Czechs enter shipyard deal

Vietnamese and Czech enterprises agreed to co-operate in shipbuilding and ship repair industries as well as technological transfer at a business conference held on Monday in the capital.

The agreement is confirmed by a contract signed by PSJ and Nosco Vinalines, a memorandum of understanding between PSJ and Vinalines Shipyard and a protocol between CREA Hydro&Energy and Ha Noi Mechanical Engineeging Co (Hameco).

According to the vice chairman of the Viet Nam Chamber of Commerce and Industry (VCCI) Doan Duy Khuong, Viet Nam views the development of trade and investment relations with the Czech Republic as an important endeavor.

The past few months showed stable development in the two-way trade, which topped US$156 million in 2009. Czech exports to Viet Nam stayed at $36 million and its imports at $120 million, most of which are agricultural products, seafood, footwear, garments, handicrafts and computer components. In addition, the Czech Republic has invested some $35 million in Viet Nam, with a focus on manufacturing crystal glass, beer, electrical devices and electronics.

These figures, however, failed to match the economic potential of the two countries, Khuong said, adding that the Czech Republic would be a gateway to a large and lucrative EU market, while Viet Nam would simultaneously introduce Czech products to ASEAN countries.

There were untapped opportunities for increased co-operation, said the minister of Industry and Trade Le Danh Vinh, citing Viet Nam’s advantages in garments, footwear, agricultural production, food processing and consumer goods, as well as Czech strengths in the mining, pharmaceutical and IT industries.

He called for the frequent exchange of business delegations to foster transfers of trade and investment information as well as to find out new co-operation opportunities.

Vinh also proposes organising more business conferences and forums in each country. — VNS

Tags: Vietnam Shipbuilding industry, Vinalines Shipyard