Russian Firms Seek to Enter Vietnam

Many Russian investors now want to come back to Vietnam after a long-time interruption as the trade relation between the two countries is improving, said Aleksandr Fedorov, deputy governor of Yaroslav province.

 

Russian companies from Yaroslav are highly interested in manufacturing automobiles, machines and aircraft as well as electric equipment production, which is the province’s as well as Russia’s strength, said Fedorov during a meeting with Doan Duy Khuong, Vice President of the Vietnam Chamber of Commerce and Industry (VCCI).

 

He hoped that the VCCI will act as a bridge to boost the cooperation between businesses from the two countries.

 

The two governments have already set up a sub-committee for trade and investment cooperation.

 

In related news, a Vietnamese delegation of businesses specializing in the fields of trade, information technology, investment, infrastructure development, and financial services, plans to visit Moscow and Saint Petersburg in Russia from September 13-20 this year in order to seek cooperation opportunities.

 

Vietnam and Russia target to obtain two-way trade turnover of $2 billion in 2010. The bilateral trade revenue surpassed $1 billion in 2005, a 15 per cent increase from 2004, of which, Vietnam earned $252 million from Russia, up 16.6 per cent and Russia exported $768 million worth of products to Vietnam, rising by 14.4 per cent on-year.