Two-way trade between Vietnam and Russia is expected to touch US$4 billion in 2013, according to the Ministry of Industry and Trade (MoIT).
The Vietnam-Russia Business Forum took place on October 16 in Ha Noi under the theme “Vietnam and Russia – New opportunities for trade and investment.”
Deputy PM Hoang Trung Hai and Russian First Deputy PM Igor Ivanovich Shuvalov attended the event which is organized on the occasion of the 16th session of the Vietnam-Russia Intergovernmental Committee for Economic, Commercial, Scientific and Technological Cooperation.
As of late August, 2013, Russia has had 92 FDI projects in Vietnam worth around US$2 billion, ranking 19th among countries and territories investing in the country. Meanwhile, Vietnamese players poured US$2.4 billion in 17 projects in Russia.
Deputy PM Igor Ivanovich Shuvalov said that economic cooperation remains modest in comparison with respective potentials. The Russian Government is prioritizing the Asia-Pacific region, in which Vietnam is an important partner.
Deputy PM Hai underlined that the Vietnamese Government would continue to renovate the economy, perfect legal system, improve the business and investment environment and create favorable, equal and transparent conditions for investors.
Vietnam encourages foreign investment in such areas as high-tech, source technology, new materials and energy, biological production, IT, mechanics and manufacture.
Last year, two-way trade turnover reached US$3.7 billion, up 19.7 percent against 2011, of which US$2.3 billion was Vietnam's exports of goods to Russia and US$1.4 billion was its import from Russia.
VGP
Vietnamese
