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Dinh Vu


Last updated: Friday, October 19, 2018


Strengthening Cooperation between Vietnamese and Slovak Enterprises

Posted: Tuesday, December 05, 2017

A meeting between 25 Slovak enterprises in the fields of machinery and electric equipment production, meteorology, information technology, aviation, light technology, air conditioning, railway, agriculture, food industry, telecommunication, biotechnology, pharmaceuticals and petrochemical energy, and Vietnamese enterprises took place at the Vietnamese – Slovak Business Forum, which was co-organised by VCCI and Slovak Agency for Trade and Investment Development, Embassy of Slovakia to Hanoi.

According to Dr Doan Duy Khuong, Vice President of VCCI, the relationship between Vietnam and Slovakia has robustly developed; trade exchange between the two countries is growing stably in the spirit of constantly strengthening and expanding cooperation in the field of information and communication, which significantly contributes to the relationship development between the two governments and peoples.

“In the future, the two countries should take advantage of each other, for example, Slovakia needs consumer goods that Vietnam has strength in such as food, electronic information. Meanwhile, Vietnam needs technology that can be learned from Slovakia such as environmental treatment technology, modern technology in mechanical engineering and construction. These are the fields with great potential in the coming time,” added Dr Khuong.

According to the statistics by the European and Asian Market Department (Ministry of Industry and Trade), in 2016, the overall turnover of Vietnam-Slovakia two-way trade reached nearly U$449 million, a 52 per cent increase compared to 2015. In 10 months of 2017, import-export turnover between the two countries reached over U$630, up 79 per cent over the same period of last year.

Vietnam's main exports to Slovakia were agricultural products, food, footwear and textiles. Vietnam mainly imported from Slovakia wood products, transportation vehicles, machinery and equipment, glass products and medicines.

In terms of investment, by the end of October 2017, Slovakia had nine direct investment projects in Vietnam with a total registered capital of nearly US$247 million, ranking 36th out of 128 countries and territories which had direct investment in Vietnam. On the Vietnamese side, there was an investment project in Slovakia, namely FPT Slovakia Limited Liability Company of FPT Software Limited Company with the investment capital of US$447,000.

Despite that, the mentioned results have not met the great potential of the two countries. Dr Khuong expressed the hope that this forum would be a major opportunity for businesses from the two countries to meet, exchange and seek cooperation opportunities.

Particularly, Dr Khuong said the under the Vietnam – EU FTA, which was being reviewed and would take effect soon, Slovakia would be the most promising market for Vietnamese enterprises.

Deputy Prime Minister of Slovakia Mr Peter Plellegrini said that Vietnam was not only an important gateway to Southeast Asia but also a close friend of Slovakia. Slovakia not only cooperated in doing business, but also supported Vietnam in many aspects in the spirit of enhancing the long traditional relations between the two countries.

Mr Peter highlighted: “The success of EVFTA will open a new page in the relationship between the two countries, with growth expected to reach 20 per cent/year. Vietnam will be significantly important to Slovakia in the context of the increasing competitiveness. We are ready to support Vietnam to access the EU market.”

On the sidelines of the forum, a number of cooperation agreements between businesses of the two countries were signed, especially an MOU signed by the People’s Committee of Hanoi and Slovak Asseco company specialising in information technology industry.

Quynh Anh

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