A Viet Nam-Russia business forum took place in Ha Noi on April 6, attracting the participation of more than 200 enterprises from both nations.

Spotlighting new cooperation opportunities between the sides, the event was held within the framework of the 24th meeting of the countries’ Inter-Governmental Committee on Economic, Trade and Scientific-Technological Cooperation.

Chaired by Vietnamese Deputy Prime Minister Tran Hong Ha and his Russian counterpart Dmitry Chernyshenko, the forum included roundtable discussions in the fields of industry, energy, transport and logistics, climate change, environmental protection, and digital economy-digital technology.

Addressing the forum, the Vietnamese prime minister lauded the robust growth of the two countries’ economic and commercial relationship in the past based on their comprehensive strategic partnership established in 2012 and a free trade agreement (FTA) signed between Viet Nam and the Eurasian Economic Union (EAEU) in 2015.

The two countries continue to consider each other an important priority partner in their respective economic and trade policies, he noted.

Viet Nam always creates favourable business-climate and legal-corridor conditions for foreign enterprises, including those from Russia, to invest and do business in the country, stressed Ha, listing high technology, innovation, and research and development as the country’s priorities in foreign investment attraction.

Russian Deputy Prime Minister Dmitry Chernyshenk delivers his speech at the forum. — VNA/VNS Photo

For his part, Chernyshenko said to Russia, Viet Nam has always been an important partner in Southeast Asia, being the first and only country in the region to have an FTA with the EAEU.

Viet Nam and Russia have benefited significantly from the pact and are ready to discuss new measures to further tap its potential, he said.

The official affirmed that the Russian government prioritises new development directions in science, education, digital technology, tourism; and is willing to share achievements and technologies in these areas serving joint projects of the two countries.

Two-way trade between the two countries increased at an average 15 per cent a year in the 2016-2021 period to US$5.5 billion in 2021. The value dropped to $3.55 billion in 2022 due to numerous factors.

As of March this year, Russia had 171 valid investment projects in Vietnam with total registered capital of $970 million, mostly in mining, services and processing-manufacturing.

Meanwhile, Viet Nam has 17 valid projects capitalised at more than $1.6 billion in Russia, accounting for 7 per cent of its outbound investment. — VNS