First Vietnam-Russia Biz Forum Convenes in Hanoi
Russia is now an essential trade partner of Vietnam, especially in the field of investment cooperation, remarked Chairman of the Vietnam Chamber of Commerce and Industry (VCCI), Vu Tien Loc at the first Vietnam-Russia business forum opened in Hanoi October 25.
The forum will create new momentums to foster bilateral economic and trade relations and help businesses from the two sides to understand the potentials, advantages and difficulties of each other, said the chairman.
Russian enterprises should boost cooperation and investment with Vietnamese partners, especially in the fields of construction, mineral exploitation and trade, said Russian acting commercial counselor to Vietnam Melnikov Sergey Fedorovich.
Bilateral trade between Vietnam and Russia in the first half of this year jumped 229 per cent on-year and it is expected to reach US$1.6 billion in 2008, the forum was told.
Russia has so far invested in 55 projects in Vietnam totaling US$300 million.
Meanwhile, the Southeast Asian country has 11 investment projects in Russia with a combined capital of over US$33 million, mainly in the fields of textile, food processing and construction materials production. (Pioneer, VNA)
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