An important trading partner in industry and energy.
Mentioning Russia (or the former Soviet Union), many Vietnamese people immediately recall familiar products, from household irons and electric fans to plows and tractors. Or the Vietnam-Russia oil and gas joint venture (Vietsovpetro), one of the symbols of the strong bilateral cooperation, which has now been in existence and developing for 45 years. In 2025, Vietnam and Russia will celebrate the 75th anniversary of the establishment of diplomatic relations; prior to that, in 2012, the two countries upgraded their relationship to a Comprehensive Strategic Partnership. With a long history of traditional friendship and economic cooperation, bilateral trade turnover is regaining positive growth momentum, reaching US$4.77 billion in 2025 and US$1.72 billion in the first four months of this year, an increase of 9.22% compared to the same period last year. The structure of goods traded between the two sides is clearly complementary, with Vietnam exporting agricultural products such as cashews, coffee, rubber, and pepper to Russia, as well as textiles, seafood , electronic components, and telephones. Meanwhile, Vietnam imports goods such as wheat, chemicals, pharmaceuticals, and automotive equipment from Russia.
The oil and gas drilling platforms of the Vietsovpetro Joint Venture are a symbol of the strong cooperative relationship between Vietnam and Russia.
Photo: VNA
The two countries have numerous reciprocal investment cooperation projects. Russia currently has nearly 200 projects in Vietnam with a total capital of approximately US$1 billion, ranking 25th out of 139 countries and territories investing in our country. Most recently, in March, Vietnam and Russia signed an agreement to cooperate in building a nuclear power plant on Vietnamese territory (Ninh Thuan 1 nuclear power plant project), expected to become a new symbolic project for Vietnam-Russia friendship. In addition, Novatek Group – Russia's second-largest natural gas producer – has expressed its desire to expand cooperation and investment in Vietnam, opening up many new opportunities in the energy sector , especially liquefied natural gas (LNG). Zarubezhneft Group also plans to cooperate with Petrovietnam to continue researching and expanding investment activities in new oil and gas exploration and exploitation projects in both countries… Conversely, Vietnam has 25 investment projects in Russia, notably projects by Rusvietpetro (a joint venture between Petrovietnam and Zarubezhneft), the Hanoi-Moscow Trade Center, and the dairy farming and processing complex of TH True Milk Group…
Having spent many years studying and researching in Russia, along with numerous work trips to the country, Associate Professor Dr. Vo Dai Luoc, former Director of the Institute of World Economics and Politics , analyzed: Vietnam and the former Soviet Union had a relationship right after the August Revolution. Therefore, the two countries had a traditional, close friendship and cooperation in many fields. During Vietnam's two wars for independence, the Soviet Union provided much aid and support to Vietnam, from defense and security to the economy. In the period after the country's reunification, the Soviet Union and later Russia also played a very significant role in supporting Vietnam. While previously Vietnam mainly received aid, later, bilateral trade relations developed strongly, and Vietnam also moved towards deeper and broader cooperation. The two countries established a Strategic Partnership in 2001 and upgraded it to a Comprehensive Strategic Partnership in 2012. Simultaneously, high-level visits by leaders of both countries have further expanded and deepened cooperative relations. Currently, many areas of cooperation still have significant potential for further growth.
The welcoming ceremony for Prime Minister Le Minh Hung at the airport on the afternoon of June 16th.
Photo: VNA
Associate Professor Vo Dai Luoc further emphasized: Last year, when General Secretary and President To Lam and his wife, along with a high-level Vietnamese delegation, paid an official visit to Russia and attended the 80th anniversary of Victory Day in the Great Patriotic War, both sides agreed to continue cooperation in five key areas: defense and security, energy and oil and gas, high-tech science and technology, human resource training, and infrastructure. With this visit by Prime Minister Le Minh Hung, cooperation between the two countries will certainly continue to develop. From diplomatic relations, many other areas of cooperation will also progress.
Tourists set a record.
When discussing the close relationship between Vietnam and Russia, tourism cannot be overlooked . In recent times, the flow of tourists between the two countries has continuously set new records, affirming their position as strategic tourism partners.
According to the latest figures from the National Tourism Administration, in the first five months of the year alone, Vietnam welcomed approximately 618,000 Russian tourists. This market has experienced explosive growth, with an increase of up to 194% compared to the same period in 2025. It is predicted that the number of Russian tourists to Vietnam will easily surpass 1 million this year. After a period of stagnation due to the pandemic and conflict, Russia has now become Vietnam's largest international tourist market in Europe and the third largest globally, after China and South Korea. This breakthrough has actually been brewing since 2025. Statistics from the Russian Association of Tourism Operators (ATOR) show that Vietnam is the foreign destination with the highest growth rate of Russian tourists in the world in 2025, reaching a total of 689,700 arrivals, surpassing even the peak of 646,524 arrivals in 2019, before the Covid-19 pandemic.
Not only are Russian tourists numerous, but they also play a particularly important role in the tourism ecosystem of many coastal localities in Central and Southern Vietnam. With their preference for escaping the winter, warm seas, and year-round sunshine, they are the longest-staying tourists (averaging 10-15 days) and are among the highest spenders, tending to book high-end rooms, utilize numerous on-site services, and spend far beyond basic sightseeing expenses. To date, Nha Trang (Khanh Hoa) remains the largest destination for Russian tourists in the country. Major travel agencies there report that at times, Russian tourists accounted for over 40% of the province's total international visitors, filling up 4-5 star resorts along Tran Phu Street and the Bai Dai area. The Khanh Hoa Tourism Association estimates that charter flights from Russia and CIS countries will bring 1.2 to 1.5 million tourists to Khanh Hoa during the 2026-2027 period.
Russian tourists (from cruise ships) visit Truong Son craft village, Nam Nha Trang ward (Khanh Hoa province).
Photo: Ba Duy
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A call to action for young pioneers to master science and technology.The trust that the Party and State place in the younger generation, as expressed in the directive speech of General Secretary and President To Lam at the 13th National Congress of the Youth Union, is a great source of encouragement and a call to action, urging young people to be pioneers in mastering science and technology through concrete products and values for the community and the country. Mr. Nguyen Van Thanh, former Vice Chairman of the Nha Trang - Khanh Hoa Tourism Association, recalls that about 16 years ago, when Khanh Hoa began to attract the attention of Russians, Nha Trang was not yet among the top destinations in the country and was just beginning to explore its international tourism potential . Each week, the travel agency Pegas Turistik organized 9 flights bringing tourists from the Russian Far East to Cam Ranh airport; of which 70% stayed in Nha Trang, and 30% went to Phan Thiet.
Russian tourists were very satisfied with the quality of tourism services in Nha Trang at that time and saw it as a future tourism paradise. Indeed, since then, Russian tourists have continuously visited Nha Trang. With the establishment of new air routes and expanded promotional activities, Russia has not only become a key market, accounting for over 70% of foreign tourists to Nha Trang, but has also contributed to changing the face of Khanh Hoa's tourism industry. Many Vietnamese expatriates in Russia have returned to their country to invest in Nha Trang, building high-quality hotels along the beach and upgrading tourism services to a new level.
Originating in Nha Trang, Phu Quoc (An Giang), Mui Ne (Lam Dong), and Da Nang have now also witnessed a massive influx of Russian tourists thanks to continuously organized charter flights. It's not just the pristine beaches and bright sunshine that have the advantage of attracting Russian visitors seeking winter escapes; Hanoi and Ho Chi Minh City are also actively promoting this market.
Conversely, the trend of Vietnamese people choosing Russia as a destination for extended holidays has also seen significant growth. Representatives from major Vietnamese travel companies such as Vietravel, Saigontourist, and BestPrice report that tours to Russia (especially the "golden" Moscow - St. Petersburg itinerary) have consistently been among the top-selling high-end outbound tours from summer 2025 to the present.
Mr. Nguyen Van Thanh explained that after a period of conflict and instability, Russians are seeking places that offer a sense of peace and genuine relaxation. They are willing to spend on high-end resort experiences , and Vietnam possesses all the advantages. Conversely, Vietnamese tourists are increasingly seeking experiences with profound cultural and historical depth and unique natural landscapes. Russia's flexible visa policy further opens the door for Vietnamese people to explore the land of the white birch.
Cooperation is expanding.
Dr. Nguyen Viet Hung, senior lecturer and former Head of the Department of Party Building and Ho Chi Minh Thought at the Ho Chi Minh City Academy of Cadres, assessed: Vietnam and Russia are currently comprehensive strategic partners, with economics being a crucial pillar of cooperation, clearly reflecting the trust between them. This relationship has undergone a long process and has been tested under various conditions and circumstances, from the fierce war, the process of national reconstruction after the war, to the period of Vietnam's construction and development.
Vietsovpetro's oil and gas drilling rigs at the Bach Ho field.
Photo: VNA
Dr. Nguyen Viet Hung also emphasized the generosity of the former Soviet Union and present-day Russia. After inheriting the Soviet Union, Russia forgave Vietnam's debt and helped build extremely important economic sectors. In particular, the energy sector, especially oil and gas exploration on the continental shelf, laid the foundation for the formation of Vietnam's oil and gas industry. This is one of the great achievements of economic cooperation between the two countries. Placed in the context of a world undergoing significant changes and the pressing issue of energy today, the value and vision of economic cooperation between Vietnam and the former Soviet Union, and now between Vietnam and Russia, become even more apparent. In particular, Russia has trained a team of business managers and engineers for Vietnam in many different fields such as: mechanical engineering, chemicals, postal and telecommunications services, railways, roads, inland waterways, coastal waterways, seaports, maritime transport, and aviation... Currently, Vietnam also sees the potential of Russia as a source of new technological advancements.
"Russia – a long-standing center of scientific innovation in the world – will be a much-needed 'intellectual treasure' for our country when we identify science and technology and innovation as the pillars of our development. The bilateral relationship goes beyond commercial transactions; it also has significant implications for the quality of human resource training to serve Vietnam's current digital and green economy," emphasized Dr. Nguyen Viet Hung.
According to this expert, the cooperation between Vietnam and Russia is very effective and significant for the economic development of both countries. This is clearly demonstrated by the complementarity in supply chains and markets based on each country's strengths. Russia holds a very important position in Europe, Asia, and globally; while Vietnam is considered a strategic "base" in Southeast Asia and the Asia-Pacific region. Russia can look to Vietnam as a strategic bridgehead to enter the Southeast Asian and Asia-Pacific markets. Vietnam, in turn, finds in Russia a large and not overly demanding market for consuming goods in which it has a competitive advantage, especially agricultural products and seafood . "It can be seen that the word 'partner' here is relatively equal. Even now, Vietnam has a trade surplus with Russia," said Dr. Nguyen Viet Hung.
Sharing the same view, Associate Professor Vo Dai Luoc believes that Russia remains a leading partner of Vietnam. The potential for mutual development in many areas is enormous. For example, the two sides can continue to expand cooperation in oil and gas exploration in the East Sea, including processing, as Russia remains a powerhouse in this field while Vietnam has large oil production. Similarly, Russia is very strong in science and technology, defense and security, while Vietnam both needs and promotes the development of these important industries. Or in the field of nuclear power development, Russia has been ahead for a long time, and Vietnam is in the process of implementing it. Or, to participate in education and training high-quality human resources, Vietnam can further expand cooperation with Russia… From this, Mr. Vo Dai Luoc emphasized: High-level visits and working meetings between the leaders of the two countries have demonstrated the close and sustainable relationship between the two nations. Moreover, Vietnam also has a fairly good position on the international stage. Importantly, ministries, government agencies, and domestic businesses need to be more proactive and expand cooperative relationships to achieve mutual benefit.
Prime Minister Le Minh Hung arrives in Kazan to attend the ASEAN-Russia summit.
On the afternoon of June 16th (local time), Prime Minister Le Minh Hung and the high-level Vietnamese delegation arrived in Kazan, the capital of the Republic of Tatarstan in the Russian Federation, to begin their participation in the Summit commemorating the 35th anniversary of ASEAN-Russia relations and to engage in bilateral activities at the invitation of Russian President Vladimir Putin.
Welcoming Prime Minister Le Minh Hung and the high-level Vietnamese delegation at the airport were the Head of Government of the Republic of Tatarstan, Rustam Minikhanov. On the Vietnamese side were the Ambassador Extraordinary and Plenipotentiary of the Socialist Republic of Vietnam to the Russian Federation, Dang Minh Khoi; the Consul General of Vietnam in Ekaterinburg, Nguyen Mai Huong; and several embassy staff members.
This is Prime Minister Le Minh Hung's first official visit to Russia in his new capacity, demonstrating Vietnam's appreciation for the ASEAN-Russia Strategic Partnership. The trip contributes to strengthening Vietnam's role as a "bridge," creating new momentum for ASEAN-Russia relations.
Vietnam encourages US businesses to expand investment in high technology.On the morning of June 26th, at the Government Headquarters, Deputy Prime Minister Ho Quoc Dung received Mr. Jeff Place, Supply Chain Director of Coherent Group (USA). During the meeting, the Deputy Prime Minister affirmed that Vietnam encourages US businesses to expand investment, especially in high-tech, innovation, and semiconductor industries. On the occasion of attending the conference, Prime Minister Le Minh Hung is scheduled to meet with Russian President Vladimir Putin and work with the Head of the Republic of Tatarstan, Rustam Minikhanov. This will be an important opportunity to convey the message of the new government regarding the continued importance and promotion of Vietnam-Russia relations; and to exchange views on major breakthrough directions, key areas of cooperation, and measures to resolve obstacles in order to effectively implement the high-level agreements that have been reached.
VNA
Further strengthen the traditional, trustworthy, and effective relationship.
Both countries have chosen an economic development model that aligns with the progress of humanity and the times. This presents both opportunities and challenges for the two countries to further strengthen their traditional, trustworthy, and effective relationship. No matter how the world changes, the Vietnamese people will never forget the sincere and selfless assistance of the former Soviet Union; nor will they forget the genuine, trustworthy, and effective mutual support of present-day Russia. This forms the foundation for our confidence in the bright and promising future of cooperation between Vietnam and Russia.
Dr. Nguyen Viet Hung, former Head of the Department of Party Building and Ho Chi Minh Thought, Ho Chi Minh City Academy of Cadres.
Tourism cooperation is accelerating strongly.
The tourism boom between the two countries is the result of close diplomatic efforts and economic cooperation. Opening up and increasing the frequency of direct flights plays a crucial role. With the current growth momentum, Vietnam-Russia tourism is not just recovering from the pandemic, but is accelerating strongly to become one of the most vibrant and sustainable tourism corridors in the Eurasian region in the coming period.
Mr. Nguyen Van Thanh, former Vice President of the Nha Trang - Khanh Hoa Tourism Association
Source: https://thanhnien.vn/dau-an-hop-tac-viet-nam-nga-185260616212318815.htm
