More Opportunities for Businesses of Vietnam and Czech

Czech business delegation to Vietnam included 15 enterprises, operating mainly in areas such as the distribution of cosmetics and chemicals used in agriculture, disinfection products, insecticides and animal products, medical sterilisation; insurance; production of metal frames for automobile, automotive interior and exterior; production and distribution of functional foods, products used in the cosmetic industry.

 

According to VCCI Vice President Doan Duy Khuong, in the integration process, in addition to bilateral programmes, Vietnam is geared towards multilateral cooperation programmes such as the AEC in 2015, RCEP, TPP, etc and especially Vietnam- EU FTA, including the Czech Republic, which not only has traditional relationship with Vietnam but also is a member of the European Union. Therefore, the friendly relationship between Vietnam and Czech always gets the attention of the leaders of the two countries.

 

The statistics show that, in recent years, economic and trade relations between Vietnam and the Czech Republic have enjoyed stable growth, the total trade turnover between the two countries averaged approximately US$295 million.

 

The main export commodities of the Czech Republic in Vietnam are machinery, equipment, tools, spare parts, computers, electronic products and components, and chemicals. Vietnam exports to Czech Republic mainly garments, footwear of all kinds, machinery, chemicals, machinery, tools and spare parts.

 

As of March 2015, Czech had 36 projects with a total registered capital of US$91.71 million, ranking 42 out of 101 countries and territories investing in Vietnam, focusing on the crystal glass, beer, electric equipment, processing, kaolin, building materials. The largest project of Czech in Vietnam is the US$ 35.1 million kaolin factory of Quang Binh-Bohemia kaolin project which has been in operation since October 2010. Vietnam now has 4 registered investment projects in the Czech Republic, totalling US$5.3 million, focusing on real estate and building materials.

 

According to Dr Khuong, currently, the Government of Vietnam is continuing to promote institutional reform and intensive investment in order to meet the optimal technical infrastructure of the market economy in the process of economic integration, creating open and transparent business environment.

 

"Certainly Vietnam will be an effective partner of the Czech Republic not only in bilateral relations but also in multilateral relations as in AEC, RCEP (ASEAN +6), TPP, " Dr Khuong said.

 

"I hope that the two sides will now take advantage of the opportunity and find possible strategic cooperation areas in coming phases. VCCI will always be working together with Czech partners, namely the Czech Chamber of Commerce, to support businesses of the two countries to initiate contacts as well as forward inquiries and suggestions from businesses to the two Governments, " added Dr Khuong.

 

According to Mr Bořivoj Minar, Vice President of the Chamber of Commerce of the Czech Republic, the Czech Republic is now very keen to work with Vietnam enterprises as well as invest in Vietnam. Mr Bořivoj Minar said that the two sides can cooperate in import and export of pharmaceutical products, assembly parts, mining equipment, spare parts and aircraft technology.

 

Senate President Milan Stech said that the Czech Republic will bring to Vietnam the experience and advanced technology in mechanical manufacturing, energy, transportation, health and wish to offer big projects for modern mechanical engineering. He hoped business communities of the two countries will seize the opportunity to forge investment partnerships.