Vietnam, Russia’s Kursk province reinforce partnership

Vietnamese firms converged at a business forum in Hanoi on December 7 to learn about the potential of doing business in the Russian province of Kursk.

Speaking at the event, Chairman of the Kursk committee on external relations Grebennikov Vicktor Nikolaevich said Kursk boasts a convenient location and temperate climate suitable for cultivation and animal breeding. The province produces different types of cereals, high-quality meat and dairy products, and develops heavy and light industries, and mining.

Hoang Quang Phong, Vice Chairman of the Vietnam Chamber of Commerce and Industry (VCCI), said Vietnam-Russia ties have been strengthened in the pillar fields of trade, investment, oil and gas, and energy. Two-way trade is on the upward trend.

Vietnam has so far invested in 20 projects worth 3 billion USD in Russia while Russian businesses have poured 2.08 billion USD into 114 projects in Vietnam.

 Kursk province and Vietnam could supplement each other in the fields of industry, agriculture, food, communications and mining, Phong said.

Tran Kim Oanh, Director of the Industry and Trade Investment Promotion Centre from the Ministry of Industry and Trade’s Vietnam Trade Promotion Agency, said two-way trade between Vietnam and Kursk hit 2 million USD last year.

According to Oanh, Kursk exports mechanical products, electrical appliances, chemicals, consumer goods and food to Vietnam.

The two sides can expand collaboration in industry, nuclear power, agriculture and processing, education - training, and tourism.

A number of Kursk-based firms such as the Kursk nuclear power plant, Spektr-Pribor, Conti-Rus are interested in expanding partnership with Vietnam.

VNA