Speaking at the ASEAN-Russia Business Forum on 17/6, Prime Minister Le Minh Hung emphasized that energy security is an urgent challenge for sustainable growth and development. He proposed that energy become a main pillar in the relationship between the two sides. According to him, the potential for investment and cooperation between ASEAN and Russia is significant, especially in clean energy, liquefied natural gas (LNG), hydrogen, offshore wind power, and energy-saving technologies.

Energy has long been an important area of cooperation between Vietnam and Russia. Vietnam aims to work with Russia and ASEAN countries to promote practical cooperation projects in clean energy and green technology, contributing to regional energy security.

Prime Minister Le Minh Hung speaking at the ASEAN-Russia Business Forum, 17/6. Photo: VGP

Beyond energy, Prime Minister Le Minh Hung also urged ASEAN and Russia to increase cooperation in building stable, flexible, and resilient supply chains. He suggested that developing sea and rail transport routes connecting Russia's Far East with Southeast Asia would boost trade and create investment opportunities for businesses on both sides. He also called on businesses to leverage existing economic cooperation frameworks, particularly free trade agreements between the Eurasian Economic Union (EAEU) and some ASEAN countries. "Vietnam is ready to act as a bridge, contributing to promoting trade and investment cooperation between ASEAN, the EAEU, and Russia," he stated.

Another important cooperation direction highlighted by Prime Minister Le Minh Hung is technology, innovation, and digital transformation. He noted that ASEAN and Vietnam are among the fastest-growing digital markets globally. In Vietnam, innovation and science-technology are key drivers for development. Vietnam is prepared to facilitate Russian businesses in expanding cooperation in areas such as artificial intelligence (AI), cybersecurity, digital education, and digital health. He also stressed the need for ASEAN and Russia to promote programs supporting tech businesses and startups, fostering a more connected innovation ecosystem between them.

The Prime Minister affirmed Vietnam's readiness to work with Russia and ASEAN countries to transform potential into concrete projects, connections into business opportunities, and trust into new growth drivers.

Prime Minister Le Minh Hung and leaders of other countries attended the opening ceremony of the ASEAN-Russia Business Forum. Photo: VGP

At the forum, many delegates also recognized the significant potential of cooperation in energy and food security, especially amidst global supply chain volatility. ASEAN Secretary-General Kao Kim Hourn proposed that ASEAN and Russian businesses focus on exploiting opportunities in these areas, as well as supply chain connectivity and digital transformation. He highlighted key ASEAN projects like the ASEAN power grid (APG) and the ASEAN digital economy framework agreement (DEFA) as strong foundations for businesses to collaborate.

Thai Prime Minister Anutin Charnvirakul observed that rapid science-technology development and global supply chain instability present both opportunities and challenges for the region and the world. He proposed that both sides focus on promoting connectivity, trade-investment, energy cooperation, food security, and the creative economy. Representatives of ASEAN and Russian businesses expressed hope that their decades-long cooperation will facilitate expanded investment and trade in the future.

Prime Minister Le Minh Hung attended the 35th ASEAN-Russia Commemorative Summit and engaged in bilateral activities in Kazan from 16-18/6, at the invitation of President Vladimir Putin. This marks the Prime Minister's first foreign trip in his new capacity to Russia, a traditional and close friend, and a Comprehensive Strategic Partner of Vietnam.

Phuong Dung