Vietnam, Czech Republic target $5 bln in bilateral trade

Prime Minister Pham Minh Chinh proposed Vietnam and the Czech Republic to strive to raise bilateral trade turnover to $5 billion while addressing the Vietnam-Czech Republic Business Forum held in Prague on January 20.

Czech investment in Vietnam is expected to increase to $2-3 billion in the future, he said.

Two-way trade has seen strong growth in recent years, reaching approximately $2 billion in 2024. The Czech Republic currently has 41 investment projects in Vietnam, with a total investment capital of $91 million. Key areas of Czech investment include energy, locomotives and carriages, buses, trams, agricultural machinery, and irrigation equipment.

At the forum, the two sides discussed and proposed solutions to enhance economic, trade, and investment collaboration, particularly in traditional fields like mechanics, metallurgy, energy, transportation, labor, tourism, agriculture, and processing industries, as well as in such emerging sectors as innovation, information technology, digital transformation, green transition, transportation connectivity, and mining.