Business forum highlights Vietnam-Russia cooperation prospects
A business forum was held in Moscow on September 18 to promote cooperation between Vietnam and Russia when the Vietnam – Eurasian Economic Union free trade agreement comes into effect on October.
Moscow (VNA) – A business forum was held in Moscow on September 18 to promote cooperation between Vietnam and Russia when 🔯the Vietnam – Eurasian Economic Union (EAEU) free trade agreement comes iღnto effect on October 5 this year.
Addressing the event, Deputy Prime Minister Trinh Dinh Dung detailed Vietnam’s external affairs, economics, defence, security, culture and society, adding that one of the country’s most significant accomplishments was becoming a middle-income country from an under developed one.
He attributed the achievements to contributions from overseas Vietnamese, including those in Russia , saying difficulties still lie ahead requiring efforts from people at home and abroad.
The free trade pact between Vietnam and the EAEU is expected to boost bilateral trade, investment and tourism.
To fully benefit from the deal, the Vietnamese community in Russia should use more legal and transparent business models and increase the quality of products according to international standards, he said.
Vietnamese Ambassador to Russia Nguyen Thanh Son vowed to work with the Vietnam Business Association in Russia to realise the Party and State’s policy of global integration and enhance the two countries’ relations.
Deputy PM Dung is paying a working visit to Russia from September 17-22 to attend the 19th session of the Vietnam-Russia Intergovernmental Committee for Economic-Commercial and Scientific-Technological Cooperation.-VNA
Russia-based petroleum company, Rosneft, and the PetroVietnam Oil Corporation signed a long-term oil supply deal at the 20th International Economic Forum in Saint Peterburg, Russia on June 16.
Russian President Vladimir Putin has signed a federal law on ratifying the Agreement between the Russian and Vietnamese Governments on cooperation in geological survey and production of oil and gas.
The Vietnam-Eurasia Economic Union Free Trade Agreement (VN-EAEU FTA) will take effect on October 5, 2016, according to an announcement released by the Ministry of Industry and Trade (MoIT).
Politburo member Truong Thi Mai, who is Secretary of the Party Central Committee and head of its Commission for Mass Mobilisation, paid a working visit to Russia from September 10-13.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
While the US market has become more difficult to access due to new tax policies, Australia could play the role of a trade cushion, helping to reduce shocks and maintain export momentum for Vietnam's shrimp industry.
Vietnam Cycle Expo 2025 will coincide with the Vietnam Sport Show 2025, an international exhibition on sports and outdoor entertainment, expected to attract more than 20,000 visitors in the three-day event.
At the forum (Photo: VNA)
