Russian governor promotes business cooperation with Vietnam

Enterprises from Russia’s Sverdlovsk Region want to boost cooperation with Vietnamese firms in the energy, engineering and metallurgy, agriculture, mining, and banking sectors, said the region’s Governor Alexander Misharin.

At a business conference on April 6, the Governor said his first trip to Vietnam, accompanied by over 20 enterprises, starts a new chapter for the relationship between the two business communities. He also called on Vietnamese companies to participate in the second International Ural Exhibition and Forum of Industry and Innovation “INNOPROM – 2011″, slated to take place from July 14-16 in the region’s Yekaterinburg City.

The Deputy Minister of Industry and Trade, Le Danh Vinh, said that Vietnam’s increasing efforts to improve its business and investment climate and its deeper penetration into the global market would create more opportunities for Russian companies.

Meanwhile, the attention from the two Governments and relevant ministries had also laid a firm foundation for businesses to increase coordination, especially in the trade and investment sectors, he stated.

The Vice Chairman of the Vietnam Chamber of Commerce and Industry (VCCI), Hoang Van Dung, emphasised the importance of fostering the exchange of trade information and policies on trade and investment. It was necessary to participate in business conferences, trade fairs and exhibitions to better understand their counterpart’s capabilities, he added.

Two contracts worth US$1.5 million were inked between NPK Okpur, a filtering materials manufacturer, and a Vietnamese counterpart at the event.

In addition, the Vietnam – Russia Joint Venture Bank signed a memorandum of understanding to cooperate with the UralTransBank of Yekaterinburg.

Bilateral trade ties have developed significantly from US$300-400 million in the mid-1990s to US$2.4 billion in 2010. – VOV

Tags: Vietnam Russia cooperation, Vietnam Russia trade