Russian and Vietnamese businesses boost trade links

The seminar focused on the fields of construction, infrastructure, modern equipment, smart services, health care, beauty products of natural origin, and high-end food serving hotels and tourists.

Those in attendance included general directors, major shareholders, marketing directors of roughly 40 companies operating in many fields in Russia, alongside business representatives that have made great contributions to promoting trade activities between the two nations. Among them are companies that have worked with Vietnamese partners or those who are looking for Asian partners.

At the seminar, participants offered outstanding assessments of Vietnamese economic development achievements, emphasising that the nation is a member of dozens of new-generation free trade agreements. Indeed, it is also showing confidence in new fields such as semiconductor technology, fast digitization, coverage of all fields, and especially as an exporter of products familiar to Russian businesses.

Do Thi Hong Xoan, president of the Vietnam Hotel Association, affirmed her organisation’s readiness to welcome and support Russian businesses in learning about and establishing partnerships, as well as pledging incentives when participating in the project, such as creating conditions for Russian businesses' products to access Vietnamese commercial systems through the shortest route possible.

Mai Hong, representative of the Vietnam Automation Association in Russia, underlined the importance of conducting direct contacts and product introductions.

Hong cited the case that after a trade promotion trip to Vietnam, a Russian business which had the initial goal of signing an agreement with a Vietnamese business partner, successfully signed a co-operation agreement with a number of Vietnamese provinces.

She said that she believes this proves the effectiveness of the project. Regina Budarina, director of the Business Center of the Russia-Vietnam Friendship Association, said that based on this success the project organisers plan to conduct the next survey to six major provinces and cities of Vietnam ahead in March.

For his part, Alexander Karpov, chairman of the Russia-Vietnam Trade Association, assessed that the seminar had brought a positive impact, helping to strengthen mutual understanding between businesses of the two countries.

Karpov emphasised that both sides also have great similarities in business relations, in addition to their long-standing traditional relationship.

The conference also witnessed the signing ceremony of numerous co-operation agreements in the field of science and technology between the Vietnam Automation Association and the Russia-Vietnam Trade Association, between the Russia-Vietnam Friendship Association, and the Russia-Vietnam Trade Association.