Vietnam, Russia to Raise Two-way Trade to US$2 Bln in Next Three Years

The bilateral trade between Vietnam and Russia is forecast to hit US$1 billion this year and to double in next three years, Mikhail Slipenchuk, chairman of the Russia-Vietnam Business Council said at a forum in Hanoi Tuesday.

 

Mikhail Slipenchuk was leading the delegation of 100 Russian firms on a visit to Vietnam to attend the Vietnam-Russia Business Forum and seek investment opportunities in the Southeast Asian market.

 

The foreign chairman affirmed the group of over 100 businesses includes Russia's leading firms in fields of energy, construction, trade, posts and telecoms, banking and finance. All of them are keen on coordinating with Vietnamese partners operating in sectors of construction, minerals exploitation, trade and new technologies, he added.

 

The Vietnamese businesses, who accompanied Prime Minister Nguyen Tan Dung during his September trip to Russia, signed contracts worth up to US$1.14 billion with Russian partners, said Pham Gia Tuc, Secretary General of the Vietnam Chamber of Commerce and Industry (VCCI). Tuc hoped that the similar encouraging achievement will be recorded from the Hanoi-based forum.

 

Oil and gas, energy, fossil coal exploitation, agricultural products processing, auto assembling and hydro power plant construction are considered to be potential aspects.

 

By the end of October this year, Russia had invested into 54 projects valued at US$302 million in Vietnam, ranking 24^th out of 79 nations and territories investing in the country. Vietnam is currently operating 11 projects worth of US$73 million in Russia. (VNA, Website of CPV)