Hanoi - Vietnam will get a 420-million USD loan (CZK 8.4 billion) to build a highway linking Hanoi with the port of Hai Phong near the border with China, as the press agency New China informed Wednesday.

The signing of the contracts took place at Vietnam - Czech Republic Business Forum in Vietnam´s capital of Hanoi.

The Czech Minister of Industry and Trade Marin Říman said that Czech producers and exporters could help to supply Vietnam´s markets in areas of power generation, transport, healthcare and environment protection.

Two-way trade

"Vietnam could be an effective bridge for Czech enterprises to enter ASEAN markets, and the Czech Republic could be an important partner for Vietnamese commodities to enter the EU," said Doan Duy Khuong, vice chairman of the Viet Nam Chamber of Commerce and Industry, for Vietnam´s news agency Vietnam News. 

According to this agency, the two-way trade reached USD 250 million last year. The Czech Republic imported coffee, pepper, fruits and vegetables, tea, rice, footwear, garments from Viet Nam, while exporting clothing,  engineering goods, plastic, butter and milk to the country.

Vietnam's Deputy Minister of Industry and Trade Le Danh Vinh called on Czech officials to help Vietnamese entrepreneurs to enter the Czech market. For this to be possible, they need a so called green card.

Growing eocnomy

Vietnam´s media reported that the contracts for the Hanoi - Hai Phong highway construction were signed between Czech firm PSJ Holdings and Vietnam's Cienco 1 and the Vietnam Infrastructure Development and Finance Investment Co.

Vietnam's economy has been growing over the past years, as the communist government has started to support a free market policy. The development has been rather uneven, though, with the country's urban areas and port cities more developed than the rural zones.