Russian Firm Wants to Invest US$1Bln in Vietnam Mining Project

A Russian company wants to pump more than US$1 billion into a project exploring and mining bauxite ores in Vietnam’s central region, said I. Hovaev, Minister Counselor of the Russian Embassy in Vietnam.

 

However, he did not reveal the name of the company.

 

The Minister Counselor confirmed Russia is ready to enter electricity, mining, telecom, traffic and manufacturing projects in Vietnam, and help Vietnam build nuclear power plants.

 

Russia pledged the best cooperation in Vietsovpetro, a Vietnam-Russia oil and gas joint venture, in the coming time as it is considered a symbol of economic cooperation relations between the two nations, he said.

 

Hovaev said the Governments of the two countries discuss organizing “Russian Days in Vietnam” in 2007 and “Vietnam Days in Russia” in 2008 during an official Vietnam visit of Russian President V.V.Putin recently, aiming to accelerate cultural exchanges as well as further boost economic, trade and investment cooperation relations between the two sides.

 

So far, Russia has 47 projects with a combined registered capital of $278 million in Vietnam, ranking the 22^nd among 76 countries and territories investing in the country. Vietnam & World Economy