Vladimir Dlouhy studied mathematical economics and econometrics at the School of Economics and later at Charles University in Prague. This was followed by an MBA at the Catholic University, Leuven in Belgium.
In 1989, he was invited to join the first post-communist government of Czechoslovakia and served as Minister of Economy until 1992. Following the split of Czechoslovakia, he was appointed Minister of Industry and Trade of the Czech Republic under the government of Prime Minister Klaus until June 1997. Simultaneously, he was MP and vice-chairman of the Civic Democratic Alliance, a centre-right political party, which was part of the governing coalition.
Since 1997, Vladimir Dlouhy has been a member of the International Advisory Board of Goldman Sachs covering Central and Eastern Europe, and held a similar role at ABB from 1997 to 2010. Besides this, Vladimir Dlouhy holds the following positions at home and abroad: non-executive director, KSK Power Ventur, Hyderabad, India; Chairman of the Advisory Board, Meridiam Infrastructure, Paris, France; member of the International Advisory Board of Rolls Royce, London, UK; Associate Professor of Macroeconomics and Economic Policy at Charles University in Prague; Member of the Board of Overseers, Illinois Institute of Technology, Chicago, USA; Vice-chairman of European Group of Trilateral Commission. Between 2009-2012, he was a member of the European Advisory Group to the Managing Director of the IMF.
In 2012, Vladimir Dlouhy was a candidate for the Presidency of the Czech Republic.