Dmitry Chernyshenko and To Lam open Russian-Vietnamese Business Forum
Dmitry Chernyshenko and To Lam open Russian-Vietnamese Business Forum
Dmitry Chernyshenko and To Lam open Russian-Vietnamese Business Forum
Deputy Prime Minister Dmitry Chernyshenko and General Secretary of the Central Committee of the Communist Party of Vietnam, To Lam, welcomed participants to the Russian-Vietnamese Business Forum. They also took part in the launch ceremony of dairy production and processing plant of True Milk in the Kaluga Region.
The event took place during To Lam’s official visit to Russia. Earlier, on 10 May, President of Russia Vladimir Putin held talks with the General Secretary in the Kremlin.
Representatives of VTB Bank, AFK Sistema and the Cyberus Foundation for Cybersecurity Development spoke at the forum.
Dmitry Chernyshenko thanked the Vietnamese delegation for taking part in the festive events marking the 80th anniversary of the Great Victory. He quoted President Vladimir Putin as saying that relations between Russia and Vietnam continued to develop steadily in the spirit of equality, mutual respect and consideration for each other’s interests.
This year marks an important milestone for our countries: the 75th anniversary of establishing bilateral diplomatic relations. It was noted during a recent meeting between To Lam and Russian Prime Minister Mikhail Mishustin that both sides prioritise efforts to expand economic cooperation and trade between Russia and Vietnam.
“We can see that Vietnam has accomplished a great deal in these areas over the past few years. In 2024, GDP growth rates exceeded 7 percent, and the country’s trade volumes approached the $800 billion mark. The Russian economy is also posting impressive growth, specifically, over 4.1 percent throughout 2024. Today, the state and the business community are focused on expanding economic ties, including those with friendly Vietnam. Key objectives of our bilateral cooperation include mutual investment and creating the most favourable climate for the fruitful work of Russian and Vietnamese companies in the markets of both countries,” the Russian Deputy Prime Minister said.
The free trade agreement signed between Russia and Vietnam nearly ten years ago provides duty-free access for all commodity categories, particularly important items such as dairy products, meat, wheat, fertilisers and motor vehicles. It is important to find ways to enhance the effectiveness of this agreement.
Dmitry Chernyshenko also praised the Comprehensive Cooperation Plan for the Period until 2030, which was signed in January: “It is this strategic document that has enabled us to agree on joint measures and new cooperation mechanisms with regard to projects in science, energy, and engineering, which will boost bilateral trade by 200 percent to $15 billion before 2030.”
There has been progress in digital cooperation: “Vietnam leads in digital economy and e-trade growth rates. Russia offers the best in digital technologies, industrial software, and telecommunications solutions. The joint Artificial Intelligence and Digital Technologies Centre in Hanoi has started operations,” Dmitry Chernyshenko said.
In agriculture, Russia and Vietnam carry out reciprocal food deliveries and localise production.
Dmitry Chernyshenko also focused on cooperation in tourism: “According to the Russian Ministry of Economic Development, Russia has ranked first in terms of growth in Vietnam-bound tourist flow growth in the first quarter of 2025. There has been an increase of 110 percent. We are making Vietnamese tourists comfortable in Russia by launching e-visas for Vietnamese citizens and adapting the services sector in accordance with their requirements. For example, the period of stay under an e-visa has been extended to 30 days. We are encouraging Russian airlines to offer flights to more Vietnamese cities. We are sincerely grateful to the Vietnamese side and General Secretary [To Lam] for resuming the Vietnam Airlines flight programme from Hanoi to Moscow on May 8. I am confident that this will help to elevate the level of our relations in the sphere of tourism,” he said.
Deputy Prime Minister Dmitry Chernyshenko invited the Vietnamese partners to attend the St Petersburg International Economic Forum and the Eastern Economic Forum in Vladivostok in 2025.
General Secretary To Lam stressed the importance of economic cooperation between Vietnam and Russia. According to him, the parties have agreed to increase the amount of investment to $15 billion. He urged the business communities of both countries to be more active in signing contracts and agreements under the auspices of the business forum so as to make the most of the advantages in all areas – investment, trade, science and technology. He also said that Vietnam is interested in intensifying partner relations with Russia in agriculture, energy, industry, engineering, and information technologies, noting in particular that there is significant potential for cooperation in energy and agriculture.
In conclusion, General Secretary To Lam thanked the Government of Russia for creating a favourable environment for Vietnamese investors and business people, aimed at developing tourism in Russia.
Russian and Vietnamese companies exchanged bilateral documents in the presence of Dmitry Chernyshenko and To Lam. The documents include the Agreement on Cooperation between the National Research University Higher School of Economics and the Vietnamese Academy of Sciences and Technologies and the Memorandum of Understanding and Strategic Cooperation for 2025−2026 between the Anex Tour Company and Vinpearl Company aimed at jointly promoting Vietnam as a tourist destination and Vinpearl products.
