Vietnam-Russia economic forum opens in Moscow

The Vietnam-Russia economic forum “Strategic partnership- comprehensive cooperation” was held in Moscow, Russia on September 15 by the Vietnam Chamber of Commerce and Industry (VCCI) in collaboration with the Vietnamese Embassy in Russia.

Addressing the forum, the Vice President of the Russian Chamber of Commerce and Industry, George Petrov, said that relations between Vietnam and Russia are based on mutual trust and understanding.

Vietnam is a lucrative market for Russian investors in projects on oil and gas exploitation, metallurgy, nuclear power, biology, equipment and machinery, seafood, automobiles, aviation and banking services.

Vietnam has an enormous big market, with more than 50 percent of its population under 30 involved in projects to boost economic development and foreign investment.

The country now has 59 Russian-invested projects totalling more than US$576 million excluding those in the oil and gas industry, he added.

Mr Petrov suggested that business communities in both countries sign more contacts, exchange market information and coordinate more to gain access to other regional markets.

He expressed his hope that both countries would sign a number of cooperation agreements to further promote their strategic partnership during Russian President Dmitry Medvedev’s forthcoming visit to Vietnam.

Petrov also called on Vietnamese businesses to invest in and cooperate with Eastern Russia including Siberia.

The Vice President of the Vietnam Chamber of Commerce and Industry (VCCI) Pham Gia Tuc took the occasion to introduce almost 100 Vietnamese businesses that are participating in VCCI’s business promotions during Vietnamese Days in Russia.

The Minister of Industry and Trade Vu Huy Hoang praised the advantages of doing business in Vietnam and its investment environment, saying that the nation is a developing market which is stable and an integral part of the global economy.

Vietnamese policy considers the foreign-invested businesses as Vietnamese business and creates favourable conditions for investors, he added.

He called on overseas Vietnamese business people in Russia to invest directly or through joint ventures in their home country. – VOV

Tags: Vietnam-Russia economic forum