Homepage

About us

News and Events

Investment & Business Consulting

Intellectual Property Attorney

Legal Services

Search

Contact us

 

 
 
NEWS AND EVENT

Hong Kong paper hails Vietnam’s return to int’l bond market

Foreign investors part of Vietnam economy - PM Dung

Vietnam’s economy recovers rapidly by JETRO

Retail market rises above global crisis

Russian businesses talk investment chances in Vietnam

Vietnam looks to invest more abroad

US leads foreign investors in Vietnam in 2009

Gazprom plans big investments in Vietnam, India

Vietnam, United States of America boost cooperation in pharmaceuticals

Largest regional solid waste treatment plant goes into operation

Japan pledges record aid of 1.6 billion USD

ODA forecast to pass 5 billion USD

Ho Chi Minh City leads in FDI attraction

Vietnam enters top ten software outsourcing destinations

Vietnam to explore for oil in Cambodia

Fund pours 223 million USD into real estate

Russia set to prepare for agreements with Vietnam

 

Hong Kong paper hails Vietnam’s return to int’l bond market

After a four-year absence, Vietnam came back to the international bond market on Jan. 26 with a 10-year issuance that “fared well” on its first day of trading compared with the early January issues from Indonesia and the Philippines.

In an article posted on Jan. 27, Hong Kong’s FinanceAsia online newspaper said Vietnam executed a 1 billion USD, 10-year bond offering that became the country's second sovereign bond issue since October 2005.

Barclays, CitiBank and Deutsche Bank, which arranged the deal, had been quietly confident that they would attract a sizeable number of bids and, in the end, the order book comprised 200 accounts.

The deal was 2.4 times subscribed with a total order amount of 2.4 billion USD.

The paper said although rating agencies put Vietnam on a negative watch, there was still a high-quality pool of real money interest from the US, Europe and Asia.

Final allocation saw 56 percent of the deal go to the US, 16 percent to European investors and 28 percent to Asia.

Vietnam was the third Asian sovereign issuer in the global bond market this year, after Indonesia and the Philippines. The country made a debut offering on the international bond markets in October 2005.

Go top

(Source: Vietnam News Agency - Vietnam Plus)


Foreign investors part of Vietnam economy - PM Dung

Foreign investors who are doing business in Vietnam are considered a part of the country’s economy, especially as the successful performance of any enterprise contributes to economic development.

Prime Minister Nguyen Tan Dung made the affirmation while having dialogues with more than 20 Presidents and Managers of the world’s leading finance and banking, real estate, energy, civil engineering, telecom and health groups in Davos, Switzerland on Jan. 28.

The dialogue, the second of its kind between PM Dung and the world’s leading businessmen, on the sidelines of the annual World Economic Forum (WEF), conveyed the international business circle’s positive feelings towards Vietnam, a country that has successfully overcome the financial crisis.

PM Dung cited 21 billion USD in FDI in 2009 as evidence of Vietnam’s attractiveness to foreign investors despite the impact of the world financial crisis.

Additionally, international donors committed to providing a record 8 billion USD of ODA to Vietnam in the 2010 fiscal year.

Throughout numerous difficulties, the country has tried its best to accelerate administrative reform to create a more open environment for economic development, promote investment, improve the effectiveness of infrastructure projects and develop human resources and scientific technology, he said.
Vietnam has considered the global financial crisis—rather than being a challenge--an opportunity to make a drastic change in its own economic foundation, PM Dung stressed.

The PM also responded to questions relating to the country’s solutions and experiences in coping with crisis, measures to increase the economy’s competitiveness, priority sectors for development and foreign investment attraction, orientations to develop the banking sector, energy development strategy as well as the country’s administrative reform and anti-corruption measures.

On the sideline of the 2010 WEF, Prime Minister Nguyen Tan Dung met with President of Credit Suisse Paul Callelo, during which he spoke highly of the bank’s contributions to Vietnam as it has helped arranged 3 billion USD of internationally-funded capital for the Southeast Asia country since 2005.

Credit Suisse has funded Vietnam Airlines, the Vietnam Coal and Mineral Industries Group and mobilised financial support for PetroVietnam, Electricity of Vietnam and Vietnam National Shipping Lines.

President Paul Callelo highly praised the efforts and effective measures Vietnam has undertaken to deal with the global financial and economic crisis.

Vietnam is a priority development destination for Credit Suisse, he affirmed, pledging that the bank is willing to help and provide new financial services in Vietnam.

Later on, under the witness of PM Dung, Credit Suisse granted a contract to set up 200 million USD in capital for Vietnam ’s Kinh Bac Urban Development Corporation.

Go top

(Source: Vietnam News Agency - Vietnam Plus)


Vietnam’s economy recovers rapidly by JETRO

An official from the Japan External Trade Organisation (JETRO) has hailed Vietnam’s stimulus policies and its rapid economic recovery.

“Compared with the stagnant economies of developed nations, the tempo of economic recovery in Vietnam is extremely fast,” said Managing Director of the JETRO Office in Hanoi Yoshida Sakae in an interview granted to Thoi bao Kinh te Vietnam (Vietnam Economic Times) on Jan. 26.

Powered by Vietnam’s economic restoration, Japanese companies operating in the country have recovered over 80 percent of their production output and many of them are recruiting more workers, he said.

Since mid 2009, the JETRO Hanoi Office has received an increasing number of applications for consultancy for new projects, the official said, adding that Japanese enterprises have always considered Vietnam “a firm manufacturing base and consumption market in the long run,” the official added.

Regarding the inflow of foreign investment, Sakae said the implementation of the action plan of the Vietnam-Japan Joint Initiative would improve the investment environment and increase the number of Japanese projects in Vietnam.

The strict fulfilment of its commitments to the World Trade Organisation (WTO) will help Vietnam attract more foreign investment, he said.

However, the JETRO official also recommended that Vietnam continue improving the quality of human resources and simplifying administrative reforms in the coming time.

Go top

(Source: Vietnam News Agency - Vietnam Plus)


Retail market rises above global crisis

Vietnam ’s retail market weathered the global financial crisis to reach a year on year sales growth rate of 18.6 percent in 2009, although the market was opened just over a year ago.

The figures are of great significance as the world’s major markets, including the US , Japan , the Republic of Korea and the European Union, saw minus growth rates, heard experts at a seminar in Hanoi January 22.

Dinh Thi My Loan, Vice President and General Secretary of the Vietnam Retail Association, reported that retail revenues recorded almost 1,200 trillion VND (64.8 billion USD) in 2009 and are expected to reach 1,440 trillion VND (77.8 billion USD) this year.

Representatives of foreign distribution and retail firms, including the Big C, praised the potential and business opportunities in Vietnam, especially since the country opened up its retail market as part of its commitments to the World Trade Organisation (WTO) on January 1, 2009.

They also unveiled plans to expand their distribution networks to many cities and provinces throughout Vietnam.

The Director of CB Richard Ellis Vietnam, Richard Leech, said that despite the adverse impact of the global economic crisis, Vietnam’s retail market still attracted big names such as Naf Naf, Morgan de Toi and Mexx in 2009. He was optimistic that other brand names will continue to come to Vietnam this year.

The Deputy General Director of the Nguyen Kim Trading Company, Huynh Van Ro, revealed that his company is planning to open 50 more shopping centres, to realise its target of becoming a national leader in the country’s retail industry.

Meanwhile, the Hanoi Trading Corporation is bent on becoming one of the country’s leading retailers in Vietnam by 2015, with two hypermarkets, five shopping centres, 60 supermarkets and 30 convenience stores.

Go top

(Source: Vietnam News Agency - Vietnam Plus)


Russian businesses talk investment chances in Vietnam

A workshop on Vietnam ’s potentials and investment opportunities was held in Moscow, Russia, on Jan. 19.

Addressing the function, Vice Chairman of the Russian Chamber of Commerce and Industry Gheorgy Petrov said Vietnam is a promising investment market.

Russian investors can join in setting up oil refinery and metallurgy businesses, executing power projects, building hotels and business centres, providing machinery and equipment as well as manufacturing automobile in Vietnam , Petrov said.

Vietnamese Ambassador Bui Dinh Dinh applauded the organisation of the seminar, saying that similar activities will help promote traditional friendship and strategic partnership between the two countries.

Last year, two-way trade recorded a year-on-year rise of 4 percent, fetching more than 1.7 billion USD in 2009, said Dinh.

Deputy Minister of Planning and Investment Cao Viet Sinh briefed the participants of the country’s political stability and social security, a high economic growth and huge investment demand which made Vietnam a destination for foreign investors.

The Vietnamese Government is striving to finalise its legal system and policies to encourage local and foreign investors, he said, noting that the gov’t is calling for foreign investment in five important sectors.

He took the occasion to call for closer cooperation between Russian and Vietnamese businesses for mutual development and for prosperity, friendship and benefits of the two peoples.

Russian businesses discussed issues relating to investment in manufacturing construction cranes, energy projects, realty market and housing, training officials, a free economic area in Vietnam and the framework of ASEAN.

Go top

(Source: Vietnam News Agency - Vietnam Plus)


Vietnam looks to invest more abroad

Investment outflow of Vietnamese businesses into foreign countries and territories is expected to increase with a yearly average of 500 million USD, according to the Ministry of Planning and Investment (MPI)’s Foreign Investment Agency.

Last year saw a wave of Vietnamese foreign investment. Deputy head of the department, Bui Quoc Trung, said Vietnam invested in 457 projects with 7.2 billion USD in over 50 countries and territories. The figures reached 143 percent of set targets and over twice as much as the total investment between 1989 and 2008.

Agriculture ranked first, accounting for 40 percent of the total projects and 68 percent of total investment. The service sector followed with 19 percent of the projects and over 2 billion USD disbursed last year.

Many projects were in high-tech sectors and were distributed worldwide.

This year, traditional markets including Laos , Cambodia , Russia , Malaysia and Algeria will still be attractive destinations for Vietnam ’s investors. However, businesses will also expand their markets in Japan , the US , the Republic of Korea and Singapore who have been big investors in Vietnam .

According to the Minister of Planning and Investment, Vo Hong Phuc, the country’s trade turnover reach 125 billion USD despite the global economic downturn. Of these markets, Vietnamese investors were particularly successful in Laos and Cambodia . Projects in the two countries increased both in quantity and capital with an average investment of 14.2 million USD per project.

Prime Minister Nguyen Tan Dung, at a conference in HCM City on December 26, 2009, said Vietnam now had over 60 projects in Cambodia with a total capital of nearly 900 million USD, making Vietnam among the top three foreign investors in Cambodia.

Laos has also been a promising markets for Vietnamese investors due to its potential in gold exploration and processing as well as other minerals.

The 1 billion USD project to build a golf course and a five-star hotel in Laos by Long Thanh Golf Investment and Trade Joint Stock Company has been Vietnam ’s biggest foreign investment project so far.

The country also attracted Vietnamese investors in the agro-forestry and processing industry with seven projects, worth more than 140 million USD.

According to former head of the Foreign Investment Agency, Phan Huu Thang, the rapid growth of Vietnam ’s investment outflow is an objective trend which is suitable with its development and international integration.

The MPI is continuing to complete legal framework and policies for investment, thus creating favourable conditions for Vietnamese businesses.

Go top

(Source: Vietnam News Agency - Vietnam Plus)


US leads foreign investors in Vietnam in 2009

The US became the leading investor among the 43 countries and territories investing in Vietnam in 2009 with a total capital of 9.8 billion USD.

The Foreign Investment Department of the Ministry of Planning and Investment said that the US investment capital made up 45.6 percent of the country’s total foreign investment.

The US was followed by Cayman Islands with more than 2 billion USD.

Apart from Hanoi and HCM City , US investors focused their ventures on other localities with potential economic development like the southern provinces of Dong Nai and Ba Ria-Vung Tau.

Director of the Ba Ria-Vung Tau Investment Promotion Centre, Vo Trinh Trieu, said that the US is the largest financier in his province with more than 5.8 billion USD, representing over 23.2 percent of its total foreign investment capital.

During a visit to Vietnam in early Dec. 2009, ex-President of the US Chamber of Commerce (AmCham) and President of the US Amway Group Steve Van Andel told the press that the increase in US investment in the country has opened positive prospects. This proved that US businesses and entrepreneurs show interest in Vietnam .

In 2008, US investment capital only totalled more than 1.5 billion USD.

Go top

(Source: Vietnam News Agency - Vietnam Plus)


Gazprom plans big investments in Vietnam, India

Russia ’s gas giant Gazprom is planning to invest 14.9 billion RUB (approximately 505 million USD) in gas exploration and production in Vietnam and India next year.

Up to 9.43 billion RUB of the sum will be allocated to Vietnam , reported the Vedomosti newspaper on Dec. 8.

This will be Gazprom’s largest-ever investment as the group has just spent 2 billion RUB exploring for gas in Russia’s continental shelf and the planned capital for its big gas project in the Shtokman field is less than 13 billion RUB.

The group expects to begin production in India by 2012 and in Vietnam three years later, with a total combined output equivalent to nearly 1.1 billion tonnes of oil.

Gazprom is now searching for gas in a field in the Gulf of Bengal in India and six other fields in Vietnam’s continental shelf.

Go top

(Source: Vietnam News Agency - Vietnam Plus)


Vietnam, United States of America boost cooperation in pharmaceuticals

Vietnam demonstrated interest in the United States ’ proposals on boosting bilateral cooperation in the field of pharmaceutical chemistry.

At a meeting with former US Trade Representative Charlene Barshefsky in Hanoi on December 9, Deputy Prime Minister Hoang Trung Hai stressed the importance of the pharmaceutical chemistry as a spearhead in the high-tech sector. Vietnam ’s target to build a pharmaceutical industry will allow the country to boost its economy by gradually reducing its dependence on foreign imports, and take initiatives in providing healthcare services to people.

For her part, Barshefsky informed Hai of the work between the US delegation and the Ministry of Industry and Trade and the Ministry of Health in that the two sides acknowledged opportunities and challenges in the development of the pharmaceutical chemistry in Vietnam as well as investment and cooperation orientations in the field between the two countries.

The two sides reached a consensus that foreign investment attraction in the field should go together with technology transference which is an important factor to boost the pharmaceutical chemistry in the Southeast Asian nation.

Charlene Barshefsky held post as US Trade Representative in Vietnam from 1997-2001. She has also contributed to the signing of the Vietnam-US Bilateral Trade Agreement.

Go top

(Source: Vietnam News Agency - Vietnam Plus)


Largest regional solid waste treatment plant goes into operation

The Vietstar Lemma Eco Centre, the largest and most modern solid waste treatment facility in Southeast Asia, will be put into operation in Ho Chi Minh City on Dec. 18.

According to Vietstar Joint Stock Company’s announcement on Dec. 8, the plant, at a cost 53 million USD, will handle 1,200 tonnes of solid waste per day.

Located in Cu Chi district, the plant will provide 600 jobs for local residents, bringing benefits in not only the environment but also the city’s economy, Vietstar Chair of the Board of Management and Acting General Director Poldi Gerard said.

Vietstar is an affiliate of the US Lemma International company, which invested 10 million USD in the plant.

Go top

(Source: Vietnam News Agency - Vietnam Plus)


Japan pledges record aid of 1.6 billion USD

The Japanese Ambassador to Vietnam Mitsuo Sakaba announced on December 3 a new record high of Japanese aid commitment to Vietnam for the 2009 fiscal year (from April 2009 to March 2010) of 1.6 billion USD.

The announcement came as representatives of international donors, foreign missions and government officials gathered for Vietnam ’s Consultative Group Meeting – the biannual talks where official development assistance (ODA) is announced.

The Japanese aid will be used to support national infrastructure projects in Vietnam , including the expansion of Noi Bai international airport, the Noi Bai-Nhat Tan Highway and the Hoa Lac High-tech Park , revealed the Japanese Ambassador.

This is a record commitment for the Japanese government. At the 2007 donors meeting, Japan pledged 1.1 billion USD in aid for Vietnam but refused to provide any commitments to ODA at the 2008 meeting following a corruption case where the Japanese company Pacific Consultant International (PCI) was accused of bribing senior Vietnamese officials to win bids for contracts.

Ambassador Sakaba said that Japan has decided to “resume as normal” the procedures for providing aid to Vietnam because after the PCI case, both countries signed an agreement on a “detailed system of checking bidding procedures” this February.

“So far we are satisfied with this new transparent system for allocating Japanese ODA,” Sakaba told the press.

Meanwhile, the Head of the European Commission delegation to Vietnam, Ambassador Sean Doyle said that in terms of implementing projects, “some of the problems remain, but Vietnam has worked very well on its economy.”

“The aid is proceeding very well and we are very happy with the way the Vietnamese government is using it,” he told the Vietnam News Agency. The EC official also revealed that in general, donors are very supportive of Vietnam because they “admire” what has been done and “respect” the government’s ambition to move forward after “coming out of the recession in very good shape.”

“And when I say that, I think it is true of all the donors assembled here today,” he confirmed.

The greatest concern for the European Union now, he said, is to help Vietnam develop faster, especially increasing the added value of its exports and its domestic consumption. Moreover, the EU will continue to help Vietnam access European markets and transfer more European technology to Vietnam , especially in areas concerning climate change.

The Country Director of the Asian Development Bank (ADB) in Vietnam , Ayumi Konishi, later told the meeting that the bank has approved assistance of over 2 billion USD this year. The money will be used to develop renewable and clean energies and fund a scheme to help local private enterprises.

At the 2008 meeting, donors committed a total 5.014 billion USD in ODA to Vietnam , of which the ADB pledged 1.56 billion USD and the EU contributed over 893 million USD.

Go top

(Source: Vietnam News Agency - Vietnam Plus)


ODA forecast to pass 5 billion USD

The Ministry of Planning and Investment (MPI) has forecast that the country can reach its ODA commitments of 5.056 billion USD this year, after intensifying its efforts to attract ODA over the last ten months.

According to the MPI, over 3.85 billion USD of ODA has been pledged in the past ten months, representing a rise of 9.85 percent over the same period last year. This sum included 3.7 billion USD in loans and the remainder in non-refundable aid.

The World Bank (WB), the Asia Development Bank (ADB) and Japan remain the major providers of ODA to Vietnam for projects and programmes involving transport, water supply, urban development, energy, rural development and poverty reduction, said the ministry.

It estimates that ODA worth over 1.2 billion USD will be agreed upon in the last two months of the year.

This amount will cover the building of Thai Binh power plant worth 111 million USD, a sixth credit programme worth 96 million USD, a programme to develop human resources in the health sector valued at 60 million USD and the Vinh Thinh bridge project worth 100 million USD.

Based on the fact that 1.86 billion USD of ODA was disbursed in the past ten months, or 98 percent of the yearly plan, the MPI calculates that the disbursement of ODA will reach 3 billion USD for the whole year.

International financial analysts have a high estimation of Vietnam ’s response to this years economic crisis which has enabled the national economy to recover rapidly and may soon build up enough momentum to grow, said the MPI.

It raised the issue that in 2010, European donors will revise their ODA policies on Vietnam and gradually reduce the amount of non-refundable aid and focus more on providing technical assistance.

However, the ODA regulator is of the opinion that the country would not face a drop in ODA in 2010 due to the appearance of new channels of credit, but of course with less preferential treatment than before.

As a result, the MPI estimates that in 2010 the country will receive ODA commitments of 5.07 billion USD with the biggest providers remaining the WB, ADB and Japan, who all can pledge up to 70-80 percent of the value of the committed ODA.

Large projects that use ODA loans in 2010 will include a 710 million USD project to build an international terminal (T2) at Noi Bai airport, the 1.3 billion USD Da Nang-Quang Ngai expressway, a 615 million USD infrastructure project for Lang-Hoa Lac Hi-tech Park and the construction of a 150 million USD road linking Hanoi’s outlying Nhat Tan bridge to Noi Bai airport.

According to the MPI, if the ODA estimates become a reality, the ODA that the nation will attract for the 2006-2010 period will hit 20 billion USD, surpassing the target of 12.3-15.7 billion USD put forward in the ministry’s plans to attract and use ODA.

Go top

(Source: Vietnam News Agency - Vietnam Plus)


Ho Chi Minh City leads in FDI attraction

Ho Chi Minh City leads the country in foreign direct investment (FDI) attraction with more than 27.29 billion USD poured into 3,469 projects so far this year.

Against 2008, the number of FDI projects increased by 370 and the total capital rose by 1.69 billion USD.

The top investors include the Republic of Korea, Singapore, Malaysia, Japan, the UK, France and the US.

In November alone, the city licensed 318 FDI projects capitalised at 813.3 million USD. Of that figure, the real estate sector attracted the most capital, 512.6 million USD injected into 15 projects, while the trade sector absorbed 117 million USD into 77 projects and the industry sector 109.5 million USD into 34 projects. The information technology industry drew only 11.1 million USD into 71 projects.

Also in November, 106 projects increased their investment capital with a total of 328.4 million USD added.

The FDI sector posted 7.54 billion USD in import-export turnover in the past 11 months of this year, of which exports reached 4.215 billion USD, down 8 percent year-on-year, and imports, 3.327 billion USD, down 18.1 percent.

The sector’s November industrial production value reached 17.35 trillion VND, bringing the total value for the past 11 months to 159.95 trillion VND, up 8.9 percent over the same period last year.

Go top

(Source: Vietnam News Agency - VNA)


Vietnam enters top ten software outsourcing destinations

Vietnam ranks ninth among 10 attractive nations for outsourcing in the world, according to a recent survey conducted by Tholons/Global Services Group.

According to Tuoi Tre (Youth) newspaper, Ho Chi Minh City continues to be selected by Tholons/ Global Services as one of the world’s six leading cities in application development & management (ADM) and game and cartoon development.

This is also the second consecutive year HCM City has entered the top 50 Emerging Outsourcing Cities. In 2006, the city was named in the list thanks to low labour costs and high standards in the IT sector.

Tholons/Global Services rankings are based on six criteria, including the proportion and quality of human resources, labour costs, trade promotion activities, infrastructure, risk levels and living standards.

According to the Vietnam Software Association (VINASA), the local software industry has been developing with an annual growth rate of 30-40 percent. The country is home to more than 720 outsourcing companies and nearly 9,000 IT engineers who have been trained at universities and colleges.

Go top

(Source: Vietnam News Agency - VNA)


Vietnam to explore for oil in Cambodia

The PetroVietnam Exploration and Production Corporation (PVEP) and Cambodia's National Petroleum Authority (CNPA) signed a contract on Nov. 12 to drill for oil in block XV, northeast of Tonle Sap Lake,  on Cambodia’s mainland.

Under the contract, signed by PVEP’s President and CEO Nguyen Vu Truong Son and the Cambodian Deputy Prime Minister cum CNPA Chairman Sok An, the Vietnamese partner will hold a 100 percent interest.

The project will be managed and operated by PVEP-Mekong, a subsidiary of PVEP who is currently operating oil fields in Laos and Myanmar.

The duration of the contract is 30 years for oil and 35 years for gas and exploration is expected to take seven years.

According to Nguyen Vu Truong Son, the contract plays an important role in developing the comprehensive relationship between Vietnam and Cambodia, and is also a breakthrough for the two countries in working together in the oil and gas industry.

The contract is PVEP’s 55 th project and the 17 th project it operates by itself.

Go top

(Source: Vietnam News Agency - VNA)


Fund pours 223 million USD into real estate

The Singaporean-headquartered CapitaLand has deployed 299 million Singaporean dollars (223 million USD) to further its growth in the real estate sector in Vietnam.

In a press release last week, the company says Vietnam is the group’s potential fourth pillar of growth in addition to its core markets of China , Singapore and Australia .


“ Vietnam is a key Asian market for CapitaLand Group. The country’s strong economic growth and rapid urbanisation have presented many opportunities for international real estate companies like CapitaLand,” says the press release.

Currently, CapitaLand Group’s presence in Vietnam is in HCM City, Hanoi and Hai Phong, in the residential and serviced residences sectors.

Following the successful launch of The Vista in HCM City, CapitaLand has invested in a new residential development project in Hanoi named Mulberry Lane.

In October, CapitaLand started pre-sales activities for one of the five towers at Mulberry Lane . All 330 units released were fully booked in two days. The units were sold at prices between 1,350 USD and 1,700 USD per sq.m.


CapitaLand is one of Asia ’s largest real estate companies. Its subsidiaries and associates include Australand, CapitaMall Trust, CapitaCommercial Trust, Ascott Residence Trust and CapitaRetail China Trust.

Go top

(Source: Vietnam News Agency - VNA)


Russia set to prepare for agreements with Vietnam

A delegation of business representatives from Russia will visit Vietnam from Nov. 8-9 to prepare for cooperation agreements in finance, energy, machinery manufacture and military technique.

Andrey Kostin, President of Board of Directors of the Vneshtorbank of Russia announced this on Oct. 29 during a working session with Prime Minister Vladimir Putin the same day.

Kostin further said that the delegation will prepare proposals and tentative practical cooperation agreements, which are expected to be signed during Vietnamese Prime Minister Nguyen Tan Dung’s up-coming official visit to Russia.

Earlier, PM Putin spoke on the phone with PM Dung and invited the latter to pay an official visit to Russia.

The two sides discussed several issues, including prospects for the development of bilateral economic and trade relations. They were pleased at the growth of trade turnover between the two countries of 5.7 percent despite the global financial crisis.

Go top

(Source: Vietnam News Agency - VNA)


Home | About Us | Investment & Business Consulting | Intellectual Property Attorney | Legal Services | News & Events


 

@ Copyright NTK CONSULTING GROUP