Viet Nam needs Czech investment in energy, IT

16/11/2007 -- 8:15 PM

Ha Noi (VNA) – Viet Nam has called on the Czech Republic as well as the European Union to invest in energy, electricity, information technology, mechanical and electronic equipment and new technologies. Deputy Minister of Industry and Trade Do Huu Hao made the suggestion during his talks with Czech Minister of Industry and Trade Martin Riman in Ha Noi on November 16. Hao asked the Czech Republic to continue to assist Vietnamese businesses to invest directly in the European country. Stronger bilateral ties between Viet Nam and the Czech Republic will help boost relations between the Association of Southeast Asian Nations (ASEAN) and the European Union (EU), he said. The Czech minister said in reply that his government will finance already signed projects through Czech banks, and will offer more development aid to the Southeast Asian nation in the years to come. Vietnamese investors have joined their counterparts from other Asian nations in investment activities in the Czech Republic , he said, adding that the Vietnamese community in the Czech Republic has played an important role in promoting economic and trade ties between the two countries. Both sides affirmed their desires to raise bilateral trade value and promised to create favourable conditions for each other’s businesses to explore invest opportunities in all areas. The Czech Republic has to date invested 50 million USD in 13 projects, coming in at 40 th amongst 81 foreign investors operating in Viet Nam . During Prime Minister Nguyen Tan Dung’s visit in September, the two sides signed seven contracts worth 3.5 billion USD, including a 3 billion USD electricpower plant in southern Viet Nam . Two-way trade currently stands at close to 150 million USD, of which two-third comes from Vietnamese exports. As part of the Czech minister’s trip, 29 accompanying business representatives joined close to 100 Vietnamese peers in a Viet Nam-Czech Investment and Trade Forum in Ho Chi Minh City on November 15. The forum involved discussions on the investment environment and legal framework for commercial and service activities, and opportunities for cooperation.-Enditem
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