Bashkortostan seeks more investment from Vietnam

The Republic of Bashkortostan of the Russian Federation is willing to create the most favourable conditions for Vietnamese firms to invest in the country, said Bashkortostan’s President Rustem Khamitov told Vietnamese Ambassador to Russia Nguyen Thanh Son.

During a meeting with the Vietnamese diplomat, who led a Vietnamese working delegation to visit Bashkortostan from April 22-24, Khamitov said his country hopes to attract more investors using high technologies in cattle-breeding and dairy production as Russia now lacks about 10 million tonnes of milk.

The two sides discussed the possibilities for implementing projects in the industrial-agricultural complex.

bashkortostan seeks more investment from vietnam hinh 0
A corner in TH True Milk company
Introducing his country’s potential to the guest, Khamitov said Bashkortostan boasts abundant natural resources and developed industrial and agricultural sectors and breeding. 

The local authorities are encouraging investment in planting vegetables in glass houses, he said, expressing his joy at Vietnamese dairy firm TH True Milk’s decision to invest in the country’s agricultural sector. 

For his part, Ambassador Son said he believes the relations between Vietnam with Russia in general and Bashkortostan in particular will be reinforced and strengthened in the coming time. 

He committed to making every effort to accelerate the implementation of cooperation projects. 

While briefing the host on the market research tour of Bashkortostan, TH True Milk Chairwoman Thai Huong said her firm has decided to pour 220 million USD into breeding dairy cows and processing products from cow milk in the republic.

She suggested the local authorities make it easy for the group to carry out the project. 

Agreeing with Huong, President Khamitov approved the establishment of a working group led by Deputy Prime Minister Irek Mukhametdinov to work with the Vietnamese company to perform the project. 

Earlier the same day, the Vietnamese delegation had a working session with Prime Minister Mardanov, during which the two sides discussed cooperation orientations and investment attraction from Vietnam to Bashkortostan. 

Ambassador Son called for stronger efforts from both sides to further their trade links, especially when the free trade agreement between Vietnam and the Eurasia Economic Union has officially taken effect.

Bilateral trade between Bashkortostan and Vietnam stands at about US$15 million – a modest figure compared to the two countries’ potential.


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