Vietnam supports investment in far east

President Truong Tan Sang on Monday expressed the country’s support for Vietnamese companies investing in the Far East when greeting visiting Russian Minister for Far EastDevelopment V. I. Ishaev in capital Hanoi. 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, reported Vietnam News Agency.

Sang suggested the two sides specify the contents of the comprehensive strategic partnership during Ishaev’s visit, saying 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, for his part, said that the region is focusing on spearhead economic sectors like natural resources exploitation, chemicals, shipbuilding, aquaculture and the trans-Siberian railway and airport, which is expected to offer the two nations’ businesses a chance to fortify their strengths.
Informing the 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 first four months of 2013, the two-way trade between Vietnam and Russia surged 19 percent year on year to US$ 861 million. Russia invested in 93 projects worth over US$ 2 billion in Vietnam, ranking 18th among countries and regions that have investment in the country.