Additional Russian research institutes and technology companies will join the new stage of the long-term project “Russia-Vietnam: new economies”, as heard at a press briefing in Hanoi on September 28.

Operating since April 2012 under the auspices of the Russian State Duma, the Russian Federation Council and the Union of Russian Renovation Area Associations, the project is designed to help the two countries’ business communities develop technological partnerships and extend integration and technological innovation.

During the briefing, Director of the Research Institute for Small and Medium Enterprises Pham The Hung said during the new stage, the Russian side will introduce technologies applicable to Vietnam and explore the possibility of forming new ventures.

Head of the project Strozhaeva Lubov Victorovna said participating Russian firms are willing to open joint-venture factories in Vietnam in order to boost technical transfers.

From September 28 to October 2, a Russian business delegation is on a working visit to Vietnam, during which they will meet representatives from the Vietnamese National Assembly’s Committee for Science, Technology and Environment; the Ministry of Planning and Investment; and the Ministry of Health as well as hold working sessions with companies under the Vietnam Association of Small and Medium Enterprises and the Vietnam-Russia Joint Venture Bank (VRB).

They will also attend a round-table conference within the framework of the 2015 International Techmart Vietnam – a technology, equipment and trade fair.-VNA