President greets Far East development minister

President Truong Tan Sang greeted visiting Russian Minister for Far East Development V. I. Ishaev in Hanoi on June 17, expressing the country’s support for Vietnamese companies investing in the Far East.

Welcoming the two sides’ preparations for the second round of negotiations for a bilateral free trade agreement, Sang proposed the Russian side devises concrete incentives for Vietnamese businesses and workers in the Far East.

President Sang suggested the two sides specify the contents of the comprehensive strategic partnership during Ishaev’s visit, adding that political trust lays a strong foundation for the two countries’ ministries and departments to increase their cooperation, and for the Far East’s economic development.

Ishaev stressed that his ministry has worked with relevant Russian agencies to develop a strategic socio-economic development scheme for the Far East until 2025.

He said the region is focusing on spearhead economic sectors like natural resources exploitation, the chemical industry, shipbuilding, aquaculture, the trans-Siberian railway and airport, which according to him, offer the two nations’ businesses a chance to fortify their strengths.

Informing his host of the land and assets incentives for foreign investors in the Far East, the minister called on Vietnamese companies to invest and get projects underway.

In the January-April period, two-way trade between Vietnam and Russia surged 19 percent year-on-year to 861 million USD. Russia now invests in 93 projects worth over 2 billion USD in Vietnam, ranking 18th out of the countries and territories investing in the country.