Vietnam, Russia seek new investment opportunities
The Deputy PM was
addressing the first Vietnam-Russia Economic Forum co-organised by the
Vietnamese Ministry of Industry and Trade, and the Ministry of Economic
Development and the Entrepreneurs’ Organisation of Russia, in Hanoi on
October 16.
He briefed Russian businesses and representatives
from ministries and local governments on Vietnam’s economic development
as well as incentives for foreign investors.
Russia’s First
Deputy Prime Minister Igor Ivannovich Shuvalov said he hopes
implementing existing bilateral economic, trade and investment projects
will boost the two countries’ economic and trade ties, especially after
the signing of a free trade agreement between Vietnam and the Customs
Union of Russia, Belarus and Kazakhstan.
The Russian First
Deputy PM is in Hanoi for the 16 th session of the Vietnam-Russia
Intergovernmental Committee for Economic, Commercial, Scientific and
Technological Cooperation, which prepares for the upcoming visit to
Vietnam by President Vladimir Putin.
At the forum,
participants looked at the situation and potential for cooperation
between the two countries’ businesses in electricity, and oil and gas.
The Russian side also introduced business opportunities in the
country and plans to develop aviation techniques in Vietnam, among many
others.
Two-way trade between Vietnam and Russia last year hit 3.2 billion USD, representing a year-on-year rise of 19.7 percent.
Of the sum, Vietnam’s export turnover to Russia reached 2.3 billion
USD, up 32 percent while its import totaled 1.4 billion USD, up 3.7
percent.
The two countries’ trade is expected to reach 4 billion USD this year.
By August this year, Russia has invested in 92 projects worth nearly 2
billion USD in Vietnam, ranking 19 th among countries and territories
investing in the country.
Vietnam has had 17 investment projects worth 2.4 billion USD in Russia.-VNA