President calls for more Russian investment

Moscow (VNA) – State President Nguyen Minh Triet has called for Russian businesspeople to increase their trade and investment in Vietnam, saying the country will provide favourable conditions for them.

Addressing the Vietnam-Russia Business Forum in Moscow on Oct. 28, the Vietnamese State President said: “Vietnam is eternally grateful to the people of the former Soviet Union and current Russia for what they have done for Vietnam. Vietnam will strive to provide favourable conditions for Russian businesses to operate in the country.”

He highlighted the business community’s huge participation in the forum as a clear demonstration of their desire to further boost economic ties, trade and investment.

The President told those present that he and President Dmitry Medvedev mutually acknowledged the fact that the current economic, trade and investment cooperation between the two countries has not yet developed to a level that is on a par with their strategic partnership.

Accordingly, both he and President Medvedev have agreed on the need to further broaden bilateral cooperation in a number of important areas to bring long-term benefits to the strength and capacity of each country.

President Triet assured the attendees that the Vietnamese State has made great efforts to create a more open and favourable environment for foreign investors, citing the country’s attraction of 57 billion USD in foreign investment over the past nine months of this year as an example of those efforts.

“Vietnam would like Russia to contribute more to foreign investment in Vietnam and play an important role, both politically and economically in the country before widening its influence across Southeast Asia,” President Triet said.

The President mentioned the proposal made by President Dmitry Medvedev and Prime Minister Vladimir Putin during this visit, relating to the use of Russian roubles and Vietnamese dong in payments between the two countries, saying the Vietnam-Russia Joint Venture Bank’s opening of a representative office in Moscow will help to facilitate these payments.

Following the forum, President Triet witnessed the signing of a series of deals and contracts between the two countries’ businesses, including the signing of a document regarding the construction of a Vietnamese village in Moscow, plus an agreement on the establishment of a joint venture to assemble KAMAZ automobiles in Vietnam.

He also attended an inauguration ceremony for the Vietnam-Russia Joint Venture Bank, where he handed over an operating licence for its representative office in Moscow , and witnessed the signing of a cooperation agreement between the Vietnam Investment and Development Bank and the Russia Bank for Foreign Trade.

The President also made a tour of the Gazprom group.

The same day, he had meetings with Russian senior officials, including Russian Communist Party leader, Parliament’s Upper House Speaker and Moscow’s Mayor.

Receiving the Chairman of the Russian Communist Party Gennady Zyuganov, President Triet affirmed that the excellent relationship between the Communist Party of Vietnam and the Communist Party of Russia plays a vital role in the Vietnam-Russia strategic partnership.

He said he hoped that the two Parties will continue to maintain frequent exchanges as well as to share their experience and information.

President Triet informed Chairman Zyuganov of the main contents of talks held between the Vietnamese and Russian State leaders.

He also hoped that the Russian Communist Party could continue to build its prestige and influence, and, together with the Russian people, help to make Russia one of the most powerful countries in the world, contributing to peace, national independence, democracy, and social advancement.

Chairman Zyuganov reiterated the Russian Communist Party’s resolve in further strengthening the Vietnam-Russia strategic partnership.

He also took this occasion to present President Triet with an insignia of the Komsomol, the reliable backup team of the Russian Communist Party.

Meeting with the Speaker of the Russian Parliament’s Upper House Sergei Mironov, President Triet hailed the fine cooperation enjoyed by the two legislative bodies.

The two sides regularly exchange delegations in order to share experiences in legislation, supervision and working organisations and structure, and closely coordinate within the framework of parliamentary union forums at both regional and global levels, thus contributing to boosting the strategic partnership and expanding the comprehensive cooperation between the two countries, he added.

He also said he hoped that the Speaker would continue to have a more active role in strengthening the two nations’ comprehensive relations.

The Vietnamese State leader praised the decision made by Hanoi and Moscow’s municipal authorities to grant land for the construction of trade centres and cultural houses in their respective cities during his meeting with Moscow’s Mayor Yuri Luzhkov.

The projects will help to boost mutual understanding among the people and businesses of both countries, and act as a bridge for economic, trade, investment, cultural and tourism cooperation, he added.

He also hoped that Hanoi and Moscow would become spearheads of cooperation among the various localities within Vietnam and Russia.

Both the Russian Upper House Speaker and Moscow’s Mayor expressed their pleasure at developments in all aspects of Vietnamese-Russian ties.

They also spoke highly of the results of discussions held between the two State leaders, as well as a number of important agreements signed during President Triet’s visit to Russia.