Five SMEs from Russia visited HCM City on September 8 to promote cooperation in innovative technologies, oil and gas, research and development and medicine, besides telecommunications and education.
Vietnam and Russia have enjoyed strong oil and gas cooperation. Illustrative image. Source: VNA
Five small and medium-sized firms from Russia visited HCM City on September 8 to promote cooperation in innovative technologies, oil and gas, research and development and medicine, besides telecommunications and education.
Organised by the Tomsk Chamber of Commerce and Industry in collaboration with the Vietnam Chamber of Commerce and Industry (VCCI), the Russia-Vietnam business event was attended by 30 Vietnamese enterprises.
Maxim Golikov, Chief Representative of the Russian Trade Office in Vietnam, said the Tomsk region in southeastern Siberia was the oldest and the leading Russian educational and scientific centre.
Small and medium-sized enterprises employ nearly half of the total working population of the Tomsk region.
Russian Prime Minister Dmitri Medvedev told a working session between Russian and Vietnamese businesses in April this year that the Russian Government has always supported bilateral cooperation projects.
He said the two countries have to promote business ties and develop B2B relationships with more investment and trade projects.
In May, Vietnam and the Eurasian Economic Union concluded a free trade zone agreement. A Vietnamese-Russian agreement on Vietnam providing the most favoured nation status to Russian suppliers and investors was also concluded.
Vietnamese and Russian enterprises are expected to get more opportunities to increase exports from that agreement.
In the middle of this month, a business delegation from HCM City, headed by Deputy Chairwoman of the municipal People's Committee Nguyen Thi Hong, will visit Moscow and Saint Petersburg to seek cooperation opportunities.
In November, the Vietnam Trade Promotion Agency will organise an exhibition in Moscow to promote Vietnamese exports for the Russian market. Another exhibition, entitled "Zarubezhexpo Vietnam," will be held in Hanoi.
At the same time, business delegates from Omsk province and Moscow city will visit Vietnam.
Golikov said the export of raw materials was no longer a key factor in bilateral trade. Items with added value have become the main export items, accounting for 50 to 60 percent of the total imports and exports.
Russia mainly exports machinery and vehicles to Vietnam, while Vietnam exports electronic products to that market.
Vietnam has invested 2.4 billion USD in 17 projects in Russia, while Russia has invested 1.9 billion USD in more than 100 projects in Vietnam.
Nguyen The Hung, Deputy Head of VCCI in HCM City, said in recent years, there had been a marked intensification of Russia-Vietnam cooperation, especially in the economic sectors.
The bilateral trade between two countries has increased from 400 million USD (2000) to 1.8 billion USD (2010), 2.7 billion USD (2013) and 3.7 billion USD (2014). It is expected to touch 10 billion USD by 2020, he said.
He said trade ties between Vietnam and Russia would see significant growth with the signing by the two countries in April of a cooperation agreement to implement 17 investment and trade projects, worth 20 billion USD.-VNA
ASEAN is an important partner of Moscow in the Asia-Pacific region and as such, Russia has actively strengthened economic and political activities with ASEAN member nations.
Permanent Deputy Head of the Party Central Committee’s Economic Commission Pham Xuan Duong held a number of working sessions with Russian economic officials and scholars in Moscow from August 11-14.
Minister of Industry and Trade Vu Huy Hoang joined about 5,000 delegates from 30 countries and territories at the Eastern Economic Forum 2015 in Vladivostok , Russia from September 3-5.
Minister of Industry and Trade Vu Huy Hoang has met with several Russian officials on ways to promote trade and investment connections between the two countries.
The latest order follows Vietjet’s commitment for 20 additional A330neo aircraft last month, bringing the airline’s total widebody aircraft on order to 40.
Minister of Finance Nguyen Van Thang acknowledged the target represents an important milestone for socio-economic development as well as a demonstration of the country’s aspiration for robust economic growth.
The price of E5 RON92 petrol is now capped at 20,631 VND (0.79 USD) per litre, up 1,169 VND from the previous adjustment, while RON95-III costs no more than 21,244 VND per litre, up 1,277 VND.
While German consumers are familiar with Vietnamese products such as coffee, seafood, tea, and spices, many other quality items remain relatively unknown in the market. The Selgros event not only helped introduce Bac Giang lychee to German consumers but also provided them with the opportunity to experience other Vietnamese agricultural products.
The article by Cuba’s Inter Press Service detailed how Vietnamese private enterprise Agri VMA leased 1,000 ha of land in Los Palacios district, Cuba’s westernmost province of Pinar del Río, for rice cultivation over a three-year period. The project’s first harvest in 2025 recorded an impressive yield of 7.2 tonnes per hectare, far exceeding the local average of 1.6 tonnes.
During the visit, office representatives held a working session with the Tipaza Chamber of Commerce and Industry and met with several prominent local businesses operating in key sectors including industry, agriculture, fisheries, food processing, chemicals, pharmaceuticals and plastics.
A Nordic delegation to Vietnam International Sourcing 2025 in September will feature leading names in retail, consumer goods, logistics, and sustainable manufacturing, including global fashion giant H&M, offering fresh prospects for partnerships in fashion, textiles, and green supply chains.
With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
Effective from the date of signing on June 18, the decision halts procedures outlined in the 2005 Memorandum of Understanding (MoU) between the governments of Vietnam and Laos on the initial implementation of the Greater Mekong Subregion (GMS) Cross-Border Transport Facilitation Agreement at the Lao Bao–Densavan border gate.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
Vietnam and Russia have enjoyed strong oil and gas cooperation. Illustrative image. Source: VNA
