Ha Noi seeks to boost investment, trade ties with Moscow

Monday, Sep 12, 2016 15:00

Officials of Ha Noi and Moscow are calling on enterprises from the two cities to promote investment between the two cities. — Photo vov.vn
(Biz Hub) — Officials of Ha Noi and Moscow are calling on enterprises from the two cities to promote investment between the two cities.

Enterprises from both sides are being encouraged to seize opportunities following the upcoming enforcement of the free trade agreement between Viet Nam and the Eurasian Economic Union (EAEU) to which Russia is a member. 

At an investment and trade promotion event held in Moscow on September 9, Nguyen Ngoc Tu, deputy director of the Ha Noi People's Committee's Investment, Trade and Tourism Promotion Centre, said Ha Noi welcomed all Russian enterprises to invest in Ha Noi and said the city will wholeheartedly support the Russian enterprises. 

On his part, Suren Vardanyan, vice chairman of the Russian Chamber of Commerce and Industry (RCCI), said that with a population of nearly 20 million and the concentration of 80 per cent of the country's capital, Moscow is a market full of potential, especially for Viet Nam's high quality goods. 

Vardanyan said Moscow had been implementing many infrastructure facilities, such as hi-tech and industrial parks, to attract small and medium-sized enterprises, which will enjoy preferential taxes. 

He added that the city had also passed many laws on protecting foreign investors and foreign investment. 

He encouraged Vietnamese enterprises to build hotels in Moscow as Russia is hosting the 2018 World Cup, the world's largest football event. 

The RCCI said it planned to work with the Vietnamese side to hold a conference to review exchanges and contacts between businesses from the two countries and create plans for investment and trade promotion activities in 2017.

Ha Noi's best goods on show in Moscow 

The best goods from Ha Noi are being showcased in Moscow with a view to benefiting both local consumers and Vietnamese businesses that want to seek partnerships with Russian enterprises. 

The Hanoi Expo, which opened at the Ha Noi-Moscow Trade Centre on September 9, is co-organised by Viet Nam's trade office in Russia, Ha Noi's Centre for Investment, Trade and Tourism Promotion and Moscow's Chamber of Trade and Industry. 

Fifty companies from Viet Nam have brought hundreds of tonnes of typical commodities, such as bamboo and rattan products, traditional toys, natural cosmetics and farm produce, as well as various food products, apparel and leather footwear. 

Organisers said the expo was being held just before the Viet Nam-Eurasian Economic Union (EAEU) free trade agreement comes into effect on October 5. The deal will open up a 175-million-strong market for Vietnamese goods. 

At a press conference on the expo, Vietnamese Trade Counsellor Duong Hoang Minh said Viet Nam's exports to Russia increased by 20 per cent while its imports from the country rose by 48 per cent in the first seven months of 2016. 

Bilateral trade can reach US$10 billion or even $15-20 billion by 2020 thanks to the trade pact, he estimated. 

After the Hanoi Expo concludes on September 18, a similar event will be held at the same venue from October 6 to 16 to introduce products from HCM City. — VNS

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