The Hanoi–Moscow Centre for Culture, Trade, and Hotels in Moscow. — Photo vcci.com.vn

HA NOI (Biz Hub) — The Hanoi–Moscow Centre for Culture, Trade, and Hotels launched on Wednesday in Moscow to boost bilateral relations between the two cities, according to the VnEconomy online newspaper.

The centre represents the cooperation between Ha Noi and Moscow in strengthening their traditional friendly relationship and in strengthening ties between their two countries as regards their economy, culture and tourism industry.

The centre, built on 130,000 square metres of land, with investment capital of US$240 million, includes a trade centre, luxury apartments, and 21-storey hotels.

The complex will house legal Vietnamese residents who do business in Russia and will be used as an exchange centre for Vietnamese and Russian businesses to seek and develop co-operation.

The businesses will enjoy preferential policies when they buy or rent apartments and stalls here. The centre will also help businesses to handle legal procedures, including making investments; obtaining licences to start a company; and establishing representative offices, branches or showrooms. It will also support businesses seeking potential partners and agents in Russia.

The leaders of both cities cut the ribbon at the centre's opening ceremony. — VNS