President Putin hopes Vietnamese investors will be more active in the Russian market.
President Putin expressed his hope that Vietnamese investors will be more active in the Russian market and take advantage of all available opportunities for this.
During his State visit to Vietnam, in an article published in Nhan Dan Newspaper (the mouthpiece of the Communist Party of Vietnam), Russian President Vladimir Putin shared about the potential for economic cooperation between the two countries.
“We hope that Vietnamese investors will also actively take advantage of the vast opportunities available in the Russian market.”
As an example of this, President Putin cited Vietnam's TH Group, which is building milk processing plants in the Moscow and Kaluga regions as well as the Primorsky Territory.
According to President Putin, it is important that both countries continue to pay close attention to increasing mutual trade and stimulating investment.
According to Russian statistics, in 2023, bilateral trade turnover increased by 8%, and in the first quarter of 2024 - by more than a third compared to the same period last year. Food, mineral raw materials, machinery and equipment are exported to Vietnam. Many Vietnamese goods, including clothing, fruits, vegetables and other agricultural products, find consumers on the Russian market. The Free Trade Agreement between the Eurasian Economic Union and Vietnam, signed in 2015, helps to consolidate and develop these positive trends.
The Russian leader assessed that the energy sector remains a strategic area of bilateral cooperation. The Vietsovpetro joint venture has been developing fields on the Vietnamese continental shelf for more than four decades, demonstrating high efficiency. The volume of oil produced by Vietsovpetro over the years has exceeded 250 million tons.
In addition, the Rusvietpetro joint venture, established in 2008, is successfully operating in the Nenets Autonomous Region of Russia. In the difficult conditions of the Far North, it has extracted more than 35 million tons of oil from deep below. In return, Gazprom produces gas in Vietnam, and another major Russian company, Novatek, plans to implement liquefied natural gas projects on Vietnamese territory.
An initiative is being developed to establish a nuclear science and technology center in Vietnam with the support of Rosatom. In this regard, President Putin noted that the Russian state corporation is generally ready to help Vietnamese partners in forming the national nuclear energy industry, including in strengthening human resources potential.
