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Zeroing the .223 Vz should be identical to zeroing a 7.62 Vz. The key thing is understanding which way to turn your iron sights to get the desired effect down-range.
Mine works the same as every other rifle I have owned. Front sight is adjustable for elevation and windage and the rear is merely used to adjust for the various ranges. Get it close on paper at 50yds, then move out to 100yds with the rear sight on the 100 setting and fine tune from there. Being European, the settings are probably in meters, but that doesn't make a really large difference at 100yds. You can set the POI slightly (very slightly) high at 100yds if you want to be dead nuts on at 100m.
Since you are adjusting the front sight, it must move in the opposite direction of what you want the POI to do.