Binh Duong inks cooperation deal with Russia’s Oryol Oblast

A view of Thu Dau Mot city of Binh Duong province (Photo: VNA)

Oryol (VNA) – Vietnam’s southern province of Binh
Duong and Oryol Oblast, a federal subject of Russia, signed a memorandum of
understanding (MoU) on setting up multi-faceted cooperation in Oryol city on
July 7.

Vice Chairman of the Binh Duong People’s
Committee Mai Hung Dung said the document on cooperation, including in
economy-trade, science-technology and culture, is a foundation for the two
sides to enhance their friendship and mutual understanding. It is especially
meaningful as it was signed shortly after President Tran Dai Quang’s recent
official visit to Russia during which the two countries’ leaders stressed the
resolve to boost bilateral trade to 10 billion USD in 2020.

He introduced his province’s potential to
Russian officials, noting that it is one of the five localities attracting most
foreign investment in Vietnam. It has so far been home to nearly 3,000 foreign
invested projects with total capital of over 27 billion USD from 59 countries
and territories.

The Governor of Oryol Oblast, Vadym Potomsky,
affirmed that reinforcing the Vietnam-Russia strategic partnership is the
determination of both countries. He valued Vietnam’s development and growing
economic and political influence.

[Binh Duong continues improving business climate]

Vietnam is the first country to ink a free trade
agreement with the Eurasian Economic Union, which is led by Russia. Therefore,
it is also the first to have favourable access to the Russian market and
partner countries of Russia.

He added with favourable geographical location,
Oryol Oblast is able to help deliver Vietnamese goods to the centre of Russia.

Vice Chairman Dung told Vietnam News Agency that
Binh Duong will promote export to Oryol Oblast in the near future. While local
businesses showed their interest in such products as cashew and coffee which
are the strength of Binh Duong, businesses of the Vietnamese province want to
buy Russia’s technologies, such as oil refining technology.

Binh Duong, with the most dynamic growth in
Vietnam, has big demand for skilled personnel and high technology. Meanwhile,
the Russian side is also able to ensure cooperation in science-technology and
training of students, lecturers and researchers, he added.-VNA

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