Russian firms encouraged to expand investment in VN

Deputy PM Trinh Dinh Dung (R) receives Vitaly Markelov, Deputy Chairman of the Gazprom Management Committee, in Ha Noi on March 14, 2019

The deputy PM made the statement during his reception for Vitaly Markelov, Deputy Chairman of the Gazprom Management Committee, in Ha Noi on March 14.

He affirmed that the traditional friendly relations and strategic partnership between Viet Nam and Russia are growing finely across various spheres, especially in economic, trade and investment cooperation.

The two countries maintain the mechanism of the Intergovernmental Committee on Trade, Economic, Scientific and Technological Cooperation, headed by a deputy PM, with annual meetings, the official said.

Russia currently ranks 23rd among the countries and territories investing in Viet Nam with 116 projects. Russian investment is mainly focused on the fields of oil and gas, the manufacturing industry, mining, transportation and telecommunications. Viet Nam is running 22 investment projects in Russia with a total capital of nearly US$3 billion.

Highly appreciating Gazprom’s investment projects in Viet Nam, Deputy PM Dung asked the Russian group to continue working closely with Vietnamese ministries, sectors and partners to apply science and technology and renovate administration, aiming to reduce costs and enhance the investment efficiency.

Photo: VGP

For his part, Markelov said the cooperation projects in Viet Nam has contributed significantly to Gazprom’s development, adding that his firm is currently cooperating with the Viet Nam Oil and Gas Group (PVN) and Vietnamese partners to implement oil and gas exploitation projects.

In the time ahead, Gazprom wishes to develop additional investment projects in Viet Nam in the area of oil and gas, from the work of exploration, exploitation and transportation to the processing and trading of oil and gas products, the guest stated.

Welcoming Gazprom’s plan to expand investment cooperation in Viet Nam, Deputy PM Dung asked the Ministry of Industry and Trade and the PVN to continue working closely and creating favorable conditions so that the Russian group’s projects will be implemented with optimal efficiency.

By Vien Nhu