Today: 17/09/2019 16:09:11 (GMT+7)

Vietnam always welcomes Russian enterprises, says PM

Vietnam always welcomes and is willing to create favourable conditions for Russian enterprises to do business and invest in the country, Prime Minister Nguyen Xuan Phuc affirmed when addressing the Vietnam-Russia Business Forum held in Moscow on May 22.

PM Phuc, who is on an official visit to Russia from May 21-23, said that the forum aimed to seek better and more effective and timely measures to ensure that bilateral cooperation matches the Vietnam-Russia sound relations.

Vietnam, Russian enterprises, favourable conditions, Russian enterprises, Vietnam-Russia Business Forum, bilateral cooperation

Prime Minister Nguyen Xuan Phuc speaks at the forum.

He briefed participants on Vietnam’s socio-economic achievements after more than 30 years of renewal. Last year, the country’s GDP growth rate made an 11-year record high at 7.1 percent, while its import-export turnover reached nearly 500 billion USD. Inflation was curbed under 4 percent and the macro-economy remained stable.

According to the government leader, at present, Vietnam has 28,000 foreign-invested projects from 131 countries and territories, with a combined capital of over 350 billion USD. Last year, the country welcomed 15.5 million foreign tourists, a year-on-year rise of 20 percent.

PM Phuc attributed these positive results to improvements in Vietnam’s business environment and its efforts to integrate into the global economy by signing 11 free trade agreements (FTA) and preparing for the signing of an FTA with the European Union (EU).

He underlined the positive impacts of the Eurasia Economic Union-Vietnam FTA on Vietnam’s trade and investment, thus contributing to a 28.6-percent increase in its trade turnover with Russia to hit 4.57 billion USD in 2018.

Vietnam is now the 23rd biggest trade partner of Russia and is running 20 projects worth 3 billion USD in the country, while Russia has 123 projects (excluding those related to oil and gas) totaling 1 billion USD in Vietnam.

However, the PM said that these results have failed to match with potential of both nations.

He expressed his hope that two-way trade can reach 10 billion USD by 2020 after non-tariff barriers on major commodities are removed and a bilateral payment channel using local currencies is launched.

For his part, Russian Deputy Prime Minister Maxim Akimov noted that economic and trade cooperation between Russia and Vietnam has been built on the firm foundation of the time-honoured bilateral friendship.

Vietnam has affirmed itself as a key partner of Russia in Southeast Asia as it accounts for one-third of Russia’s imports from the regional countries, the Deputy PM stated.

He suggested that both sides intensify collaboration in high technology, affirming that Russia is willing to support Vietnam in the fields of digital government and smart city building, as well as cybersecurity.

Earlier the same day, PM Phuc laid flowers in tribute to late President Ho Chi Minh at his statue in Moscow.

President Ho Chi Minh’s spiritual heritage highlighted in Russia
Authorities of Russia’s Saint-Petersburg city, which set up the relationship with Vietnam’s Ho Chi Minh City, have joined hands with Vietnamese associations to organise a range of activities to celebrate the Vietnam-Russia and Russia-Vietnam Year in 2019 and 2020. 
Treasures of Red River Delta to go on display in Russia
An exhibition of antiques representing the different civilisations of Vietnam will be held at the Hermitage Museum in St Petersburg from May 17 to September 22.
Vietnamese veterans in Russia mark national reunification
The Association of Vietnamese Veterans in Russia (AVVR) held a ceremony in Moscow on April 30 to mark the 44th anniversary of southern liberation and national reunification.
National Reunification Day marked in Russia
The Consulate Generals of Vietnam in Russia recently held celebrations of the 44th anniversary of the Liberation of South Vietnam and National Reunification (April 30, 1975).
Vietnamese cuisine and culture promoted to Russian friends
A programme themed ‘Vietnamese cuisine and culture’ was held in Moscow, Russia, from April 12-14, as part of activities to celebrate the Hung Kings Temple Festival.

Source: VNA

Vietnam, Russian enterprises, favourable conditions, Russian enterprises, Vietnam-Russia Business Forum, bilateral cooperation
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