VCCI Chairman Pham Tan Cong speaks at the Czech-Vietnam Business Forum (Photo: Truong Dang)

The event highlighted the shared commitment to promoting comprehensive cooperation in many areas such as science, technology, infrastructure and industry, while demonstrating mutual trust between the two highly open economies.

Speaking at the forum, Czech Minister of Finance Zbynek Stanjura affirmed that Vietnam is the Czech Republic's most important trade partner in ASEAN. Bilateral trade turnover exceeded the 4 billion USD mark last year and continues to record impressive growth.

Among the outstanding cooperation projects, the most notable is the large investment by the car company Skoda Auto - currently cooperating with Thanh Cong Group to operate a manufacturing plant in Quang Ninh. The factory has been officially put into operation since March this year and is expected to help Skoda expand its market to the entire Southeast Asian region.

In addition, Minister Stanjura also said that Sev.en Global Investments is interested in investing in the thermal power sector in Vietnam, while Elmich is developing kitchen equipment production in Ha Nam province.

The Vietnam - Czech Business Forum witnessed important agreements signed between businesses of the two countries (Photo: Truong Dang)

The Vietnamese community in the Czech Republic - the largest in the European Union - was highly appreciated by Minister Stanjura for its role as a cultural and economic bridge between the two countries, as well as a clear demonstration of successful integration and strong entrepreneurial spirit.

The business delegation accompanying the Minister included representatives from the fields of defense, information technology, financial technology, legal services and export finance. All expected to seek new cooperation opportunities and implement potential joint projects.

An important highlight of the program was the signing of a cooperation agreement between the leading Czech cybersecurity company - Whalebone - and a Vietnamese partner. This is considered a step demonstrating the shift of cooperation to high value-added fields such as digital technology and cybersecurity.

On the Vietnamese side, Deputy Minister of Finance Tran Quoc Phuong affirmed that the relationship between the two countries is entering a period of positive development, especially after officially upgrading to a strategic partnership.

The Czech Republic currently has 42 investment projects in Vietnam with a total registered capital of about 91 million USD, mainly in the mining and processing sector. In contrast, Vietnam also has 4 investment projects in the Czech Republic with a total registered capital of 1.5 million USD, focusing on trade, services and information technology. Although the numbers are still modest, the Deputy Minister assessed that this is an important initial step in the bilateral investment relationship.

Leaders of the two countries assessed this as an important first step in the bilateral investment relationship (Photo: Truong Dang)

At the forum, Deputy Minister Tran Quoc Phuong emphasized that this was an important opportunity for the two sides to discuss and find solutions to strengthen financial cooperation. He expected to hear more opinions from Minister Stanjura as well as the business communities of the two countries on areas such as public finance management, capital market development, financial technology (FinTech) and green finance for sustainable transformation.

In his welcoming speech, Mr. Pham Tan Cong - Chairman of the Vietnam Chamber of Commerce and Industry (VCCI) - expressed his appreciation for the long-standing friendship between the two countries since 1950 and the important milestone when Prime Minister Pham Minh Chinh visited Prague, officially upgrading the relationship to a strategic partnership. He emphasized that bilateral trade turnover in 2024 has reached more than 2 billion USD and there is still a lot of potential for growth in the future.

Mr. Pham Tan Cong affirmed that Vietnam is committed to deeply integrating into the global economy with 17 free trade agreements in effect, covering nearly 90% of global GDP. With a stable political system, abundant labor force and increasingly improved infrastructure, Vietnam is becoming a strategic investment destination in the eyes of international corporations.

The VCCI Chairman also proposed expanding cooperation in key areas such as industry and transportation, renewable energy, environment, high-tech agriculture, food technology, as well as promoting joint research on artificial intelligence, biotechnology and information technology. In addition, he emphasized the role of education and vocational training in improving human resources capacity for bilateral economic cooperation.

This Vietnam – Czech Republic Business Forum has become an important platform for the two countries to strengthen economic relations, expand investment and trade cooperation, and clearly demonstrate their determination to build a sustainable strategic partnership that adapts to the volatile global context.