Investment
Hanoi workshop to investigate Czech market
The Hanoi Promotion Agency yesterday hosted a workshop in Hanoi to provide information on the Czech Republic for local firms who wish to access the European market.
Vietnam mostly ships footwear, clothing, seafood, industrial machinery and electronic devices to the European nation, while importing machinery and steel-made products. By mid-2016, there were 30 Czech investors in Vietnam who poured more than 170 million USD into local projects, making the Czech Republic the 40th largest out of 150 foreign investors in Vietnam. Two-way trade between the two countries is estimated at 1 billion USD.
However, barriers remain for made-in-Vietnam products to penetrate the Czech market, Tran Dinh Hiep from the Ministry of Trade and Industry said, citing the fact that most Vietnamese exports to the country face fierce competition from the EU, China, Thailand, Turkey and the Republic of Korea as Vietnamese goods are less competitive in pricing, design, and quality.
The Czech business community is finding solutions to allow more made-in-Vietnam goods to enter the market as well as for Vietnam to lure more foreign investment and technology transfer, he added. Meanwhile, Le Thi Nhan from Vietnam-based tour operator Haseco Travel said the Czech Embassy does not provide visa services in Vietnam so the company’s clients are forced to apply for visas through the French embassy.
A representative from the Czech Embassy said it acknowledged the problems and will introduce more support for Vietnamese travellers soon. He suggested that Vietnamese nationals who live in HCM City can also apply for Czech visas through the Embassy of Hungary.
