During Prime Minister Pham Minh Chinh's official visit to the Russian Federation, Deputy Prime Minister Dmitry Chernychenko affirmed Russia's commitment to strengthening its comprehensive strategic partnership with Vietnam. Speaking at the Vietnam - Russian Business Forum in Moscow on 24/3, Chernychenko emphasized Vietnam's role as a reliable partner in the Asia - Pacific region.

Deputy Prime Minister of the Russian Federation Dmitry Chernychenko spoke at the forum. Photo: VGP

Deputy Prime Minister Chernychenko commended Vietnam's growth rate and economic development strategy. He stated Russia's readiness to cooperate and invest in Vietnam across various sectors, including energy (oil, gas, coal), agricultural products (meat, wheat, fertilizers), transport (aviation, maritime, rail), tourism, and human resource training. Russia also aims to establish new transport routes and effectively utilize the free trade agreement between Vietnam and the Eurasian Economic Union, of which Russia is a member.

"Russia is ready to expand cooperation in new energy sectors and renewable electricity, contributing to green transition and sustainable development, as evidenced by the agreement just signed by the two sides on building a nuclear power plant in Vietnam", Dmitry Chernychenko said.

The Russian government leader highlighted the significant potential for trade and investment cooperation between the two countries. He encouraged businesses from both nations to continue exploring investment opportunities, thereby contributing to the consolidation and development of their respective economies amidst global challenges.

Last year, bilateral trade reached 4.77 billion USD. Russia currently has 199 projects in Vietnam with a total registered capital of 990 million USD, ranking 26th among 147 countries and territories investing in Vietnam. Conversely, Vietnam has 16 projects in Russia with a total registered capital of 1.6 billion USD.

Prime Minister Pham Minh Chinh spoke at the forum. Photo: VGP

At the forum, Prime Minister Pham Minh Chinh outlined Vietnam's priority for energy development to meet a target growth rate of 10% or more. He proposed that Russia cooperate and invest in developing a peaceful atomic energy ecosystem in Vietnam with a 100-year vision. Additionally, he called for increased bilateral cooperation in oil and gas exploration, exploitation, processing, and clean energy development.

In education, the Prime Minister welcomed Russian investment in establishing a university in Vietnam, leveraging Russia's strengths in basic sciences. Regarding transport, he suggested increasing cooperation in rail transport between the two sides.

Under the witness of Prime Minister Pham Minh Chinh and government leaders from both countries, businesses exchanged four cooperation agreements in oil and gas, maritime transport, rail, and logistics.

On the same day, Prime Minister Pham Minh Chinh visited and worked with Zarubezhneft, a leading partner of Vietnam in the oil and gas sector. Zarubezhneft has over 40 years of cooperation with the Vietnam National Oil and Gas Group (PVN) through two joint ventures: Vietsovpetro in Vietnam and Rusvietpetro in Russia, focusing on geological exploration and oil and gas exploitation.

Zarubezhneft's leadership proposed expanding cooperation with Vietnamese partners into new areas, including a 1 GW offshore wind farm project and joint projects in third countries.