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Posted: Wednesday, September 22, 2010

Vietnam is a potential market for Russia firms, particularly in the areas of petroleum, metallurgy, energy and auto spare part and machine production, said Vietnamese Minister of Industry and Trade Vu Huy Hoang.
Hoang made the call at Vietnam-Russia Economic Forum held in Moscow on September 15 during the framework of an event named “Vietnamese Days in Russia 2010”.
The minister also urged Russian companies to invest in fishery, banking, aviation services and particularly hi-tech sector which are top priority of Vietnam.
At the gathering, Vice Chairman of the Chamber of Commerce and Industry of Russian Federation George Petrov said many Russia businesses are interested in Vietnam for its young and abundant labor, political stability and bright business opportunities.
As of Aug 20, Russian firms invested $894.42 million in Vietnam, ranking the 23rd among 89 countries and territories investing in the Southeast Asian nation.
To date, Vietnamese firms have pledged to pour a total $1.7 billion into Russia by end-2009, making the Eastern European country to become its second most attractive destination just behind Laos. (


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