VN firms investing $2.4 billion in Russia

The key projects included one by the Viet Nam National Oil and Gas Group (PetroVietnam) to develop the Rusvietpetro Joint Venture Company with a total investment of $2.02 billion to explore and exploit oil and gas in Russia. — VNA/VNS Photo Huy Hung

HA NOI (Biz Hub) — Viet Nam invested a total of US$2.4 billion in 18 projects in Russia by end-September, according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment.

PetroVietnam had also invested a total of $125 million in another oil exploitation project in Russia.

Another large project by a Vietnamese investor in Russia involved building the Ha Noi Moscow Trading Centre, with a total investment of $190 million.

Meanwhile, the agency reported by the end of September that Russian investors had registered to invest $1.96 billion in 114 projects in Viet Nam. Russia has ranked 17th on the list of 105 nations and territories investing in Viet Nam.

Russia has made its largest investment in the processing and manufacturing sector, with $1.13 billion, accounting for 58 per cent of its total investment in the country, distributed amongst 37 projects.

Two other sectors receiving large Russian investments were mining and real estate, with capital of $581.2 million and $72.7 million respectively.

Some large Russian-invested projects included the Bus Industrial Centre Company, with total capital of $1 billion; the building of a factory for producing and assembling parts for buses in Binh Dinh Province; and a project to exploit oil and gas, with capital of $328 million. — VNS