Many Czech firms are looking for investment opportunities in Viet Nam and Viet Nam could do more to show that it is looking to do business with them, the Czech Republic’s Deputy Minister of Industry and Trade Vladimir Bartl has said.

Speaking at a conference in HCM City yesterday attended by Czech business delegations seeking customers and partners in Viet Nam, he said the Czech Republic has invested US$90 million in 36 projects in Viet Nam.

Viet Nam and the Czech Republic have been partners for nearly 70 years, and his country ranks Viet Nam among its most important business partners in Asia and ASEAN, he said.

But more can be done to reach their full bilateral trade potential, he said.

Czech businesses can invest in fields such as infrastructure, energy, insurance and environmental protection, he said.

“We are also very competent in city planning, transport, public transport and traffic control. Those are the references we have in many countries, and we can bring that to your region.”

The Vietnamese Government and businesses need to give a clearer signal that they are looking for investment and business opportunities, he said.

"The Vietnamese Government should continue to create a good business environment and strive to wrap up the EU-Viet Nam Free Trade Agreement as soon as possible," he said.

Vo Tan Thanh, deputy chairman of the Viet Nam Chamber of Commerce and Industry, invited more Czech businesses to invest and do business in Viet Nam, especially HCM City, adding that Vietnamese firms should be more pro-active and network with their Czech counterparts.

Statistics from the General Department of Customs revealed that bilateral trade turnover reached more than $257 million in 2017, representing a modest yearly increase of 3 per cent. Of the sum, Viet Nam exported $151 million worth to the Czech while its imports hit $106 million. — VNS