“Potential for Vietnam-Slovakia cooperation is great but achievements in economic cooperation, trade, import-export value remain low, incompatible with potential’, said Prime Minister Robert Fico of Slovakia at recent Vietnam-Slovakia Business Forum sponsored by Vietnam Chamber of Commerce and Industry (VCCI) and SARIO (Agency for development of investment and trade of Slovakia) on the occasion of the official visit of Slovakian Prime Minister to Vietnam.
Accompanying the Prime Minister are some 20 businesses engaging in such areas as petrochemistry, energy (hydro and nuclear power), forestry, IT, applied technology, micro-electronics, applied system, finance, banking, investment, telecommunication, television and transport.
Speaking at the forum, Deputy Prime Minister Vuong Dinh Hue said that the bilateral relations are better than ever. In economic field, there is no direct competition; core products highly complement each other.
In recent years, bilateral trade relations have increased but remain below potential. There is only one Vietnamese business investing in Slovakia and few Slovakian businesses investing in Vietnam.
“Slovakian businesses should invest more in Vietnam. With the recent establishment of ASEAN Economic Community, Slovakian businesses will not only do business with Vietnam but also the whole ASEAN Community of over 650 million people”, the Deputy Prime Minister called on.
He also affirmed that Vietnam will create favourable conditions for Slovakian businesses and products investing in Vietnam, especially electronic equipment, pharmaceuticals, energy, IT and products of temperate zone. Vietnam wants Slovakia to import more Vietnamese products such as garment, footwear, tropical products from agriculture, forestry and fisheries, electronic products and parts.
Prime Minister Robert Fico said that he has advocated the promotion of bilateral relations in all fields at the earlier talk with Prime Minister Nguyen Xuan Phuc. He proposed that the two sides should be more open in granting visas so that businesses and people of the two countries can travel easily for tourism, business survey and cooperation. Vietnam-EU FTA should be soon implemented. Priority list of bilateral cooperation should be soon established to monitor the implementation. Two sides should also exchange high-level visits and businesses to promote trade value.
“We have proposed a special meeting of Slovakian government to discuss the relations with Vietnam where we can review all issues under implementation with Vietnam”, Mr Robert Fico asserted.
According to statistics, bilateral trade value in 2013 was US$407.3 million, with Vietnam trade surplus of US$391.7 million. In 2014, bilateral trade value declined to US$399.9 million and then nearly US$300 million in 2015 while Vietnam trade surplus was US$257 million. Main Vietnamese exports were footwear, garment and materials, leather, foodstuff, agricultural and aqua products, mobile phones, computers and parts, electronic parts etc. Vietnam imported chemicals and equipment.
As far as investment is concerned, in 2010 Slovakia started first FDI project in Vietnam with registered capital of US$100 million, ranking 36th among 92 countries and territories investing in Vietnam. By March 2015, the number increased to 5 projects with registered capital of US$235.47 million ranking 33rd among 101 countries and territories investing in Vietnam. The projects include an office-hotel complex in Ho Chi Minh City, Lac Thinh industrial project in Hoa Binh with an area of 120 hectares and investment capital of over US$45 million with a brewery worth Euro86 million in the industrial zone.
Anh Mai
Vietnamese
