Central city to call investors from Russia at St. Petersburg Economic Forum

Wednesday, Oct 10, 2018 15:54

A plane of VietJetAir lands at Da Nang International Airport. The central city will call for more investment from Russia at the St. Petersburg International Economic Forum 2019. — VNS Photo Cong Thanh

The central city of Da Nang will participate in the St. Petersburg International Economic Forum 2019 on June 6-8 as a chance to call for more investment from Russia as well as showing off potential of the coastal central local.

Chairman of the city’s People’s Committee Huynh Duc Tho said in a recent meeting with Ambassador Extraordinary and Plenipotentiary to Viet Nam Konstantin V. Vnukov that the city would promote projects in the fields of hi-tech industries, sea port development, hi-tech farming, tourism property, information technology, healthcare service and supporting industries to Russian investors.

Thơ said it would be a chance for Da Nang to highlight its investment incentives and listen to the requirements of Russian enterprises looking to invest in Da Nang.

The Russian ambassador said he hoped the participation of Da Nang at the forum would help boost investment chances for businesses from Russia and the city.

He said investment and trade between Da Nang and locals from Russia has yet promoted.

The St. Petersburg International Economic Forum serves as a platform for the discussion of key issues in the world economy, regional integration, and the development of new industrial and technological sectors, as well as of the global challenges facing Russia and other nations.

As plan, Russia and Da Nang would eye priorities for promotion programmes with Russian automotive manufacturer Gorkovsky Avtomobilny Zavod (GAZ) for establishment a joint venture to distribute its products in the Vietnamese market, and Anex Tour company in boosting tourism service.

Consulate General of the Russian Federation in Da Nang, Andrey P Brovarets said 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, and projects from Russia were rarely seen in the region.

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

He 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 as Vladivostok port would be a free-tax zone.

In 2015, 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. However, cargo shipment between the city’s port and Vladivostok Port in Russia had remained poor for years

Budget airline Vietjet Air had been planning to open air routes between Vladivostok in Russia and a number of Vietnamese regions such as HCM City, Nha Trang, Hue, Phu Quoc and Da Nang. — VNS

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