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Monday, 5/1/2026 | 19:49 GMT+7

Russia's largest private conglomerate seeks to boost localization in Vietnam

AFK Sistema, the largest private conglomerate of the Russian Federation, aims to increase its localization rate, transfer technology, and train personnel for Vietnam.

During a meeting with Prime Minister Pham Minh Chinh on 5/1, Vladimir Petrovich Yevtushenkov, Chairman of AFK Sistema, stated that the company intends to expand partnerships and investments with countries in the Asia-Pacific region, with Vietnam consistently serving as a reliable destination and partner.

Yevtushenkov highly values Vietnam's potential and expressed a desire to increase cooperation with Vietnamese enterprises. He affirmed that AFK Sistema is prepared to boost localization, transfer technology, and train personnel for Vietnam, aiming to bring long-term effectiveness and benefits for both sides.

Prime Minister Pham Minh Chinh receives Vladimir Petrovich Yevtushenkov, Chairman of AFK Sistema, Russian Federation, on 5/1. *Photo: VGP*.

AFK Sistema is the largest private conglomerate in the Russian Federation, employing approximately 300,000 staff. Established in 1993 in Moscow, Russian Federation, the company invests domestically and internationally across various sectors including telecommunications, digital services, high technology, e-commerce, healthcare, timber industry, agriculture, pharmaceuticals, and hospitality services. Its future goal is to become a leading global high-tech investment fund.

During the reception, Prime Minister Pham Minh Chinh emphasized that Vietnam consistently values and seeks to continuously develop its traditional friendship and comprehensive strategic partnership with the Russian Federation.

The Prime Minister praised AFK Sistema's engagement with major Vietnamese conglomerates and enterprises. He urged the conglomerate to increase its investments and cooperation with businesses in Vietnam, contributing to the realization of high-level agreements.

According to the Prime Minister, the government supports businesses from both nations in establishing direct relationships and increasing cooperation in areas where Russia possesses strengths and Vietnam has significant needs, such as: database construction and connectivity, information technology, digital transformation, cybersecurity, pharmaceuticals, nuclear energy for peaceful purposes, telecommunications, and developing the crypto asset market in Vietnam.

Concurrently, the government leader also proposed that both sides promote projects involving underground and outer space exploration, including developing subway systems in Ha Noi and TP HCM, and tourism cooperation.

On this occasion, the Prime Minister announced that Vietnam is preparing to implement a national single-window investment mechanism. He directed relevant ministries and agencies to support the conglomerate in implementing cooperation activities, trade promotion, and investment in Vietnam.

Phuong Dung

By VnExpress: https://vnexpress.net/tap-doan-tu-nhan-lon-nhat-nga-muon-tang-noi-dia-hoa-tai-viet-nam-5002135.html
Tags: investment cooperation Russian enterprises Russia Vietnam economy

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