Vietnam, Russia's Far East region seek to boost trade cooperation
A roundtable on prospects for trade cooperation between Vietnam and Russia's Far East region was held by the Far Eastern Federal University (FEFU) in Vladivostosk on June 15.
Commercial Sea Port Vladivostosk in the Russian Far East (Photo: AFP/VNA)
Moscow (VNA) – A roundtable on prospects for trade cooperation betweenVietnam and Russia's Far East region was held by the Far Eastern Federal University (FEFU) in Vladivostosk on June 15.
Participants heard that Vietnam recorded a strongeconomic rebound after the COVID-19 pandemic, and experienced a growth of 8.02%in 2022. The Southeast Asian nation welcomed 3.7 million foreign tourists inthe year.
The workshop also highlighted the significantcooperation between the two countries in the oil and gas sector, exemplified bythe two joint ventures, VietXoPetro in Vietnam and RusVietPetro in Russia.
In his speech, the Vietnamese Consulate Generalin Vladivostok Nguyen Dang Hien stressed that Vietnam’s efforts to maintainmacroeconomic stability and improve the investment environment have helped thecountry become a reliable destination for foreign investors.
There remains huge potential for the two countries to expand trade and tourism cooperation,he said, noting that it is necessary to resume direct flights between Vietnamand Russia and set up tourism promotion offices in each country.
The Russian government may also consider visa exemption for Vietnamese touristsfor 15 days to stimulate tourism demand, he added.
Meanwhile, chief of the Vietnam trade mission in the Far East Nguyen Hong Thanh saidthe region plays an important role in the Russian government's "pivot to the East" policy.
According to Thanh, themost prominent event in the economic and trade relations between the Far Eastregion and Vietnam is the resumption of a container shipping route by FESCOto deliver goods from Hai Phong and HCM City of Vietnam to Russia, and vice versa.
FESCO is planning to build a transshipment point at HCM City port to forwardRussian goods to further markets such as Indonesia, Malaysia, Thailand,Myanmar, and India and vice versa.
Besides FESCO, other operators such as OOO Transit and AO Transinergi have alsostarted operating maritime routes from the Far East to Vietnam, Thanh said.
He noted that the Far East will be a good investment destination for Vietnamesebusinesses if there is a channel to provide sufficient information for theVietnamese business community.
Vietnamese enterprises can consider cooperating with partners in the Far East regionin potential fields such as civil and industrial construction, furniture production,coal and mineral mining, high-tech development, and food processing, he said./.
Vietnamese Ambassador to Russia Dang Minh Khoi highly valued the Legislative Assembly of Saint Petersburg’s support for relations between the two countries while meeting with Vice Chairman of the Assembly Nikolai Bondarenko on May 17.
The Vietnam-Russia Traditions and Friendship Foundation and Herzen University has signed a Memorandum of Understanding to support the operation of the Russian open education centres opened by the university in Hanoi and Ho Chi Minh City.
Vietnamese Ambassador to Russia Dang Minh Khoi had a working session with leaders of the Russian News Agency TASS at its headquarters in Moscow on June 1.
A delegation from the Party Committee of the Central Agencies' Bloc, led by its Secretary Nguyen Van The, worked with leaders of the Communist Party of the Russian Federation (KPRF) and the ruling United Russia (UR) Party on June 13 as part of their working trip to Russia.
While German consumers are familiar with Vietnamese products such as coffee, seafood, tea, and spices, many other quality items remain relatively unknown in the market. The Selgros event not only helped introduce Bac Giang lychee to German consumers but also provided them with the opportunity to experience other Vietnamese agricultural products.
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.
Commercial Sea Port Vladivostosk in the Russian Far East (Photo: AFP/VNA) 
