Southern province seeks more investment from Russia
The southern province of Ba Ria-Vung Tau, the base of the Vietnam-Russia oil and gas joint venture Vietsovpetro, wants to attract more investment from Russian businesses under bilateral cooperation agreements.
Ba Ria-Vung Tau (VNA) –The southern province of Ba Ria-Vung Tau, the base of the Vietnam-Russia oiland gas joint venture Vietsovpetro, wants to attract more investment fromRussian businesses under bilateral cooperation agreements.
Local officials expressed theintention at a working session on May 7 with a monitoring team of the National Assembly’sCommittee for External Relations on the implementation of agreements betweenVietnam and Russia.
Vice Chairman of the provincialPeople’s Committee Nguyen Thanh Tinh said Vietsovpetro has made important contributionsto local economic development.
He added that Vietsopetro aside,economic ties between Ba Ria-Vung Tau and other Russian localities remain belowexpectations, despite the locality’s efforts to seek cooperation opportunitiesand partners.
The province’s officials explainedthat the great distance between the two countries and a lack of orientation forcooperation by the government have caused difficulties to the search for and establishmentof ties with Russian partners.
Ba Ria – Vung Tau is committedto providing the biggest possible support for Russian enterprises to invest anddo business in the province, they said.
According to the province’sreports, Ba Ria –Vung Tau has so far signed cooperation agreements in economic,cultural and social fields with four Russian localities, which are Rostov and Sverdlovskprovinces (in 2000), Nenetskiy autonomous region (2010) and Bashkortostan Republic(in 2017). The province plans to ink a plan of actions to implement the MoU oncooperation with the Nenetskiy autonomous region for 2019-2021 this year.
Head of the NA monitoring team,Chairman of the NA’s Committee for External Relations Nguyen Van Giau agreedthat the Government should revisit agreements signed with Russia with a view toimproving the efficiency of cooperative ties.-VNA
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Illustrative image (Source: VNA) 
