PM: Vietnam, Russia hold potential to boost trade, investment ties

Prime Minister Nguyen Xuan Phuc highlighted cooperation opportunities for Vietnam and Russia to boost trade and investment ties at a reception in Hanoi on December 24 for Chairman of the State Duma of the Federal Assembly of the Russian Federation Vyacheslav Viktorovich Volodin.
  • Russia’s State Duma Chairman starts official visit to Vietnam
  • Russian centre holds roundtable on Vietnam-Russia relations
  • Vietnam-Russia strategic dialogue in Moscow
  • President Putin stresses thriving Vietnam-Russia relations
  • Vietnam, Russia agree on steps to boost ties
Prime Minister Nguyen Xuan Phuc shakes hands with Chairman of the State Duma of the Federal Assembly of the Russian Federation Vyacheslav Viktorovich Volodin (Photo: VNA)

Prime Minister Nguyen Xuan Phuc shakes hands with Chairman of the State Duma of the Federal Assembly of the Russian Federation Vyacheslav Viktorovich Volodin (Photo: VNA)

The Government leader noted with pleasure that the particularly reliable political relationship between Vietnam and Russia have been maintained and strengthened through the exchange of delegations at all levels, especially those at the high level.

PM Phuc believed that the ongoing official visit to Vietnam by Volodin will contribute to the enhancement of the bilateral relationship. 

Many corporations and businesses of Vietnam want to invest in Russia, he said, expressing his hope that Russia’s investment projects in the fields of infrastructure development, energy and transport in Vietnam will be successfully carried out.

The PM urged ministries and agencies of Vietnam and Russia to closely coordinate and effectively in implementing the Free Trade Agreement (FTA) between Vietnam and the Eurasian Economic Union in a bid to realize the target of 10 billion USD in two-way trade by 2020. 

The two sides need to actively remove non-tariff barriers, especially for agricultural and aquatic products, he said. 

PM Phuc suggested the State Duma urged Russian agencies to allow more Vietnamese firms to export seafood to the Russian market in accordance with provisions of the above-mentioned FTA as well as of the World Trade Organisation and international practices.

Energy cooperation, especially oil and gas exploration and exploitation, continues to be an important pillar of the Vietnam-Russia cooperation, he stressed, affirming that Vietnam supports and is willing to create favourable conditions for Russian oil and gas enterprises to operate effectively in Vietnam.

The Vietnamese leader expected that the State Duma and Volodin to support this strategic cooperation. 

PM Phuc thanked the Russian side for helping Vietnam train human resources and hoped the country to increase the number of scholarships granted to Vietnam to 1,000 per year, and boost cultural exchanges and support each other in tourism promotion.

He appreciated the effective support from the State Duma and Volodin for boosting cooperation between localities of the two countries, and expected the State Duma to continue serving as a bridge between Vietnamese and Russian localities on the basis of signed agreements.

PM Phuc suggested the State Duma and Government of Russia to assist Vietnam in building an e-Government, and create favorable conditions for the Vietnamese community to live and do business stably in the country.

Having spoke highly of cooperation between the National Assembly of Vietnam and the State Duma, the PM applauded the exchange of all-level delegations between the two parliaments, saying that this has contributed to enhancing coordination and sharing of information and experience in law-making and supervision, well as promoting the implementation of bilateral cooperation agreements.

For his part, Volodin held that the relationship between Vietnam and Russia has developed positively, and high-level meetings have contributed to fostering the bilateral ties. 

He proposed a meeting in Moscow between Vice Chairman of the State Duma  Ivan Мelnikov and Vietnamese Ambassador to Russia Ngo Duc Manh with Vietnamese enterprises and overseas Vietnamese in Russia to seeking ways to remove difficulties and obstacles facing them. 

Volodin emphasised the need to establish a legal foundation, which he said that it is very necessary to develop an e-Government, adding that the Russian side is ready to work closely and share its experience with Vietnam in this field.

According to the chairman, Vietnam has become an attractive destination for Russian tourists. In 2017, the number of Russian visitors to Vietnam exceeded 512,000, representing year-on-year increase of 30 percent. The figure is expected to hit 700,000 in 2018.

VNA

Other News

Vietnam needs more modern, creative working class: Top leader

Vietnam needs more modern, creative working class: Top leader

Party General Secretary and State President To Lam urged the Vietnam Trade Union to reform more rapidly, deeply and substantively. It must work together with the State, enterprises and training facilities to improve workers’ professional qualifications, digital skills and adaptability.

Grand opening of 14th Vietnam Trade Union Congress for 2026–2031 term

Grand opening of 14th Vietnam Trade Union Congress for 2026–2031 term

VGCL President Nguyen Anh Tuan said achievements obtained over the past ternure reflect the close guidance of the Party, effective coordination among State agencies, local authorities, the Vietnam Fatherland Front and socio-political organisations, support from employers and, above all, the dedication and innovation demonstrated by trade union officials, members and workers across the country.

Prime Minister chairs Government's regular meeting for May

Prime Minister chairs Government's regular meeting for May

Prime Minister Le Minh Hung emphasised the need to further improve institutions and policy frameworks, develop digital infrastructure and data resources, and create the necessary conditions for science, technology, innovation and digital transformation to become new drivers of economic growth.

Official hails progress in Vietnam – RoK defence cooperation

Official hails progress in Vietnam – RoK defence cooperation

Deputy Prime Minister and Minister of National Defence General Phan Van Giang said that alongside the robust growth of relations between the two countries, defence cooperation has continued to develop extensively and intensively, becoming increasingly practical and effective.

Vietnam's First Lady visits disadvantaged children in Philippines

Vietnam's First Lady visits disadvantaged children in Philippines

Ngo Phuong Ly, spouse of Party General Secretary and State President To Lam, expressed her emotion at seeing the children’s optimism despite difficult circumstances, noting that both Vietnam and the Philippines place children at the centre of their development policies, from education, health care to child protection.

Top leader of Vietnam pays state visit to Philippines

Top leader of Vietnam pays state visit to Philippines

Party General Secretary and State President To Lam and his spouse are paying state visit to the Philippines from May 31 to June 1 at the invitation of President Ferdinand Romualdez Marcos Jr. and his spouse.