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  Business

Russian businesses eye Vietnamese market

The Vietnam International Industrial Fair (VIIF) in Hanoi from October 19-23 has attracted 40 Russian companies to showcase their products. Russian Trade Counsellor Alexandr Sitnikov told VOV at the fair that the presence of Russian industrial companies marked the first step in economic and trade co- operation between the two countries in the next 5-10 years.

Russian businesses turn to Vietnam

Covering an area of more than 200sq.m, Russian pavilions showcase industrial products from various Russian regions such as the Republic of Tatarstan, the provinces of Voronhezh, Moscow, Ryazan and Omsk and the cities of Saint Petersburg and Nishny Novgorod. The presence of these Russian businesses from these regions showed their interest in the Vietnamese market, as well as their desire to introduce new products and seek business partners.

"I strolled Hanoi streets and found that Vietnamese goods have high quality and these products can be sold in Russia," the vice chairman of the Chamber of Commerce and Industry of Voronezh province told VOV.

He said his province exports industrial products to Vietnam, while importing garments, food, and canned and fresh fruit from the country. Trade value between Voronezh and Vietnam stands at US$3.3 million annually.

In addition to well-known vehicles trademarks such as Kamaz lorry and Chelyabinsk tractor, the fair has attracted the participation of representatives from atomic energy institutes, aircraft and machinery manufacturing groups and consumer goods producers.Tatarstan takes lead in local co-operation

Tatarstan takes lead in local co-operation

Farid Mukhametshin, State Council President of the Republic of Tatarstan and head of the Russian delegation to the fair, expressed his optimism about the prospects of bright co-operation between the two countries’ localities.

"We decided to invest in trading medical equipment in Vietnam because Tatarstan is famous for medical equipment," he said. "Tatarstan was selected to conduct heart surgery for former Russian President Boris Yelsin and the surgery was successful. I think we will establish a medical equipment showroom at the next VIIF and joint ventures with Vietnamese partners."

Tartastan has advantages of machinery manufacturing and liquefied oil. Galiev Insaf from the Tatarstan Ministry of Trade and External Economic Co-operation, said that Tatarstan is willing to exchange goods with Vietnam in the light industry and foodstuff processing sectors.

Tatarstan exports to Vietnam Kamaz lorries, aircraft equipment, mechanical and inorganic chemistry products, electrical equipment and dynamites. It imports garments, ceramics, cereals and plastics from the country.

The Russian republic has established seven joint venture companies with Vietnamese partners. Two-way trade value between Tatarstan and Vietnam reached US$22.7 million last year, and rose by 7.7 percent in the first half of this year.Russia is still a potential market for Vietnam

Russia is still a potential market for Vietnam

Hoang Van Dzung, vice chairman of the Vietnam Chamber of Commerce and Industry (VCCI), quoted a recent VCCI survey as saying that Russia is a lucrative market for Vietnam. By strongly developing high-tech products, manufacturing industry, exploitation and telecommunications, Russia still has room for consumer goods, which is one of Vietnam’s strengths.

During the fair, Russian enterprises also aim to introduce their potential products including small-scaled nuclear power generators which also can extract safe water from seawater and be used in far-flung regions.

Many contracts have been signed, including those between Kamaz group and the Vietnam Coal Corporation and those on market research and technical maintenance.

The Russian side also shows their interest in transport and energy projects in Vietnam.

Vietnam and Russia aim to raise their two-way trade value to US$1 billion this year.



VOV - (24/10/2005)


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