Deputy PM chairs meeting of Vietnamese, Russian businesses hinh anh 1Deputy Prime Minister Trinh Dinh Dung addresses the meeting (Photo: VNA)

Moscow (VNA) – Deputy Prime Minister Trinh Dinh Dung on May 21 chaired a meeting between representatives of 100 Vietnamese firms in Vietnam and Russia and Russian businesses to foster partnerships between the two sides.

Addressing the event, the Deputy PM lauded the efforts of Vietnamese entrepreneurs in Russia in carrying out investment and charity activities in the homeland, as well as their solidarity and mutual support.

Vietnam and Russia have shared a time-honoured relationship and close partnership in many areas. Vietnam is currently the only strategic partner of Russia in the Asia-Pacific region, he noted.

He said that over a decade as strategic partners, economics, and trade have always been a spotlight in the all-round ties between the two countries.

Dung, who is accompanying PM Nguyen Xuan Phuc during his Russia visit, said that the PM’s visit aims to further deepen the bilateral comprehensive strategic partnership and seek new development orientations for the future.

In 2020, Vietnam and Russia will celebrate the 70th anniversary of diplomatic relations which obtained great achievements across politics-diplomacy, economy-trade, security-defence, science-technology, education-training, culture, and tourism.

The Vietnam-Russia ties have been intensified in four major pillars of trade, investment, oil and gas, and electricity. Two-way trade has been rising, while cooperation models have been diversified.

In 2018, trade between the two countries reached 4.57 billion USD, up 28.6 percent from 2017, which is hoped to hit 10 billion USD in 2020, noted the Deputy PM, praising the significant role of Vietnamese entrepreneurs in Russia in promoting Vietnamese products in the market.

The Deputy PM said that Vietnam is speeding up industrialisation and modernisation process, requiring entrepreneurs, especially those abroad, to attract more investments in the homeland and seek markets for Vietnamese products.

Vietnam has been pursuing an external policy of independence, self-reliance, multilateralisation and diversification of its relations, becoming a friend with all countries and engaging in many bilateral and multilateral trade agreements and new generation free trade deals. This is a good condition and a chance for Vietnam to lure more investment, he said.

He expressed his hope that Vietnamese entrepreneurs in Russia will continue reforming business and production methods to meet the market demands, while bettering coordination with their peers at home to expand markets in the region.

Chairman of the Vietnamese Entrepreneurs’ Association in Russia Le Truong Son said that the meeting is a good chance for businesses of both sides to share experience and enhance mutual understanding.

At the event, participants worked directly with each other to seek business and investment partnerships.-VNA