Russian SMEs contemplate Vietnam expansions

(VOV) - Russia has organised four fact-finding tours of Vietnam for small and medium-sized technology enterprises (SMEs) since 2012, according to the Voice of Russia.

The latest drew to a close in November as part of a project working to translate the traditional friendship and cooperation between Vietnam and Russia into closer interactions on the SME level.

The number of Russian SMEs operating in Vietnam remains modest. Project Manager Liubov Strozhaeva said she hopes the ongoing initiative will address the shortcomings in market information and communications limiting the scale of investment.

She noted at workshops Russian businesses were fully updated on Vietnam’s latest market information, the state of domestic trading, and preferences.

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Russian businesses had the chance to work with representatives of Vietnamese ministries, departments, trade offices, and high-tech parks, and met with their Vietnamese counterparts.

The Hanoi-based Russia Culture and Science Centre is an ideal place for Russian businesses to keep abreast of Vietnam’s information.

Eleven out of the 19 Russian SMEs entering Vietnam during 2012–2013 now have regular contact with Vietnamese partners.

Strozhaeva said interested Russian SMEs are preparing for another Vietnam fact-finding tour in April 2014.

The two sides have plans for energy-saving and biotechnology joint ventures in the near future.