After 65 years, the friendship and multifaceted cooperation ties between Vietnam and the Czech Republic and between Vietnam and the Slovak Republic have been constantly strengthened and developed extensively and effectively. The singing of many cooperation documents has laid the foundation for developing long-term sustainable partnerships, especially between Vietnam and Slovakia.
In the world, there are very few fine bilateral ties as long as between Vietnam and Slovakia. Up to 6,000 Vietnamese people have been studying in Slovakia and many of them have decided to live and work there. They started with small shops or small businesses but they are now very successful.
Vietnam and Slovakia have lots of opportunities to develop bilateral cooperation in both width and in depth, not only in economic field but also in many other aspects.
Trade surplus for Vietnam
Slovak Republic is also the second largest trade partner of Vietnam in Central and Eastern Europe. The Ministry of Industry and Trade of Vietnam said Vietnam - Slovakia trade turnover was US$309 million in the first nine months of 2013, of which Vietnam earned US$289 million from exports and spent US$20 million on imports from this market.
This shows that the two-way trade is incommensurate with the two countries’ cooperation relations as well as their potential. Vietnam is enjoying a surplus in trade with Slovakia. Slovakia needs further efforts to send its goods into the Vietnamese market.
The FTA, expected to be signed soon, will be leveraged trade and investment exchanges as tariff barriers are removed. The business communities of the two countries should make good use of this opportunity to promote trade.
Vietnam is a very important partner of Slovakia in Southeast Asia and East Asia as well. Currently, Slovakia is an EU member while Vietnam is also an active ASEAN member. With an open door policy and flexible economic mechanism, Vietnam can serve as a bridge and good destination for Slovakian goods, not only to penetrate into Vietnam but also make inroads into ASEAN region. For its part, Slovakia is also an important partner and a gateway for Vietnamese goods to enter the EU and Europe.
Unsatisfactory investment
The Ministry of Planning and Investment said Slovakia had only five investment projects worth US$235 million in Vietnam as of the end of 2014, ranking 31st out of 101 countries and territories investing in Vietnam.
In January 2013, a Slovakian investor invested US$45 million to build a 120-ha industrial park. A beer plant, costing EUR86 million, has been located in this industrial park. This will become the largest Slovak beer producer in Asia.
In fact, more Slovakian businesses are currently interested in the Vietnamese market. They are seeking to invest in Vietnam in energy, infrastructure, information technology, nuclear energy and other fields.
It is hoped that the Government of Vietnam will facilitate Slovakian investors to do business in Vietnam while supporting local firms to invest in Slovakia.
M.X
Vietnamese
