Illustrative image (Source: VNA)

HCM City (VNA) –
Authorities of Ho Chi Minh City and Moscow are working together to establish a light industry park for Vietnamese enterprises in the Russian capital.

According to the Ho Chi Minh City Trade and Promotion Centre, the park is expected to cover between 100 and 120 hectares. It will offer production support, legal and logistics services, among other facilities.

The park’s target sectors include garment-textiles, leather footwear, woodwork production and packaging.

Vietnam has so far channeled 2.93 billion USD into 20 projects in Russia, mostly in oil and gas exploration and services.

Russia ranks 17th out of 112 nations and territories investing in Vietnam with 114 projects worth 2.08 billion USD.-VNA