Russian Prime Minister Dmitry Medvedev advocated for expanding bilateralcooperation beyond oil & gas and energy during the Vietnam-Russiabusiness forum held in Ho Chi Minh City on April 7.
He voiced his hope for the opening of a Russian automobile assemblyline in Vietnam and other joint ventures in telecommunications andmedicine.
As Vietnam and the Eurasian Economic Unionmove towards the conclusion of free trade agreement negotiations, morebusiness incentives for investors are on the table, he said, adding thatRussia offers incentives to Vietnam, especially in the light industryand other goods.
In finance-credit, Medvedev saidboth sides should work together to tap the potential of theVietnam-Russia joint stock bank while looking for innovative cooperationmodels where payments in Vietnamese dong and Russian ruble are done.
In his speech, Deputy Prime Minister Hoang Trung Hai promised supportto Russian investors, especially in oil & gas, energy, mining,education-training, mechanical engineering, science-technology, autoassembly, technology, trade, tourism and labour.
Vietnam is accelerating its economic reforms, including facilitatingprivate involvement in businesses, fine-tuning legal and market economyregulations, and upgrading infrastructure to draw foreign investors, hesaid.
He said cooperating with Vietnam also meansextending Russia’s reach to the 10 ASEAN economies, particularly as theASEAN Economic Community debuts in late 2015.
Atthe forum, over 50 Vietnamese and Russian enterprises exploredcooperative opportunities and discussed barrier mitigation options.
As of March 2015, Russia had invested in 106 projects worth nearly 2billion USD in Vietnam. Meanwhile, Vietnam recorded 19 projects valuedat roughly 2.5 billion USD in the European country. Trade in 2014 hit2.6 billion USD.
On the occasion, the Bank forInvestment and Development of Vietnam and the Russian Foreign Trade Banksigned a memorandum of understanding on developing a payment modelusing the currencies of both countries./.
He voiced his hope for the opening of a Russian automobile assemblyline in Vietnam and other joint ventures in telecommunications andmedicine.
As Vietnam and the Eurasian Economic Unionmove towards the conclusion of free trade agreement negotiations, morebusiness incentives for investors are on the table, he said, adding thatRussia offers incentives to Vietnam, especially in the light industryand other goods.
In finance-credit, Medvedev saidboth sides should work together to tap the potential of theVietnam-Russia joint stock bank while looking for innovative cooperationmodels where payments in Vietnamese dong and Russian ruble are done.
In his speech, Deputy Prime Minister Hoang Trung Hai promised supportto Russian investors, especially in oil & gas, energy, mining,education-training, mechanical engineering, science-technology, autoassembly, technology, trade, tourism and labour.
Vietnam is accelerating its economic reforms, including facilitatingprivate involvement in businesses, fine-tuning legal and market economyregulations, and upgrading infrastructure to draw foreign investors, hesaid.
He said cooperating with Vietnam also meansextending Russia’s reach to the 10 ASEAN economies, particularly as theASEAN Economic Community debuts in late 2015.
Atthe forum, over 50 Vietnamese and Russian enterprises exploredcooperative opportunities and discussed barrier mitigation options.
As of March 2015, Russia had invested in 106 projects worth nearly 2billion USD in Vietnam. Meanwhile, Vietnam recorded 19 projects valuedat roughly 2.5 billion USD in the European country. Trade in 2014 hit2.6 billion USD.
On the occasion, the Bank forInvestment and Development of Vietnam and the Russian Foreign Trade Banksigned a memorandum of understanding on developing a payment modelusing the currencies of both countries./.
