Vietnam, with its open and large consumer market, is an ideal destination for investment, said Jana Ackermann, a representative from Euro-Vietnam Business Networking (EVBN) at a seminar in Prague on September 22.

The seminar aimed to encourage trade and investment cooperation between Czech and Vietnamese businesses.

Hoang Thuy Duong, Minister Counsellor of the Vietnamese Embassy in the Czech Republic, said economic cooperation between Vietnam and the Czech Republic has been developing strongly in recent times, with two-way trade doubling over the past 5 years hitting US$546 million last year.

However, the results do not match the two nations' full potential, Duong said, adding the Czech Republic has only a mere 30 projects in Vietnam with a modest capitalisation, focusing on crystal glass and electrical equipment manufacturing, beer brewing, food processing, construction materials and mining.

Commercial counsellor Nguyen Thang Long said Vietnam is keen on importing machinery, equipment and hi-tech products from the Czech Republic as well as tools, materials and other products for domestic production and consumption.

The country is looking for Czech businesses to form joint ventures with Vietnamese partners in producing and supplying products in Vietnam or exporting to third countries.

Long revealed the two countries and governments have shown strong determination to boost trade cooperation. The government of the Czech Republic is preparing to cooperate on a wide array of projects with Vietnam, he said.

By VOVNEWS

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