Deputy Prime Minister Hoang Trung Hai and Russia’s First Deputy Prime Minister Igor Shuvalov discussed ways to further promote future economic and trade links between Vietnam and Russia.
A meeting of the Vietnam-Russia Intergovernmental Committee for Economic-Commercial and Scientific-Technological Cooperation (Source: VNA)
Hanoi (VNA) - Deputy Prime Minister Hoang Trung Hai and Russia’s First Deputy Prime Minisꦏter Igor Shuvalov discussed ways to further promote future economic and trade links between Vietnam and Russia during their talks in Hanoi on December 16.
Hai and Shuvalov – the co-chairmen of the Vietnam-Russia Intergovernmental Committee for Economic-Commercial and Scientific-Technological Cooperation, reviewed the implementation of the minute of the committee’s 17th meeting in Vliadivostok in September last year.
They assessed that bilateral cooperation in trade and investment has developed, with key projects being implemented effectively.
Russia had run 113 direct investment projects with a total capital of 2 billion in Vietnam by the end of October this year, ranking 17th among 101 countries and territories investing in Vietnam.
Two-way trade reached 2.5 billion USD last year and 1.8 billion USD in the first ten months of this year. Vietnam has invested 2.4 billion USD in 20 projects in Russia.
The two sides stressed the need to accelerate the ratification of the free trade agreement between Vietnam and the Eurasia Economic Union, aiming to step up economic and trade links between Vietnam and the union’s members in general and Russia in particular.
Regarding energy cooperation, the two sides focused on the construction of the Ninh Thuan 1 nuclear power plant and other projects in oil and gas and electricity.
The two Deputy PMs expressed their pleasure with effective operations of Vietnam-Russia oil and gas joint ventures, saying that the two sides continue to expand new projects in Vietnam’s continental shelf, Russian territory and third countries.
They also agreed on future measures to promote collaboration in other fields such mining, finance-banking, information and communications, science-technology, and education-training.
The two Deputy PMs signed a minute of the talks, which affirmed commitment to fostering bilateral cooperation in the coming time.-VNA
Russian First Deputy Prime Minister Igor Shuvalov has announced that Russia and Vietnam are likely to sign an agreement on the establishment of a free trade area (FTA) next year.
The Vietnam-Russia Intergovernmental Committee for Economic, Commercial, Scientific and Technological Cooperation held its 16th session in Hanoi from October 15-16.
The 17th session of the Vietnam-Russia Inter-Governmental Committee on Economic-Trade and Scientific-Technological Cooperation opened in Vladivostok on September 5.
Vietnam and Russia are stepping up efforts to conclude negotiations for the signing of a free trade agreement (FTA) between Vietnam and the Customs Union of Russia, Belarus and Kazakhstan in early 2015.
The article by Cuba’s Inter Press Service detailed how Vietnamese private enterprise Agri VMA leased 1,000 ha of land in Los Palacios district, Cuba’s westernmost province of Pinar del Río, for rice cultivation over a three-year period. The project’s first harvest in 2025 recorded an impressive yield of 7.2 tonnes per hectare, far exceeding the local average of 1.6 tonnes.
During the visit, office representatives held a working session with the Tipaza Chamber of Commerce and Industry and met with several prominent local businesses operating in key sectors including industry, agriculture, fisheries, food processing, chemicals, pharmaceuticals and plastics.
A Nordic delegation to Vietnam International Sourcing 2025 in September will feature leading names in retail, consumer goods, logistics, and sustainable manufacturing, including global fashion giant H&M, offering fresh prospects for partnerships in fashion, textiles, and green supply chains.
With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
Effective from the date of signing on June 18, the decision halts procedures outlined in the 2005 Memorandum of Understanding (MoU) between the governments of Vietnam and Laos on the initial implementation of the Greater Mekong Subregion (GMS) Cross-Border Transport Facilitation Agreement at the Lao Bao–Densavan border gate.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
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.
A meeting of the Vietnam-Russia Intergovernmental Committee for Economic-Commercial and Scientific-Technological Cooperation (Source: VNA)
