Russian businesses pour over US$2 billion into Vietnam
(VOV) - Russian businesses have directly invested in 113 projects in Vietnam with a total registered capital reaching US$2.066 billion.
With these valid projects Russia is ranking 17th among 105 foreign investors in the country, according to the Foreign Investment Agency (FIA).
However, since early this year Russian investment into Vietnam has been modest with only more than US$12 million expanded on 8 projects.
The FIA reported that the biggest was the US$1 billion project to build a bus component manufacturing plant of the Bus Industrial Center Co., Ltd. from Russia which received an investment certificate in 2013.
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However, the project has not been implemented. Taking into account all active projects, the real Russian investment value in Vietnam is just over US$1 billion.
The manufacturing and processing industry attracted the lion’s share of Russian investment with 37 projects totally valued at US$1.13 billion, accounting for 32.7% of the number of projects and 57.4% of the total registered capital.
Mining ranked second with US$581.2 million or 29.5% while real estate trading came third with US$72.7 million or 3.7%.
Binh Dinh province topped among 24 provinces and cities having Russian investment, followed by Hanoi, Ba Ria-Vung Tau, Phu Yen and HCM City.
Currently, among Russian projects in Vietnam, Vietsopevtro joint venture is considered a typical example for the successful cooperation between the two countries.