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Opportunities to invest in Czech Republic, Poland and Hungary
The Vietnam Chamber of Commerce and Industry (VCCI) and three embassies of the Czech Republic, Poland and Hungary jointly held a seminar in the central city of Da Nang on June 4 to explore the opportunities for trade and investment co-operation in their markets.
At the seminar, Martin Vlastnik, first economic and trade secretary of the Embassy of the Czech Republic, Wojciech Gerwel, economic counselor of the Polish Embassy and Szabo Zoltan, trade counselor of the Hungarian Embassy introduced their potential, prospects, and opportunities for trade and investment co-operation as well as preferential policies for businesses. They analyzed the impact of the current financial crisis on bilateral relations with Vietnam and proposed measures to remedy problem.
Mr Zoltan said that Hungary and other countries are keen to co-operate with Vietnam because the country has a dynamic economic growth rate, many business opportunities, an attractive investment environment, a professional leadership and a stable society. Meanwhile Vietnamese businesses also have many opportunities to invest in Hungary which has low corporate income tax, and high labour productivity. In addition, Hungary is the gateway to a large and lucrative EU market of 500 million consumers. He added that businesses from the two countries should continue running implemented projects, adjust co-operative tools, minimize the negative impact of the financial crisis, seize opportunities and strengthen capacity to prepare for operating after the crisis ended.
Martin Vlastnik said that in recent years, trade and economic relations between the Czech Republic and Vietnam have maintained stable growth. Two-way trade turnover increased from US$92 million in 2006 to US$155 million in 2008. It is estimated to reach US$73.9 million by the end of the second quarter of this year. Vietnam exports garments, seafood, footwear and rubber to the Czech Republic. Currently, the Czech Republic has 9 completed ODA projects worth US$8 million and other 13 ongoing ODA projects capitalised at US$12.1 million in Vietnam.
This is the first time such a seminar has been held in Da Nang. It is under the framework of the Vietnam-EU Business Forum, which helps to strengthen trade and economic relations between Vietnam and the other three countries.
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