The Czech Republic is Vietnam's leading trading partner in Central and Eastern Europe, while Vietnam is the Czech Republic’s key partner in ASEAN. Following four years of the EVFTA's implementation, bilateral trade has grown significantly, with an average annual increase of nearly 100%. In 2024, their trade exceeded US$2 billion, marking an 80% rise from 2023.

In investment, Skoda Auto is collaborating with Thanh Cong Group in Quang Ninh to produce cars, with a US$500 million investment, while Sev.en Global Investments is raising its stake to 70% in the Mong Duong 2 coal power plant, the largest Czech investment in Vietnam. Vietnamese Prime Minister Pham Minh Chinh welcomed these developments and highlighted efforts to expedite the ratification of the EVIPA, aiming to increase Czech investment in Vietnam to US$2-3 billion over the next five years. He also encouraged deeper cooperation in green infrastructure, energy, and emerging sectors such as innovation and digital transformation.

Vietnamese Prime Minister Pham Minh Chinh urged businesses from both countries to actively collaborate and leverage each other's strengths to achieve a target of US$5 billion in trade in the coming years. He emphasized the need to diversify products, markets and supply chains, particularly focusing on emerging industries like semiconductor production, big data, AI, cloud computing, IoT, biotechnology and photonics.

Source: https://english.vov.vn