The Czech Republic considers Vietnam its most important trading partner in ASEAN. The 2025 Vietnam–Czech Business Forum opens up new opportunities for trade, investment, technology, and finance.

Vietnam–Czech economic ties enter a new phase of development

On April 22, 2025, the Vietnam–Czech Business Forum was held in Hanoi with the participation of Czech Minister of Finance Zbynek Stanjura and Vietnamese Deputy Minister of Finance Trần Quốc Phương. This event not only marked an important milestone in the economic relations between the two countries but also opened up promising new investment prospects, especially after the bilateral relationship was elevated to a strategic partnership.

Vietnam – Czech Republic’s most important trading partner in ASEAN

Speaking at the forum, Czech Minister of Finance Zbynek Stanjura emphasized that Vietnam is the Czech Republic’s most important trading partner in the ASEAN region. Bilateral trade turnover has exceeded USD 4 billion over the past year, highlighting the strong growth in economic cooperation between the two nations.

Skoda Auto: A landmark Czech investment in Vietnam

A standout project is the major investment by Skoda Auto, a renowned Czech automobile manufacturer, currently partnering with Thanh Cong Group to operate an assembly plant in Quang Ninh province. This factory officially began operations in March 2025 and is expected to help Skoda expand its car market across Southeast Asia.

Czech companies expand their investment in Vietnam

In addition to Skoda, several Czech companies are actively seeking investment opportunities in Vietnam:

- Sev.en Global Investments is exploring opportunities in the energy sector, particularly thermal power.

- Elmich, a well-known kitchenware brand, is developing a manufacturing facility in Ha Nam province.

- Whalebone, a leading Czech cybersecurity firm, signed a cooperation agreement with a Vietnamese partner, signaling a shift from traditional industries to digital technology and cybersecurity.

The Vietnamese community in the Czech Republic – A bridge for economic and cultural exchange

Minister Stanjura also praised the Vietnamese community in the Czech Republic, which is the largest foreign community in the EU. This community is a living testament to successful integration and strong entrepreneurial spirit, acting as a vital bridge between the two nations in both economic and cultural domains.

Vietnam seeks to deepen cooperation in finance and technology

On the Vietnamese side, Deputy Minister Trần Quốc Phương expressed hope that bilateral cooperation would be expanded in several key areas, including:

- Public financial management

- Capital market development

- FinTech (financial technology)

- Green finance for sustainable transition

Bilateral investment: A promising start

Currently, the Czech Republic has 42 active investment projects in Vietnam, with a total registered capital of around USD 91 million, primarily in the mining and processing industries. Conversely, Vietnam has invested in 4 projects in the Czech Republic, with a total capital of approximately USD 1.5 million, focusing on trade, services, and IT.

While these figures are still modest, both sides view them as a strong foundation for expanding two-way investments in the near future.

VCCI: Much untapped potential in Vietnam–Czech economic ties

Chairman of the Vietnam Chamber of Commerce and Industry (VCCI), Mr. Pham Tan Cong, affirmed Vietnam’s strong commitment to global economic integration. At present, Vietnam is a signatory to 17 effective Free Trade Agreements (FTAs), covering nearly 90% of global GDP. This creates abundant opportunities for international investors, including those from the Czech Republic.