Co-Chair of the Intergovernmental Russian-Vietnamese Commission on Trade, Economic, Scientific, and Technical Cooperation, Deputy Prime Minister Dmitry Chernyshenko, together with Prime Minister of the Socialist Republic of Vietnam Pham Minh Chinh, welcomed participants to the Russian-Vietnamese Business Forum, dedicated to the prospects of furthering collaboration between the two countries.
The event took place during Pham Minh Chinh’s visit to Russia. Also in attendance were Deputy Minister of Economic Development of Russia Dmitry Vakhrukov, alongside Russian and Vietnamese business representatives.
Dmitry Chernyshenko emphasised that last year marked the 75th anniversary of diplomatic relations between the two nations and quoted Russian President Vladimir Putin: “Over these years, Vietnam and our country, Russia, have forged a unique relationship of alliance and fraternal mutual assistance.”
“Over the past year, we have achieved significant progress both in the development of our countries and in bilateral Russian-Vietnamese trade and economic cooperation. Russia’s economy continues to grow steadily. In 2025, the highest growth rates were observed in tourism and the financial sector, as well as in manufacturing. There is increasing demand from both businesses and the state for stepping up international economic ties. By the end of 2025, bilateral trade between Russia and Vietnam grew by 6 percent. Both Russian exports to Vietnam and Vietnamese imports to Russia have increased,” the Russian Deputy Prime Minister stated.
Dmitry Chernyshenko added that Vietnam is Russia’s traditional partner in Southeast Asia, and a country with high growth rates and significant economic potential. In 2025, Vietnam’s GDP growth exceeded 8 percent, and its foreign trade approached $1 trillion.
Regarding promising areas of cooperation, Russia is prepared to serve as a reliable supplier of energy resources, coal, oil, gas, meat, wheat, fertiliser, confectionery, pharmaceutical products, and polymer goods. The Deputy Prime Minister invited relevant companies to expand their presence in the Vietnamese market. An effective infrastructure for trade and project collaboration has already been established for Russian and Vietnamese businesses. The Deputy Prime Minister also highlighted the importance of the Vietnam–Russia Joint Venture Bank in supporting business and tourism.
Over the years, logistical connectivity between Russia and Vietnam has improved. In 2025, the geography and frequency of direct flights between the two countries expanded. According to Dmitry Chernyshenko, this reflects strong interest in mutual tourism and business travel.
“The flow of tourists from Russia to Vietnam in 2025 nearly tripled, reaching 690,000 people. Russia ranks among the top five foreign countries in terms of tourist visits to Vietnam and is ready to compete for leadership in this regard. Tourist arrivals from Vietnam to Russia grew by almost 36 percent. We are actively working to simplify visa requirements,” the Deputy Prime Minister added.
Russia is prepared to support Vietnam’s sustainable development, which aims to achieve net-zero emissions by 2050. On 23 March, in the presence of Russian Prime Minister Mikhail Mishustin and Vietnamese Prime Minister Pham Minh Chinh, an intergovernmental agreement was signed for the construction of Vietnam’s first nuclear power plant using advanced Russian technology.
Dmitry Chernyshenko added that Russia is also ready to intensify cooperation with Vietnam in digital technologies and education.
“Russia is prepared to share expertise and experience in cutting-edge solutions such as smart and safe cities, cloud technologies, cybersecurity, artificial intelligence, and the digitalisation of public services. Russia is ready to assist Vietnam in training skilled personnel for high-tech industries through joint projects. This work is being carried out under the Russian-Vietnamese Consortium of Technical Universities,” the Deputy Prime Minister said.
In conclusion, Dmitry Chernyshenko invited Vietnamese colleagues to participate in the 29th St Petersburg International Economic Forum, scheduled for 3–6 June, and the Eastern Economic Forum, which will take place from 1–4 September.
Pham Minh Chinh reported that during his visit, he had met with Russian Prime Minister Mikhail Mishustin, Federation Council Speaker Valentina Matviyenko, and State Duma Speaker Vyacheslav Volodin.
“I see great potential for the development of bilateral relations. I am confident that today’s forum will bring our business communities together. The advancement of political relations serves as a driving force for opening up bilateral ties in other areas. We regard Russia as our most important partner in Europe, and these relations should unite our economies. We hope that you, our friends, will find ways and opportunities to strengthen our partnership,” Pham Minh Chinh stated.
He also outlined prospects for cooperation in education, science, innovation, digital technologies, finance, transport logistics, and other fields.
In the presence of Dmitry Chernyshenko and Pham Minh Chinh, a ceremony was held for the exchange of bilateral documents between Russian and Vietnamese companies. These included a Memorandum of Understanding between Vietnam Railways and Ava Trading, a Letter of Intent between the FESCO Transport Group and the Vietnam Maritime Corporation, a Letter of Intent between Delo Group and the Vietnam Maritime Corporation, and a Protocol between the Vietnam National Industry and Energy Group and Zarubezhneft on re-registration and transfer of subsoil use licences between ZN-Sever and Rusvietpetro.
