The meeting took place during the Russian Prime Minister’s official visit to Vietnam
Mikhail Mishustin and Prime Minister of Vietnam Pham Minh Chinh meet with representatives of Russian and Vietnamese business circles
Mikhail Mishustin and Prime Minister of Vietnam Pham Minh Chinh meet with representatives of Russian and Vietnamese business circles
Mikhail Mishustin and Prime Minister of Vietnam Pham Minh Chinh meet with representatives of Russian and Vietnamese business circles
Mikhail Mishustin and Prime Minister of Vietnam Pham Minh Chinh meet with representatives of Russian and Vietnamese business circles
Excerpts from the transcript:
Pham Minh Chinh (via interpreter): Esteemed guests, ladies and gentlemen,
Today, during the Russian Prime Minister’s official visit to Vietnam, the Ministry of Industry and Trade of Vietnam and the Russian Ministry of Economic Development are hosting a meeting with business representatives in order to invigorate ties between our countries. We would like to create favourable opportunities for Vietnamese and Russian enterprises to find suitable partners.
Representatives of Vietnam’s Ministry of Industry and Trade and the Government’s Executive Office, as well as the Ambassador of Vietnam to Russia and other comrades, are attending the meeting.
Allow me to introduce our esteemed Russian guests, including Deputy Prime Minister Dmitry Chernyshenko, the heads of the Foreign Ministry, the Ministry of Economic Development and the Ministry of Agriculture, as well as the Russian Ambassador Extraordinary and Plenipotentiary to Vietnam.
We are also joined by representatives of major Russian companies operating in various sectors, primarily in the economy and trade.
Today’s meeting will consist of discussions divided into three sections.
The first section focuses on cooperation.
Mr Mishustin, we would like to extend our warmest greetings and best wishes for the New Year to you and all those present.
Vietnam has longstanding relations with Russia and the former Soviet Union, which can be described as strong and meaningful. Over the years, we have received generous assistance from the Soviet Union and Russia, and we will always remember this support.
We have established a comprehensive strategic partnership with Russia. It is important to note that while political relations and the mutual sentiments of Vietnamese and Russian citizens are sincere, economic cooperation has not always kept pace with these political ties or the feelings of our citizens. We have yet to fully harness our potential.
During today’s meeting, we would like to hear from enterprises directly involved in enhancing economic cooperation and cultural ties between our countries. We will explore various solutions and hope that these discussions should yield tangible results.
We have selected three key topics for discussion today, which include trade and transportations, areas where Russia holds strong advantages. I hope that interactions between entrepreneurs from our countries will help invigorate bilateral economic cooperation. The most complex issue remains mutual payments and settlements. I urge businesses to approach this challenge with flexibility and creativity, as they are best positioned to find solutions. Of course, the governments will provide support to ensure sustained, safe and effective operations.
We would like to once again express our gratitude to Mikhail Mishustin, the Russian Deputy Prime Ministers and all Russian friends for taking part in this meeting.
Mikhail
Mishustin: Prime Minister Pham Minh Chinh, colleagues and business
representatives.
First of all, I would like to thank our Vietnamese partners for organising this meeting. I hope that we will be able to discuss all the issues pertaining to the prospects of cooperation between the business representatives of Russia and Vietnam.
Our businesspeople work hard and touch base on joint projects regularly. Quite many new initiatives are in the pipeline.
Vietnam is an important partner for us in Southeast Asia. This cooperation provides substantial benefits to the businesses in our countries.
Russia-Vietnam trade grew by one quarter over the ten months of 2024. I am certain that we have the capability to increase these indicators further, including by implementing the comprehensive cooperation plan signed following intergovernmental talks.
We pay great attention to handling logistics issues. Russian companies ship cargo to Vietnam by sea, implementing modern digital and transport services to simplify delivery.
Vietnam has become a major hub for Russia, allowing us to increase exports to the countries in Southeast Asia.
Deepening industrial cooperation will open additional prospects for businesses. We discussed these matters yesterday.
Today, vehicles manufactured by a joint venture in Vietnam are exported to neighbouring countries.
Cooperation in solar and wind energy, and in green transport, can provide a new basis for cooperation. Russia has made substantial progress in these industries. We are open to launching nuclear power generation projects and electric rivercraft development in Vietnam. We are also exploring opportunities to supply your republic with Russian low-carbon industrial products, and LNG.
As for modern technologies, Vietnam has achieved significant progress. Preparing for this forum, I reviewed your results in electronic commerce – and they are impressive. Vietnam sets ambitious goals in the digitalisation of public administration. Russia is highly competent in this area, and we are ready to share our experience, including in cybersecurity and AI.
Colleagues, friends.
You know very well that Russia is under an increasing pressure of sanctions. But we have managed to adapt to these conditions. Our domestic production and import substitution in certain industries are growing. Our industrial production shows decent performance. In particular, as of 11 months of 2024, Russian industrial production growth rate exceeded four percent. The growth rate in the processing sector is eight percent. We continue to do all we can to stabilise our economic dynamic and to restore our investment activity.
Russian President Vladimir Putin determined the country’s national development goals. We rely on national projects as a tool to achieve these goals. These projects include a set of measures to achieve specific results. One of these projects is to expand international cooperation. The updated version of this project will be launched this year. We will strengthen steps to build a network of partnerships with foreign states and infrastructure we need for foreign trade.
I would like to take this opportunity and invite Vietnamese investors to Russia. We are creating good opportunities for our foreign partners, and I am certain that representatives of Vietnam will be able to work extensively on the Russian market across all economic areas.
Of course, we are inviting Vietnamese representatives to the St Petersburg International Economic Forum this summer and to the Eastern Economic Forum next autumn in Vladivostok. These forums are points of attraction for business communities. I am certain that our Vietnamese friends will be interested in attending these events and expanding their business contacts.
Once again, thank you for the excellent organisation of all the events as part of our visit.
