Vietnamese investment in Far East encouraged

President Sang told his guest that the good Viet Nam-Russia cooperation in many fields has been further enhanced.

Particularly, in the first four months in 2013, two-way trade between Viet Nam and Russia was US$861 million, a 19% increase from the same period last year.

By now, Russian companies have invested in 93 projects capitalising over US$2 billion in Viet Nam, ranking 18th among countries and regions that have investment in the country.

The President suggested the two sides specify the contents of the comprehensive strategic partnership during Ishaev’s visit, saying that political trust lays a strong foundation for the two countries’ ministries and departments to increase their cooperation, and for the Far East’s economic development.

Welcoming the two parties’ preparations for the second round of negotiations for a bilateral free trade agreement, the President Sang expressed the country’s support for Vietnamese companies investing in the Far East.

He proposed the Russian side devises concrete incentives for Vietnamese businesses and workers in the Far East.

V.I. Ishaev, for his part, stated that his ministry has worked with relevant Russian agencies to develop a strategic socio- economic development scheme for the Far East until 2025.

The region is focusing on developing spearhead economic sectors such as natural resources exploitation, chemical industry, shipbuilding, aquaculture, the trans-Siberian railway and airport, which will give the two countries’ businesses a chance to take advantages of their strengths, he said.

By Ngoc Van