Loading at Da Nang's Tien Sa Port. The central city's ports will look for co-operation with Vladivostok Port in Russia in boosting investment and trade between central region of Viet Nam and the Far East region in Russia. — VNS Photo Cong Thanh

DA NANG (Biz Hub) — Lack of information about investment projects and few exchanges among businesses are seen as hurdles that limit investment and trading between Russia and the central region.

Newly appointed Consulate General of the Russian Federation in Da Nang Andrey P Brovarets told Viet Nam News in an interview that projects from Russia were rarely seen in the region.

He said businesses from Viet Nam and the central region have very little information about the investment potential in Russia, especially the Far East region.

"It's a very dynamic and developing region in Russia, while it is not so far from Viet Nam. The Far East offers many prioritised policies to investors, and Vladivostok Port has become a free port," Brovarets said.

"Businesses from Viet Nam and the central region can invest in production and processing projects in the region for exporting goods to western Russia," he said, adding Vladivostok port would be a free-tax zone.

He said the Primorye region was a favourite destination of investors from Viet Nam who seek business links with Russian partners.

He said the Primorye region, which is home to Vladivostok Port, has drastically integrated with Asia in trade ties.

"More exchange of information in trade and investment must be promoted in the future to boost trade between provinces in the central region of Viet Nam and Russia," he said.

Brovarets said there have been investments between the provinces of Viet Nam and Russia only in state-level co-operation projects.

Low-cost carrier VietJetAir will launch direct flights between Russia and Viet Nam, but it is yet to decide the destinations in Viet Nam.

Russian tourists in the Far East region preferred visiting central coastal beaches, and Da Nang would be a favourite destination for the launch of direct flights as well as sea routes from Vladivostok to Da Nang's Tien Sa Port, Brovarets said.

He said the flights would boost tourism between Da Nang and the Far East in Russia and businesses links through international conferences and events hosted in the central region.

He said the two regions (central region of Viet Nam and Russia's Far East) should have more cultural and educational exchanges.

Language courses should be started as a co-operative activity between Da Nang City's Foreign Language Institute and Vladivostok University, as Vietnamese students could study in Russia and Russian students could join Vietnamese language courses in Da Nang, he said.

In June, representatives of the Chambers of Commerce and Industry from Russia's Union Primorye and Da Nang signed a memorandum of understanding (MoU) on trade, investment, export and tourism.

President of the Primorye Chamber of Commerce and Industry Boris Stupnitsky said the MoU would help boost Da Nang's exports and create business opportunities for the enterprises of both sides.

Primorye has been planning to open a representative office in Da Nang to create favourable conditions for Russian businesses, as well as exports to the East-West Economic Corridor that links Viet Nam, Laos, Thailand and Myanmar via Da Nang ports.

A Primorye  representative said the volume of cargo shipment between the central city's port and Vladivostok Port in Russia has remained low for years. — VNS