Vietnamese, Russian firms exchange cooperation opportunities

Hanoi (VNA) – The Vietnam Chamber of Commerce and Industry held a meeting for Vietnamese and Russian businesses in Hanoi on March 14 to exchange cooperation opportunities in numerous fields.

Vice Chairman of the VCCI Hoang Quang Phong said Vietnam and Russia boast long-standing economic and trade relations.

Vietnam wants to cooperate with Russia in such areas as energy, infrastructure development, oil and gas, and mechanical industry, he said.

Vietnam will create favourable conditions for and share relevant information with Russian firms to carry out specific projects in the Southeast Asian country, he added.

Vietnam is a large market with over 90 million consumers and has political stability.

The country welcomes cooperation activities and investment from Russia, he added.

In 2018, two-way trade reached 4.57 billion USD. The two countries are aiming for 10 billion USD in bilateral trade by 2020.

Vietnam mainly imports machinery, industrial equipment, iron, and steel from Russia; while exporting rice, coffee, and seafood to the market.

Vietnamese firms have been implementing investment projects in Russia in the fields of telecommunications, oil and gas exploitation, construction, operation of trade centres, and milk processing, which have reaped encouraging outcomes. –VNA