Almaz-Antey's Alcor Surface Movement Radar (SMR) provides data for air and ground traffic control and monitoring systems in the airport. (Photo: VietnamPlus)
Hanoi (VNA) – Russian businesses are very interested in promoting trade and investment cooperation with Vietnam, according to Duong Hoang Minh, Vietnam’s Trade Counselor in Russia.
He cited the fact that the number of Russian companies who have attend trade fairs in Vietnam and explore import-export opportunities is increasing.
Minh went on to say that the Vietnamese Trade Office in Russia suggested the Ministry of Industry and Trade propose the Government coordinate with Russia to organise an intergovernmental meeting that aims to solve difficulties for traders, especially in the field of payment and transportation of goods.
The Trade Promotion Agency and the European-American Market Department under the Ministry of Industry and Trade are working with Vietnamese businesses and Leroy Merlin East company which specialises in the retail of building materials and interior/exterior furniture in Russia to sell goods into the Leroy Merlin retail supermarket chain in Russia.
This is a great opportunity for Vietnam's small and medium-sized enterprises in the fields of mechanics, electricity, electronics, consumer goods, interior/exterior furniture and building materials to access the Russian market and promote export goods to Russia, Minh said.
More than 70 Russian enterprises attend and showcase their products at the Russian-Vietnamese business forum in Vietnam. (Photo:VietnamPlus)
According to the Ministry of Planning and Investment, by the end of 2022, Russia had more than 160 investment projects in Vietnam with total registered capital of nearly 1 billion USD, ranking 27th out of 140 countries and territories having foreign direct investment in Vietnam. Meanwhile, Vietnam has five valid projects capitalised at over 500 million USD in Russia the industry and processing-manufacturing.
Previously, Novatek, the largest independent gas producer in Russia signed a Memorandum of Understanding (MoU) with the People's Committee of south-central Ninh Thuan province to develop an integrated energy-generating project with the use of liquefied natural gas (LNG) in the Southeast Asian country.
Many leading Russian oil and gas groups such as Gazprom and Rosneft are also expected to participate in new projects on Vietnam's continental shelf by 2030.
Currently, Almaz-Antey, Russia's leading economic corporation specialising in designing radars and multi-purpose automatic control systems, considers Vietnam a potential market for investment collaboration and two-way trade.
Almaz-Antey Corporation considers Vietnam a potential market for investment collaboration and two-way trade. (Photo: VietnamPlus)
Alexander Ponomarenko, Deputy General Director and Director in charge of Foreign Economic Affairs of Almaz-Antey Corporation, said his corporation wishes to cooperate with Vietnamese enterprises in the development and production of specialised civil equipment for air traffic control (ATC) systems and meteorological aids.
Vietnam is a potential market for investment cooperation in the field of high technology, he said.
He went on to say that regarding designing radar equipment and multi-purpose automatic control systems, Almaz-Antey is ready to develop bilateral trade in flexible forms suitable to the current context, in addition to traditional cooperation.
Alexander Ponomarenko, Deputy General Director and Director in charge of Foreign Economic Affairs of Almaz-Antey Corporation (Photo: VietnamPlus)
At a reception for First Deputy Speaker of the Russian Federal Assembly’s Federation Council Andrey Yatskin in February, National Assembly Chairman Vuong Dinh Hue emphasised that Russia is one of the most important and priority partners in Vietnam's foreign policy and wishes to continue substantive and effective cooperation with Russia in various fields.
Both host and guest stressed that the two sides need to expand economic, trade and investment cooperation in a practical and effective manner, especially in agriculture, forestry, fisheries and food.
The two sides should consider resuming air routes to boost tourism cooperation, people-to-people exchange, and economic ties, thus meeting the requirements of investors, businesses and citizens of the two countries, they said.
The Vietnamese top legislator suggested the two countries step up bilateral cooperation in the fields of oil, gas and energy which are Russia’s strengths./.
