New Opportunities for Vietnam - Russia Trade and Investment

The Ho Chi Minh City Branch of the Vietnam Chamber of Commerce and Industry (VCCI - HCM) coordinated with the Tomsk Chamber of Commerce and Industry, Russia to organise a Russia - Vietnam trade and investment conference and business matching on October 20.

 

The conference came after a market-surveying visit of 18 Tomsk’s leading companies to Vietnam. Visiting companies primarily operate in information technology; software production, training and services; medical equipment, pharmaceuticals and chemicals; garments and textiles, etc.

 

Delivering the opening speech, Mr Vo Tan Thanh, Director of VCCI - HCM, said two-way trade revenues between Vietnam and Russia has climbed high over the past years. Vietnam’s exports to the world’s largest country are increasing in both value and product categories. In 2010, the bilateral trade turnover topped US$2.45 billion, representing an increase of 400 percent from 10 years ago. Although trade revenues between Vietnam and Russia have been going up in recent years, no major breakthroughs have been made. Current outcomes are incommensurate with potentials and demands of the both sides.

 

Mr Thanh hoped Vietnamese and Russian businesses would take advantage of opportunities that this event created. This was a chance for them to find their own partners and sig commercial contracts.

 

Russian visitors introduced information about economy, investment environment and consumer market in Russia and expressed their desire to forge long-term business and cooperation ties with Ho Chi Minh City in particular and Vietnam as a whole.