Vietnam-Russia high-level business dialogue opens in Hanoi

The Vietnam-Russia high-level business dialogue was held in Hanoi on January 15, under the co-chair of Prime Minister Pham Minh Chinh and his Russian counterpart Mikhail Mishustin.

The event drew the participation of nearly 100 leading enterprises from the two countries, operating in various fields including trade, investment, energy, transport, logistics, agriculture and construction.

The dialogue featured 3 sessions, focusing on important fields of trade, investment and agriculture; energy; and transport and logistics.

Addressing the event, PM Chinh stressed that Vietnam commits to continuing to improve the investment environment and streamline administrative procedures, creating the most favorable conditions for Russian enterprises to develop their operations in the country.

He called on the two countries to promote diversification across products, supply chains, and markets to boost their products' access to each other's markets. He also asked ministries, sectors, localities, and businesses from both sides to strengthen connectivity and share information about their respective needs and potentials.

It is necessary to enhance links in air, maritime, and railway transport to ensure that goods could reach more consumers in both markets, he said.

Russian PM Mishustin stressed Russia's readiness to assist Vietnamese businesses to expand operations and seize opportunities in Russia.

He pledged support for fostering logistics infrastructure connectivity, creating an optimal business environment, and encouraging strategic cooperation projects.

Bilateral trade reached $4.57 billion in 2024, a year-on-year increase of 25%. As of November 2024, Russia had 199 investment projects in Vietnam with total registered capital of approximately $990 million, while Vietnam maintained 16 valid investment projects worth $1.6 billion in Russia.