Russia - Russian investment in Vietnam to increase

Russian investment in Viet Nam would increase significantly after Russia officially joined the World Trade Organisation late this month, said deputy head of the Ministry of Industry and Trade's European Market Department Dang Hoang Hai.

In the past, many Russian enterprises showed an interest in investing in aircraft assembly and repair in Vietnam but they failed to do so, Hai told Dau Tu (Vietnam Investment Review) newspaper. After Russia joins the WTO, Russian firms would surely have more confidence to invest in these sectors in Vietnam due to the similar and favourable investment conditions in the two countries.

In addition to the aviation industry, Russian businesses have also expressed an interest in enhancing their presence in nuclear energy, oil and gas, communications, agriculture, automobiles, and equipment for mining, construction and electricity sectors.

During the fifth session of the Trade and Investment Sub-Committee under the Vietnam-Russia Intergovernmental Committee for Economic, Trade, Scientific and Technological Co-operation held in Moscow in October, the Russian delegation urged the Vietnamese Government to further facilitate Russian investment in the country.

Russia invested US$38 million in five new projects in Vietnam during the first 11 months of this year, according to the Ministry of Planning and Investment.

The latest addition has brought total Russian investment in the country to $930 million to date, the ministry said, adding that these figures, still lagged behind the potential.

Vietnam News

Business & Investment Opportunities

YourVietnamExpert is a division of Saigon Business Corporation Pte Ltd, Incorporated in Singapore since 1994. As Your Business Companion, we propose a range of services in Consulting, Investment and Management, focusing three main economic sectors: International PR; Healthcare & Wellness;and Tourism & Hospitality. We also propose Higher Education, as a bridge between educational structures and industries, by supporting international programs. Sign up with twitter to get news updates with @SaigonBusinessC. Thanks.