The Eastern Economic Forum 2015 opens in Vladivostok, Russia. — Photo RT

MOSCOW (Biz Hub) — Minister of Industry and Trade Vu Huy Hoang and Russian Minister of Energy Alexander Novak have discussed measures to continue boosting the two countries' co-operation in oil and gas development, coal supplies and thermal power projects.

The ministers met last Friday on the sidelines of the Eastern Economic Forum 2015 in Vladivostok, Russia from last Thursday to Saturday.

The officials agreed that Russia and Viet Nam would continue co-operating on energy.

During his meeting with Primorye Regional Governor Vladimir Miklushevsky on Saturday, Hoang affirmed there was great potential for the two countries to bolster their connections.

Viet Nam saw opportunities for co-operation in energy, wood processing, garments and agriculture, he said.

Hoang emphasised the role the Vladivostok Sea Port played in transferring exports between the two countries. He added that he hoped Primorye authorities would facilitate Vietnamese investment in the region.

For his part, Miklushevsky said in addition to its abundant natural resources, the Russian Far East's authorities would offer incentives to facilitate co-operation between domestic and foreign investors.

The region was focusing on developing its light industry, wood processing and agriculture, he said.

The forum drew about 5,000 delegates from 30 countries and territories. About 80 economic deals worth 1.3 trillion ruble (about US$19 billion) were signed during the forum.

Minister Hoang told a Vietnam News Agency reporter in Russia that the Vietnamese delegation wished to boost economic, trade and investment relations between Viet Nam and the Far East region while attending the forum. The Vietnamese Government made initial agreements with the Russian Government and authorities in the Far East region, focusing on studying opportunities for Vietnamese businesses to invest in consumer products, the processing industry and the light industry.

During its stay in Russia, the Vietnamese delegation also met with other Russian officials to discuss favourable conditions for Vietnamese enterprises to join priority investment projects in Russia and the region as a whole. — VNS