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Photo: VGP/Quang Hieu
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The PM made that statement at the Viet Nam-Russia Business Forum, which was held in Moscow, Russia on May 18.
The two-way trade turnover reached US$2.2 billion in 2015 and US$600 million in the first quarter of 2016. Russia has poured US$2 billion in 114 projects in Viet Nam and Viet Nam has invested in 20 projects in Russia, with a total registered capital of US$3 billion. The two nations have effectively enhanced cooperation in oil and gas projects.
To raise the two-way trade turnover to US$10 billion by 2020, Viet Nam and the Eurasian Economic Union (EEU) inked the Viet Nam-EEU Free Trade Agreement (FTA) in May 2015, which is expected to expand commodity, service and investment exchanges between the two sides.
PM Phuc introduced Viet Nam’s economic potentials, institutional reform orientations, business and environment improvement, affirming that the Vietnamese Government will facilitate the activity of foreign enterprises, including Russian ones, as well as tackle difficulties and obstacles for foreign investors to launch long-term operation in Viet Nam.
Over the recent years, the Vietnamese Government has made breakthroughs in institutions and joined new FTAs, said Chairman of the Viet Nam Chamber of Commerce and Industry Vu Tien Loc, promising to coordinate with the two sides’ business communities to raise the bilateral trade turnover to meet the Comprehensive Strategic Partnership.
The same day, the PM attended the opening ceremony of the Bank for Investment and Development of Viet Nam’s representative office in Moscow.
By Thuy Dung
