Vietnam-Russia business forum attracts 200 firms

Russian Deputy PM Dmitry Chernyshenko speaks at the forum (Photo: VNA)

Hanoi (VNA) – A Vietnam-Russia business forum took place in Hanoi on April 6, attracting the participation of more than 200 enterprises from both nations.  

Spotlighting new cooperation opportunities and potential sectors between the sides, the event was held within the framework of the 24th meeting of the countries’ Inter-Governmental Committee on Economic, Trade and Scientific-Technological Cooperation.

Chaired by Vietnamese Deputy Prime Minister Tran Hong Ha and his Russian counterpart Dmitry Chernyshenko, the forum included roundtable discussions in the fields of industry, energy, transport and logistics, climate change, environmental protection, and digital economy-digital technology.

Addressing the forum, the Vietnamese minister lauded the robust growth of the two countries’ economic and commercial relationship in the past based on their comprehensive strategic partnership established in 2012 and a free trade agreement (FTA) signed between Vietnam and the Eurasian Economic Union (EAEU) in 2015. The two countries continue to consider each other an important priority partner in their respective economic and trade policies, he noted.

Vietnam always creates favourable business-climate and legal-corridor conditions for foreign enterprises, including those from Russia, to invest and do business in the country, stressed Ha, listing high technology, innovation, and research and development as the country’s priorities in foreign investment attraction.

At the event (Photo: VNA)

For his part, Chernyshenko said to Russia, Vietnam has always been an important partner in Southeast Asia, being the first and only country in the region to have an FTA with the EAEU.

Vietnam and Russia have benefited significantly from the pact and are ready to discuss new measures to further tap its potential, he said.

The official affirmed that the Russian government prioritises new development directions in science, education, digital technology, tourism; and is willing to share achievements and technologies in these areas serving joint projects of the two countries.

At the event (Photo: VNA)

Two-way trade between Vietnam and Russia increased at an average 15% a year in the 2016-2021 period to 5.5 billion USD in 2021. The value dropped to 3.55 billion USD in 2022 due to numerous factors.

As of March this year, Russia had 171 valid investment projects in Vietnam with total registered capital of 970 million USD, mostly in mining, services and processing-manufacturing.

Meanwhile, Vietnam has 17 valid projects capitalised at 1.6 billion USD in Russia, accounting for 7% of its outbound investment./.

VNA