Viet Nam remains important partner of Russia in Southeast Asia

The event was part of the 24th meeting of the countries’ Inter-Governmental Committee on Economic, Trade and Scientific-Technological Cooperation co-chaired by Vietnamese Deputy Prime Minister Tran Hong Ha and his Russian counterpart Dmitry Chernyshenko. 

The participants, including representatives of over 150 Vietnamese enterprises and more than 50 Russian peers, discussed cooperation in goods transport and logistics, energy, industry and green production, and digital economy. 

In his remarks, Deputy Minister of Planning and Investment Nguyen Thi Bich Ngoc said that Russsia and Viet Nam are the two traditional partners.  

Deputy Prime Minister Chernyshenko said Viet Nam has always been an important partner of Russia in Southeast Asia and it is the first and only country in the region to have an FTA with the Eurasian Economic Union (EAEU) consisting of five member States of Russia, Belarus, Kazakhstan, Kyrgyzstan, and Armenia..

He affirmed that the Russian government prioritizes new development directions in science, education, digital technology, tourism; and is willing to share achievements and technologies with Viet Nam through the implementation of joint projects.

Trade between Viet Nam and Russia increased at an average 15 percent a year in the 2016-2021 period to US$ 5.5 billion in 2021. The figure dropped to US$3.55 billion in 2022 due to numerous factors.

As of March this year, Russia had 171 active investment projects in Viet Nam with total registered capital of US$970 million, mostly in mining, services, and processing-manufacturing.

 Viet Nam has 17 valid projects capitalized at US$1.6 billion in Russia./.