Vietnam supports investment in the Far East

President Truong Tan Sang affirmed that the Party and State support Vietnamese enterprises to participate in investment cooperation in the Far East region of the Russian Federation.

President Truong Tan Sang receives the Minister of the Russian Far East Development. (Photo: Nguyen Khang/VNA)

On June 17, receiving the Minister of the Russian Far East Development, Mr. VI Ishaev, who is visiting and working in Vietnam, the President asked Russia to create favorable conditions and support, and offer specific preferential mechanisms and policies for Vietnamese enterprises and workers.

At the meeting, the President welcomed the two sides' active preparations for the second round of negotiations on the free trade agreement. President Truong Tan Sang said that the good cooperation between Vietnam and Russia in many fields is continuing to be strengthened. Notably, in the first four months of 2013, Vietnam-Russia trade turnover reached 861 million USD, up 19% over the same period.

To date, Russia has had 93 direct investment projects in Vietnam with a total registered capital of more than 2 billion USD, ranking 18th among countries and territories investing in Vietnam.
The President suggested that during the Minister's visit, the two sides actively concretize the contents of comprehensive strategic partnership cooperation. The President stated that political trust is a favorable foundation for ministries and sectors of the two countries to strengthen cooperation, contributing to the economic development of the Far East region.

Minister VI Ishaev emphasized that in carrying out the tasks assigned by the Russian President, the Ministry has coordinated with relevant agencies to develop a strategic program on socio-economic development of the Far East region until 2025.

The Minister pointed out that the Far East region is focusing on key economic sectors: resource exploitation, chemical industry, shipbuilding, seafood exploitation, construction of the Trans-Siberian railway, and development of airport ports. This is an opportunity for businesses from both sides with existing potential and advantages to complement each other's strengths.

Informing the President about preferential mechanisms on land and assets for foreign enterprises investing in the Far East, the Minister asked Vietnamese enterprises to pay attention to investing and implementing projects, contributing to promoting relations between the two countries./.

According to (TTXVN) - LT