Russia visit brings raft of new co-operation deals

Party General Secretary Nguyen Phu Trong met with Russian President Vladimir Putin, Photo: VNA

During Party General Secretary Nguyen Phu Trong’s official visit to Russia on September 5-8, the two nations signed several co-operation deals (see box). The Vietnam-Russia Intergovernmental Commission is actively promoting the implementation of 17 priority investment projects worth several billions of US dollars. These projects are in energy, engineering, communications, telecommunications, mineral extraction, metallurgy, aviation, transport, infrastructure, consumer goods, and chemicals.

“We will also expand co-operation in the oil and gas sector. All of Russia’s largest oil and gas companies work in Vietnam, and PetroVietnam has a presence in Russia. Joint enterprises – Vietsovpetro, Rusvietpetro, and Gaspromviet – successfully extract hydrocarbons. For example, Vietsovpetro has already extracted 230 million tonnes of oil. This company accounts for about a third of Vietnamese oil production,” Russian President Vladimir Putin stated.

During the visit, the two nations signed an agreement that will grant Vietsovpetro access to new fields on the Vietnamese shelf. Russian firms also refine oil and plan to supply liquefied natural gas to Vietnam, produce and sell engine fuel, and build the necessary infrastructure.

“There also are good opportunities for electricity. Our company Silovye Machiny is building the Long Phu 1 thermal power plant. Russian enterprises are interested in joining the upgrade process of power plants that were built in Vietnam with the support of the USSR, as well as the construction of new power stations,” President Putin said. “The project to establish a nuclear science and technology centre in Vietnam is also underway.”

Party General Secretary Trong stated that the two nations agreed to consistently step up the comprehensive strategic partnership under new conditions, and raise co-operation in all spheres, particularly trade, economic, investment, defence, military, and technical co-operation.

The two nations also agreed “to create further favourable conditions for expanding ties between the business communities of the two countries, and favourable conditions for investment activities of companies operating in the two countries, particularly in the oil and gas, energy, and agriculture sectors, as well as in transport infrastructure development.