VN welcomes Russian companies to oil and gas projects in continental shelf

Deputy Prime Minister Trinh Dinh Dung (R) and Deputy Prime Minister Maxim Akimov co-chair the 22nd session of the Viet Nam-Russia Inter-governmental Committee on economic-trade and scientific-technological cooperation in Ha Noi on October 29, 2019. Photo: VGP

Dung made the above statement while co-chairing the 22nd session of the Viet Nam-Russia Inter-governmental Committee on economic-trade and scientific-technological cooperation in Ha Noi on October 29.

For his part, Russian Deputy Prime Minister Maxim Akimov said his country supports their companies to expand cooperation spheres in Viet Nam, including liquefied natural gas supply and gas power.

At the 22nd session of the Viet Nam-Russia Inter-governmental Committee on economic-trade and scientific-technological cooperation. Photo: VGP

The two Deputy Prime Ministers agreed to step up construction progress of a Center for Nuclear Science and Technology project in Viet Nam. A memorandum of understanding on the implementation of the project was signed last May between the Vietnamese Ministry of Science and Technology and the Russian state nuclear corporation Rosatom.

Regarding recent developments in the bilateral ties, Viet Nam has become Russia’s biggest trade partner in ASEAN with the two-way trade rising nearly 30% to US$4.5 billion last year.

Deputy Prime Minister Trinh Dinh Dung and Russian Deputy Prime Minister Maxim Akimov sign the Minutes of the Session. Photo: VGP

On investment, Russian investors have poured around US$1 billion in 123 projects (excluding oil and gas projects) in Viet Nam while Vietnamese investors have 20 projects with total investment capital of nearly US$3 billion in Russia.

After the session, the pair signed the Minutes of the 22nd session of the Viet Nam-Russia Inter-governmental Committee on economic-trade and scientific-technological cooperation and witnessed the signing ceremony of agreements on banking cooperation.

They were also present at the first test transaction using the "MIR" national payment card system in Viet Nam.

The same day, the two Deputy Prime Ministers attended and delivered remarks at the Viet Nam-Russia Business Dialogue held by the Viet Nam Chamber of Commerce and Industry and the Russian Businessmen Council.

Both sides agreed that the next session of the Inter-governmental Committee will be held in Russia in 2020./.

By Quang Minh