Russian-Vietnamese Business Cooperation: Huge Potential for Expansion in Multiple Industries

At the Eastern Economic Forum (EEF) in Ho Chi Minh City, Mr. Alexander Stuglev, Chairman of the Board of Directors and CEO of the Roscongress Fund, highlighted numerous opportunities for Vietnamese businesses to engage with Russia. These include agriculture, tourism, textiles, as well as traditional fields like energy. The Roscongress Foundation, founded in 2007 by Russian President Vladimir Putin, is responsible for organizing key economic events in Russia.

According to Mr. Stuglev, there are significant sectors for cooperation between Russia and Vietnam such as energy, transportation, construction, tourism, fashion and information technology. He emphasized that there is a high demand in Russia for agricultural investments and imports of agricultural products from Vietnam. Additionally, there has been growth in the tourism industry and infrastructure construction which presents opportunities for Vietnamese businesses to expand their operations into these areas.

For example, the Russian fashion market is expected to grow significantly with substantial potential for Vietnamese textile and garment exports to Russia. In addition to this, Vietnam-Russia trade turnover reached $3.6 billion last year with significant exports of coffee