Forum explores Vietnam-Bashkortostan business partnership potential
A business forum between Vietnam and the Republic of Bashkortostan, Russia, was held in Hanoi on January 11, exploring business partnership potential between the two sides.
Participants at the business forum in Hanoi on January 11 (Photo: VNA)
Hanoi (VNA) – A business forum between Vietnamand the Republic of Bashkortostan, Russia, was held in Hanoi on January 11,exploring business partnership potential between the two sides.
The forum was held by the Vietnam Chamber ofCommerce and Industry (VCCI) and the Russian trade office in Vietnam on theoccasion of a working visit by Bashkortostan Prime Minister Mardanov RustemHabibovich.
Opening the event, VCCI Vice Chairman Doan DuyKhuong highly valued cooperation between Vietnam and the federal subjects ofRussia, including Bashkortostan.
He noted that Vietnamese firms have invested in20 projects in Russia with total registered capital of nearly 3 billion USDwhile Russian companies have 114 investment projects worth 2.08 billion USDhere.
That modest investment is expected to expand inthe future, he said, adding that bilateral trade is thriving with an averagegrowth rate of 3.6 percent each year. Vietnam’s trade revenue withBashkortostan is just about 15 million USD, most of which is Bashkortostan’sexports to Vietnam.
Khuong said to boost trade between his countryand Bashkortostan, it is necessary to encourage businesses to do market surveyswhile increasing information exchange and the introduction of each other’sbusiness climate.
Bashkortostan has many advantages in the spheresVietnam is interested in such as textile-garment, footwear, consumer goods,agricultural production and fisheries, he added.
Kharinov Vyachslav Nikolaevich, head of theRussian trade office in Vietnam, said during this visit, the Bashkortostan PMis accompanied by business delegates from the oil and gas, energy, medicalequipment and food processing sectors. Many of them want to seek Vietnamesepartners in food processing and the production of milk, microbiologicalfertiliser and medical equipment.
Though the current bilateral trade remainsmodest, Bashkortostan believes in Russian goods’ competitiveness in the Vietnamesemarket, he said, adding that the potential in industrial cooperation is alsosignificant thanks to the Vietnam-Eurasian Economic Union Free Trade Agreement.Bashkortostan pledges tax and land incentives for Vietnamese firms, the tradeofficial said.
He also suggested the two sides strengthenaffiliation in tourism.-VNA
The Republic of Bashkortostan is willing to discuss economic cooperation in every form with Vietnam, particularly in establishing joint ventures in farming, machinery manufacturing and oil processing
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Participants at the business forum in Hanoi on January 11 (Photo: VNA) 
