Hanoi welcomes Russian businesses to expand investment and promote bilateral economic cooperation.

On December 1, the Hanoi-Moscow Business Forum took place to celebrate the 75th anniversary of the establishment of Vietnam-Russia diplomatic relations, with the participation of leaders of the two capitals and a large number of business communities of the two countries.

Vice Chairman of Hanoi People's Committee Nguyen Manh Quyen speaks at the forum

With the spirit of “traditional friendship - substantive cooperation - sustainable development”, the forum creates more momentum to promote trade, investment and expand economic links between Hanoi and Moscow.

Hanoi: Ready to open doors to welcome Russian capital

Speaking at the forum, Vice Chairman of the Hanoi People's Committee Nguyen Manh Quyen affirmed that Hanoi always attaches importance to and is ready to create the most favorable conditions for Russian enterprises to invest and do business in the capital. Hanoi is currently the national political and administrative center, one of the two largest economic locomotives in the country with synchronous infrastructure, a young workforce and a transparent and stable investment environment.

Vice Chairman of Hanoi People's Committee Nguyen Manh Quyen.

Vietnam-Russia trade turnover in 2024 will reach 4.59 billion USD, up 26% compared to 2023, of which Hanoi has received 167.5 million USD of FDI capital from Russia, focusing on the fields of processing and manufacturing industry, information technology, accommodation services, retail and construction. Although the scale is still modest, the room for cooperation is still very large and the two sides have favorable conditions to make strong progress in the coming time.

Mr. Nguyen Manh Quyen emphasized that Hanoi prioritizes attracting high-tech projects, especially in areas such as smart electronics, precision mechanics, automation, biotechnology, information technology, cyber security, digital data and artificial intelligence. These are also areas where Russian businesses have strengths and are looking for opportunities to expand cooperation.

Promoting trade, tourism and logistics connections between the two capitals

Hanoi proposed promoting joint trade and tourism promotion programs, restoring and opening more direct flights, simplifying import-export and tourism procedures, thereby creating favorable conditions for businesses and people of the two countries to exchange and expand markets.

Russian business representatives attended the forum.

The city also particularly encourages green, environmentally friendly investment projects with commitments to technology transfer, human resource training, and linkages with domestic enterprises - in line with the sustainable development strategy of the capital.

On that basis of cooperation, Russian partners also expressed their hope to strengthen ties with Hanoi in many fields.

Mr. Sergey Cheremin, Minister of the Moscow Government, Head of the Moscow Department of Foreign Economic Relations and International Relations spoke.

Mr. Sergey Cheremin, Minister of the Moscow Government, Head of the Moscow Department of Foreign Economic Relations and International Relations, affirmed that Moscow always highly values ​​the friendly relationship with Hanoi and considers this one of Russia's most dynamic and effective inter-regional relationships.

Moscow is currently the leading investment center of the Russian Federation, with a total foreign investment capital of 250 billion USD, ranking first in the country in terms of investment environment for 7 consecutive years. The city possesses modern transport-logistics infrastructure, high-quality human resources, strong technological capacity, especially in the fields of manufacturing, aerospace, information technology, healthcare and urban digitalization.

In 2024, Moscow-Vietnam trade turnover will increase by nearly 30%, reaching 2.5 billion USD - a testament to the vitality of economic cooperation between the two sides.

Strengthening government-business connections

To realize the investment attraction orientations, Hanoi said it will mobilize the coordination of departments, branches and sectors, including the Department of Finance, the Department of Planning and Investment, the Hanoi Investment Promotion and Enterprise Support Center, to ensure a transparent and stable financial environment; support businesses in accessing preferential policies, investment-tax-finance procedures; promote business connections through specialized promotion programs; accompany investors throughout the project implementation process. Thereby, the Capital will enhance its competitiveness and continue to be an attractive destination for large-scale projects from Russia.

Vice Chairman of the Hanoi People's Committee Nguyen Manh Quyen affirmed that Hanoi "commits to act with the highest political determination", creating a transparent, fair and attractive investment environment, and is ready to accompany Russian enterprises throughout the process of researching, investing and operating in Hanoi.

Belief in a new stage of development

Representative of the Embassy of the Russian Federation in Vietnam, Minister Counselor Ivan Nesterov emphasized that Vietnam always holds a priority position in Russia's foreign policy in the Asia-Pacific region. Despite complex fluctuations in the global geopolitical situation, Russia-Vietnam cooperation has maintained a positive growth rate thanks to high political trust and the adaptability of the two economies. He said that two-way trade last year increased by more than 20%, opening up many new prospects for cooperation in the near future, especially when the two countries are gradually increasing payments in local currencies and opening new logistics routes.

Counselor Ivan Nesterov spoke at the forum.

Counselor Ivan Nesterov also affirmed that Russia is ready to promote large-scale projects in Vietnam, including cooperation in developing energy, civil nuclear, science and technology and expanding industrial production, including GAZ brand cars. He assessed that Hanoi - with its position as the capital and a dynamic economic center - is a locality with great potential to become a priority destination for Russian enterprises in their strategy of expanding to Southeast Asia.

View of the forum.

With the foundation of 75 years of friendship, and the determination of the governments of the two capitals and the business communities of the two countries, Hanoi-Moscow cooperation is expected to enter a new stage of development, more substantial and effective, contributing to peace, stability and prosperity in the region.

THANH NGA

Source: https://nhandan.vn/ha-noi-hoan-nghenh-doanh-nghiep-nga-mo-rong-dau-tu-thuc-day-hop-tac-kinh-te-song-phuong-post927112.html