At a press conference held on November 12, President of the Vietnam Chamber of Commerce and Industry (VCCI) Vu Tien Loc said the businesses will showcase their latest products in the fields of building materials, transportation, energy, telecommunications, healthcare and education, among others.

At the press conference on November 12.

The Vietnam-Russia Interregional Business forum will be held in tandem with the expo, he said, adding the two events are organised as part of the activities within the Vietnam-Russia Year and Russia-Vietnam Year 2019, approved by the Prime Minister on March 6.

Loc spoke highly of coordination from the Zarubezh-Expo JSC and the Russian trade representative office in Vietnam, stressing the events are expected to boost collaboration between enterprises from both sides.

Russia has been a long-standing strategic economic partner of Vietnam for years, while Vietnam is the only strategic partner of Russia in the ASEAN, and is a gateway for Russia to get access to this potential market, Loc said, adding trade revenue between the two nations has experienced sound growth of average 30 percent per year since the free trade agreement between Vietnam and the Eurasian Economic Union was signed in 2015.

Currently, Vietnam is Russia’s 23rd largest trade partner in the world, and 6th in the Asian region. Russia has poured some 1 billion USD in oil and gas projects in Vietnam, while the Southeast Asian country has run more than 20 projects in Russia with total capital of nearly 3 billion USD, notably TH Group’s dairy farms with registered capital of 2.7 billion USD.

Loc highlighted that Vietnam and Russia boast huge potential to enhance trade cooperation as they have fruitful relations in the past 70 years, and their markets share a number of complementary features.

Russia holds strengths in finance, manufacturing engineering, mining, automation, agriculture and environment, and Vietnam wants to cooperate with Russia in the fields to bolster bilateral trade, he said.

Last year, Vietnam exported 2.5 billion USD worth of products to Russia while spending 3.5 billion USD on Russian imports. Most of the goods are machines, equipment, food and chemicals, among others.

Export value hit 877 million USD in October

(BGO) – The Department of Industry and Trade has reported that the export turnover in the northern province of Bac Giang hit some 877 million USD in October, making up total of nearly 7 billion USD in 10 month period, up 33 percent comparing to the same period last year. 

Vietnamese businesses active at RoK’s int’l agriculture expo

The Vietnam-Korea Businessmen and Investment Association (VKBIA) has joined the organiser of the ongoing International Agriculture Exhibition (IAE) 2019 in Seoul, the Republic of Korea, to run several activities at event.

E-commerce to give firms more export chances

Vietnam has been recording strong development in e-commerce, through which businesses will have more chances to promote export, an official said at a workshop in Hanoi on October 18.

50 hectares of land in Yen Dung hired to grow banana for export

(BGO) – After careful survey, Hanoi based Hoan My Service and Trade Investment Joint Stock Company has proceeded the formalities to hire 50 hectares of agriculture land in the villages of Binh Voi, Tay and Duoi in Canh Thuy commune, Yen Dung district (Bac Giang province) to grow the banana for export.

Rice exports bring home 2.24 billion USD in nine months

Vietnam shipped abroad 586,000 tonnes of rice in September for 251 million USD, pushing the total rice export volume and value in the first nine months of this year to 5.2 million tonnes and 2.24 billion USD, respectively.

Source: VNA