Czech Republic wants to promote investment cooperation with Vietnam

Czech Republic wants to promote investment cooperation with Vietnam

Deputy Minister of Industry and Trade Vladimir Bartl appreciated Vietnam as a destination for foreign investment

This is the speech of Deputy Minister of Industry and Trade of the Czech Republic, Mr. Vladimir Bartl at the Czech-Vietnam Business Conference recently held in Hanoi.

According to Deputy Minister, Vietnam is increasingly attracting investment from abroad, including the Czech Republic. The Czech Republic wishes to promote cooperation and investment between the two countries' businesses in the areas of environmental protection, mining technology, construction technology, chemicals, telecommunications, radar, industrial machinery and agriculture, especially biotechnology and nanotechnology.
As for VCCI, Dr. Doan Duy Khuong, Vice President of Vietnam Chamber of Commerce and Industry (VCCI), said that the trade and economic development between the two countries is based on three main features.
First, regarding bilateral relations, trade exchange between the two countries have a stable growth, strong development. Areas of potential investment cooperation between the Czech Republic and Vietnam are agricultural products, textiles, machinery and equipment, hospital medical equipment, energy and information technology.
"However, with data from the General Department of Customs. it can be seen that trade balance between the two countries are not balanced, Vietnam is exporting more to the Czech Republic. So in the future, we have to balance the trade balance. Balancing balance is important for economic development between Vietnam and the Czech Republic, "said Dr. Doan Khuong said.
Second, concerning multilateral relations, Vietnam is now an important gateway to trade in ASEAN, the market has over 600 million people. "Czech businesses will have to invest not only in the Vietnamese market with more than 90 million consumers but also in deepening access to the ASEAN market." Doan Khuong emphasized.
Meanwhile, the Czech Republic is the gateway to goods entering the European Union (EU). Especially when the Vietnam-EU Free Trade Agreement (EVFTA) comes into effect, it will facilitate Vietnamese products entering the European market.
Finally, cooperation between Vietnam and the Czech Republic is always given priority by the business community and the two governments. "The sixth session of the Intergovernmental Committee of Vietnam - Czech Republic is taking place in Hanoi, the presence of a large number of businesses of the two countries, especially the presence of Mr. Vladimir Bartl has shown the specialrelationship, said Dr. Doan Khuong.
Agreeing with VCCI's view, Deputy Minister Vladimir Bartl said: "We have also promoted the activities of Czech businesses in Vietnam." We agree with VCCI's comments on the unbalanced balance, the trade between the two countries and the potential for exploration between the two countries, so we can work together to promote this common goal, and we look forward to a long-term commercial relationship."
The cooperation between Vietnam and the Czech Republic has always been good and continues to grow strongly. According to data from the General Department of Vietnam Customs, by the end of 2017, the total import-export turnover between Vietnam and the Czech Republic reached more than 257 million USD (of which exports from Vietnam to Czech reached over 151 million USD , imports from the Czech Republic to Vietnam reached $ 106 million).

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