Deputy Minister Nguyen Thi Bich Ngoc receives Czech Minister of Industry and Trade (21/02/2023-13:45:00 PM)

Lauding the traditional friendship between Vietnam and the Czech Republic, Deputy Minister Ngoc said that the two countries' economic and trade cooperation is still modest, and not commensurate with their potential. There is much room for cooperation in the areas of the Czech Republic's strengths and Vietnam's demands such as supporting industry, processing and manufacturing, mechanical engineering and energy.

Vietnam has increasingly improved investment climate and received investment from 142 countries and territories around the world. The country is also named among the world's top 20 host economies for foreign direct investment (FDI).

The host added that both Vietnam and the Czech Republic are accelerating the integration process and developing supply chain, which is a basis for their businesses to speed up the implementation of project on producing cars between Thanh Cong Group and Skoda (Czech Republic) in Quang Ninh province.

"I believe that the project will become a "model" in investment cooperation between the two countries and will create momentum to encourage more Czech enterprises to seek for further investment in Vietnam", said Ngoc.

For his part, Jozef congratulated Vietnam on its important achievements in socio-economic development and increasing position in the region and international arena.

He emphasised that Vietnam is both a friend and an important partner of the Czech Republic, therefore many Czech enterprises hope Vietnam is a gateway for them to access other ASEAN member states.

Skoda investing in Quang Ning has affirmed not only to make Vietnam become their production center, but also to create positive effect on the local economy, Josef said.

The Czech Minister also noted that the Vietnamese community in the Czech Republic plays an important role in society and for the economy.

Agreeing with Josef's recommendations, the MPI deputy minister pledged that the MPI stands ready to sign a memorandum of understanding with the Czech Republic to enhance trade and investment activities between the two nations.

The ministry is committed to creating favourable conditions and removing difficulties for Czech enterprises to effectively do business on the basis of foreign investors' successes are Vietnam's successes.

The two sides reached consencus to intensify the bilateral relations in a more substantive manner and speed up the implementation of joint project, preparing for the visit of Czech Prime Minister to Vietnam that is scheduled in April 2023./.