Strengthening investment cooperation between Vietnam and Moscow province

The two sides exchanged information and considered the possibility of implementing a joint project in Moscow province with the investment participation of TH True Milk Company.

On July 6, Moscow province leaders received Ambassador Extraordinary and Plenipotentiary of Vietnam to Russia Nguyen Thanh Son and a delegation of TH True Milk Company and Bac A Bank at the provincial government headquarters to discuss investment cooperation and project implementation in Moscow province.

At the meeting between Moscow Governor Andrey Vorobiev with Vietnamese Ambassador to Russia Nguyen Thanh Son and the delegation led by Chairwoman of TH True Milk Company, General Director of Bac A Bank - Ms. Thai Huong, the two sides discussed the prospects of bilateral cooperation in the field of investment. Specifically, the two sides exchanged information and considered the possibility of implementing a joint project in Moscow province with the investment of TH True Milk Company to build a complex of cow breeding and milk processing. According to the cooperation project, this complex will raise about 200,000 dairy cows on a total area of ​​up to 80,000 hectares.

Ambassador Nguyen Thanh Son worked with Moscow province leaders on investment cooperation.

Speaking at the meeting, Moscow Governor Andrey Vorobiev welcomed Vietnam's proposal to invest in Moscow and said that the agricultural sector in Russia receives support at both the federal and local levels. The dairy processing sector in Russia also receives many incentives such as support of 25% of the total investment cost. Regarding land for the project, in the first phase, this project needs about 22,000 hectares, of which Moscow province will provide 14,000 hectares at preferential prices.

For his part, Ambassador Extraordinary and Plenipotentiary of Vietnam to Russia Nguyen Thanh Son emphasized that TH True Milk Company's investment in a large project in the field of milk processing will meet Russia's domestic needs in the current context; this is also a demonstration of Vietnam's affection and solidarity towards Russia; contributing to strengthening the comprehensive strategic partnership between the two countries.

Ambassador Nguyen Thanh Son said: "I think that this project can be successfully developed in Moscow province and believe that the company's products will meet Russia's strict standards, successfully competing in the market with similar products supplied from other countries."

According to the introduction, the total investment volume in the project to build a dairy farming and production complex in Moscow province could reach 2.5 billion USD and be divided into 3 phases, of which the first phase will invest about 500 million USD. The Moscow provincial government committed to taking all necessary measures to ensure infrastructure for the project such as granting land at the most favorable locations as selected by the Vietnamese side, building roads, supplying electricity, water and gas... to serve this project. It is expected that after the preparation and completion of legal procedures, the first phase of the project will be implemented at the end of 2016 in Moscow province./.

PV