New Vietnam-Russia joint-venture takes shape

Representatives of business groups from Vietnam and Russia on March 16 signed an agreement to establish a joint-venture in April.

Present at the signing ceremony was the Vietnamese Ambassador to Russia, Bui Dinh Dinh.

Both countries will invest in Vietnam’s large scale construction projects, including a sports complex, Ben Luc industrial zone in Long An province and Nhon Hoi economic zone in Binh Dinh province, apart from establishing a joint-venture bank in Vietnam.

The deal will see joint-venture companies being set up in industrial zones to produce manufactured goods with the trade name Russia-Vietnam. Both will invest in machine manufacturing with the raw materials supplied by Russia.

The Russian partners will import garments, agricultural and aquatic products from Vietnam.

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