On the morning of January 20 (local time) in Prague, Czech Republic, the Ministry of Industry and Trade of Vietnam and the Ministry of Industry and Trade of the Czech Republic jointly organized the Vietnam–Czech Business Forum.
The forum was one of the key events held within the framework of Prime Minister Phạm Minh Chính’s official visit to the Czech Republic, accompanied by his spouse and a high-level Vietnamese delegation, at the invitation of Czech Prime Minister Petr Fiala.
Strengthening Bilateral Cooperation
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In his opening remarks, Minister Nguyễn Hồng Diên expressed sincere appreciation to the Czech Ministry of Industry and Trade and his Czech counterparts for their close coordination and thoughtful preparation of the forum.
Minister Diên praised the Czech Republic’s economic achievements in recent years, recognizing the country as one of the fastest and most successful transforming economies in Central and Eastern Europe, and a leading innovation and technology hub in the European Union.
He noted that the Czech Republic has established itself as a center for advanced technology, engineering, and renewable energy, home to many world-renowned corporations and a dynamic startup ecosystem.
Vietnam – A Safe and Attractive Investment Destination
Minister Diên also introduced Vietnam’s robust economic growth, highlighting that Vietnam has consistently been recognized as one of the most dynamic economies in Asia, with GDP growth averaging 6.5–7% annually.
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Foreign direct investment (FDI): Over USD 500 billion accumulated, with an average annual growth rate above 7%.
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Trade performance: Over USD 420 billion in annual exports.
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Global rankings: 3rd largest economy in ASEAN, 32nd worldwide, Top 20 in global trade, and Top 15 in FDI attraction.
Vietnam also offers a young, skilled workforce, stable politics, and a market of over 100 million people, connected to a global network of more than 6 billion consumers through 17 bilateral and multilateral free trade agreements.
Expanding Trade and Investment Between Vietnam and the Czech Republic
The Czech Republic is currently Vietnam’s 10th largest trading partner and 13th largest investor in the EU. Conversely, Vietnam remains the Czech Republic’s most important partner in Southeast Asia.
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Bilateral trade in 2024 reached over USD 3.8 billion, up 31% year-on-year.
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Czech investment in Vietnam: 41 projects with over USD 90 million in registered capital.
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Vietnamese-Czech business community: Tens of millions of USD invested back into the Czech economy.
“These achievements are a testament to the 75-year-long friendship and cooperation between Vietnam and the Czech Republic,” Minister Diên emphasized.
Strengthening Strategic Partnership and New Cooperation Areas
Despite the achievements, Minister Diên noted that economic cooperation still falls short of both nations’ potential—especially as Vietnam and the Czech Republic have upgraded their ties to a Strategic Partnership.
In the context of global uncertainty and supply chain disruptions, he emphasized the importance of deeper cooperation in trade, industry, and energy transition, including renewable and nuclear energy, to strengthen both economies’ resilience.
Vietnam is accelerating industrial modernization and high-tech development—including semiconductors, AI, Big Data, IoT, and clean energy—while also focusing on strategic infrastructure such as expressways, high-speed railways, airports, and international financial hubs.
Vietnam needs USD 14–16 billion annually in energy investment from now to 2030 to sustain GDP growth targets of 8–10%, presenting significant opportunities for Czech investors in renewable and nuclear energy technologies.
Vietnam and Czech Republic: Trusted Partners for Sustainable Development
Minister Diên reaffirmed that the Government of Vietnam and the Ministry of Industry and Trade are committed to supporting Czech businesses in investing, manufacturing, and conducting sustainable business in Vietnam — stating, “Your success is our success.”
Likewise, he expressed hope that the Czech government will continue to facilitate Vietnamese and Czech-Vietnamese entrepreneurs to expand their operations and investments in the Czech Republic.
The Vietnam–Czech Business Forum attracted a large number of senior officials and business representatives from both countries, reinforcing a shared commitment to enhancing bilateral trade and investment relations in a practical, long-term, and mutually beneficial manner.