VN, Russia push for greater political, economic cooperation

Major Russian investors include Vietsovpetro and Vietgazprom. Russia invests mainly in petroleum, manufacturing, energy, mining, transport, and aquaculture. The number of Russian tourists visiting Viet Nam increases 30% annually. 

Meanwhile, Viet Nam has invested in 18 projects in Russia, with combined registered capital of US$2.4 billion by the end of March 2018.

Most of the investment comes from projects invested by Rusvietpetro joint venture, Ha Noi-Moscow Trade Centre Investment JSC and a dairy cow breeding and milk processing in Moscow of TH Group.

To date, 17 projects have been included in the list of Viet Nam-Russia prioritised projects, which was approved at the 20th session of the Viet Nam-Russia Intergovernmental Committee for Economic-Commercial and Scientific-Technological Cooperation. 

These projects are in the spheres of oil and gas, transport, agriculture, electricity, construction, industry and high technology. The two sides are working on the roadmap for the implementation of the projects.

In addition, economic and trade cooperation between Viet Nam and Russia has grown positively, particularly after the free trade agreement with the Eurasian Economic Union took effect in October 2016.

Cooperation in the field of education and training has also expanded with an increasing number of Vietnamese students provided with scholarships to study in Russia and the number has reached 1,000 students per year. The two countries also see growth in culture, humanities, and tourism cooperation, with the number of Russian tourists to Viet Nam increasing by an average of 30% per year to reach 574,000 in 2017.

Last year, Viet Nam welcomed nearly 600,000 Russian visitors.

                                                                                                                By Vien Nhu