction, petrochemicals, machinery, chemicals, transport and clean water technology, medical equipment are fields that the Czech Republic is interested in. 

According to Vietnam’s Deputy Minister of Industry and Trade Ho Thi Kim Thoa, the Czech Republic now has 21 investment projects mainly focused on construction and kaolin in Vietnam with a combined investment capital of US$56 million.