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Energy, oil, gas – pillar in Vietnam-Russia cooperation

Update: 07-06-2024 | 14:22:55

Within the framework of the 27th St. Petersburg International Economic Forum (SPIEF 2024) in Russia, a Vietnamese delegation on June 6 held working sessions with representatives from the Russian Ministry of Economic Development, St. Petersburg’s foreign affairs committee and Russian companies – Novatek and Sistema.

Illustrative photo (Photo:

At the meeting with Deputy Minister of the Russian Ministry of Economic Development Vladimir Ilychev, the two sides discussed economic and trade cooperation between the two countries as well as their coordination in the Vietnam-Russia Inter-Governmental Committee on Economic, Trade and Scientific-Technological Cooperation.

Both sides agreed that the inter-governmental committee is an important mechanism to promote the implementation of high-level agreements, remove obstacles, and contribute to strengthening the comprehensive strategic partnership between Vietnam and Russia. The two countries’ ministries and sectors are actively preparing for the 25th meeting of the committee that will be held this year.

Ilychev highly appreciated the participation of the Vietnamese delegation in the SPIEF 2024, adding that it contributes to strengthening the two countries’ economic cooperation in general and creates an opportunity for the two sides to discuss responses to global challenges.

The two sides agreed that there remains large room for their bilateral cooperation and affirmed that energy and oil and gas are a pillar of their cooperation.

They agreed to create favourable conditions for their businesses to cooperate effectively and expand their partnership towards new areas such as clean, green energy transition and sustainable development.

At the meeting between the delegation and the St. Petersburg authority, the two sides appreciated the cooperation between Vietnamese localities, especially Ho Chi Minh City and St. Petersburg.

They agreed to jointly organise celebrations of several major anniversaries of Vietnam and Russia in 2024 – 2025.

On this occasion, the Vietnamese side thanked St. Petersburg for organising people's diplomacy activities such as the Vietnam Week and scientific seminars on relations between the two countries.

Meanwhile, the St. Petersburg authority wanted to expand and deepen cooperation with Vietnamese localities such as Hanoi, Khanh Hoa, and the Vietnam Union of Friendship Organisations in people-to-people exchanges.

At the meeting with executives of Novatek and Sistema, the Vietnamese delegation was informed that the groups hope to seek cooperation opportunities in Vietnam including liquefied natural gas production, offshore wind power, textile and garment export, electric ship production, pharmaceutical industry, tourism, and hotels.

The Vietnamese side affirmed that Vietnam always creates favourable conditions for foreign businesses, including Russian ones, to seek investment and business opportunities in Vietnam, based on compliance with the law and the Vietnam - Russia comprehensive strategic partnership./.


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