Czech enterprises strengthen presence

A Czech-Vietnamese business forum held on November 20 in Hanoi coincided with the visit of Miloš Vystrčil, President of the Senate of the Parliament of the Czech Republic, to Vietnam on November 18-22.

Vietnam is a gateway for Czech enterprises seeking to expand into Asia, Photo: Le Toan

“Vietnam remains a very appealing destination for investors, and Czech businesses feel this too. For 75 years, our relationship has been strong and enduring, far apart, yet always close,” said Vystrčil at the forum. “This year marks the 75th anniversary of Vietnam-Czech diplomatic relations. I hope that our countries can continue to maintain and further strengthen this enduring friendship.”

Vystrčil emphasised that the Czech Republic serves as a gateway for Vietnamese goods to enter the European market, while Vietnam plays an equally important role as a bridge for Czech enterprises seeking to expand into Asia.

The complementary strengths of the two countries, a well-developed industrial and technological base in the Czech Republic and a dynamic, fast-growing market in Vietnam, create broad opportunities for trade, investment, and knowledge exchange, particularly in energy, innovation, science and technology, and other high-potential sectors, he added.

Nguyen Anh Tuan, deputy director of the Foreign Investment Agency under the MoF, highlighted the long-standing and close nature of bilateral relations. The Czech Republic was among the first 10 countries worldwide to establish diplomatic ties with Vietnam, and one of the first EU members to sign the Vietnam-EU Free Trade Agreement.

“The Czech Republic is a leading partner for Vietnam in employment cooperation and economic engagement with Central and Eastern Europe, while Vietnam remains the Czech Republic’s top partner in economic, trade, and investment cooperation within ASEAN,” he noted.

Despite decades of solid relations, current bilateral investment remains below the potential achievable between the two countries. Both sides are encouraged to take proactive measures to deepen collaboration in sectors where each enjoys a competitive advantage.

During the forum, Czech enterprises also expressed interest in exploring deeper partnerships with Vietnamese counterparts, signalling a growing appetite for collaboration beyond traditional trade channels.

Nguyen Manh Tung, CEO and Founder of Czech Viet, a company connecting businesses and organisations, highlighted the growing interest of Czech companies in the Vietnamese market. Many are seeking partners, investment opportunities, and avenues for business expansion, reflecting a broad and increasingly active space for bilateral collaboration.

“Being of Vietnamese origin, I see the potential for stronger economic and trade ties between our two countries,” Tung said. “Our work focuses on facilitating connections, supporting companies in navigating both markets, and encouraging sustainable investment and knowledge exchange that benefits businesses on both sides.”

He stressed that successful cooperation requires more than trade alone. Czech Viet acts as a bridge, helping businesses identify suitable partners, understand local practices, and optimise their investment strategies to maximise opportunities in both countries.

“Our aim is to support projects that contribute to long-term, mutually beneficial cooperation between Vietnam and the Czech Republic, particularly in sectors such as energy, automotive, healthcare, IT, and environmental management, where both countries have complementary strengths,” Tung added.