Deputy Prime Minister Trinh Dinh Dung speaks at the event. — VGP Photo

Government officials and businesses of Viet Nam and Russia attended a high-level dialogue forum held in Ha Noi on October 29 by the Vietnam Chamber of Commerce and Industry (VCCI) and the office of the Russian Presidential Commissioner for Entrepreneurs’ Rights.

Addressing the forum, which was part of a working trip to Viet Nam by Russian Deputy Prime Minister Maxim Akimov and a business delegation, Deputy Prime Minister Trinh Dinh Dung said the event will help enhance the effectiveness of Viet Nam-Russia cooperation in many fields.

He expressed the hope that the time-tested relations between the two countries will continue to advance, and affirmed that the Vietnamese Government will always be a reliable strategic partner of Russia.

Viet Nam is committed to creating the best possible conditions for Russian businesses to invest in the country, the Deputy PM said.

Deputy PM Akimov noted that the business communities of the two countries have cooperated with each other for years, reaping positive outcomes.

He said he is certain that Russian businesses will achieve a greater presence in Viet Nam. At the same time, the Russian Government pledges to create favourable conditions for Vietnamese firms to invest in Russia.

Besides the traditional cooperative areas of oil and gas and energy, Russia plans to expand ties with Viet Nam in high technology, telecoms and electronics, as well as digital technology, the Deputy PM said, stressing that e-Government, information security and smart city will be the three focuses of bilateral cooperation in the future.

The Presidential Commissioner for Entrepreneurs’ Rights Boris Titov said Russia has realised the two countries have not made full use of their potential and opportunities in economic cooperation. Therefore, Viet Nam and Russia should promote their partnership, and specific measures are needed to address issues of mutual concern, he said.

On behalf of the Vietnamese business circle, VCCI Chairman Vu Tien Loc reported that trade between Viet Nam and Russia has developed strongly with an average growth of 30 per cent a year after the signing of the Viet Nam-Eurasian Economic Union FTA.

Two-way trade turnover rose by 28.6 per cent year-on-year to reach nearly US$4.6 billion in 2018, with Russia’s exports valued at $2.44 billion.

At present, Russia is the 24th largest foreign investors in Viet Nam with 123 projects and $932 million in registered capital.

Meanwhile, Viet Nam has 22 investment projects in Russia with total capital of nearly $3 billion.

Loc highlighted dairy cow farming and milk processing projects invested by TH True Milk in Moscow and Kaluga as examples of strong Viet Nam-Russia relations.

Viet Nam is currently the 23rd biggest trade partner of Russia globally, the largest in the Association of Southeast Asian Nations (ASEAN) and the sixth in APEC, Loc said, stressing that those figures demonstrated that bilateral ties have been growing strongly based on not only traditional advantages but also new opportunities. — VNS