28 May 2004 08:31
Business & Investment: Vietnam Businesses Join with Russia, Hungary, UK after President`s Tour
The visit of Vietnam President Tran Duc Luong to Russia, Hungary and the UK will open a new period to bilateral
relations between Vietnam and the three European countries, Deputy Prime Minister Vu Khoan said about Luong's tour,
which last from May 17-26.
Investment contracts and economic promoting commitments are the most important outcome of the trips, Khoan
confirmed.
Whilst in Russia, the first destination of Luong, a series of proposals was put forward in relation to setting up
farm produce processing joint ventures to sell products in Russia, and boosting bilateral cooperation in finance and
banking.
Oil and gas exploitation, energy, coal, chemicals, pharmaceutical industries, education and training will lead the
way in Vietnam and Russia's cooperation, committed Luong and Russian leaders. They also vowed to assist their
businesses in promoting their economic and commercial relations aiming to target a trade turnover of $1 billion.
A contract to export rice of $15.6 million to Russia and an agreement to set up partnerships with Russian enterprises
to export Vietnam's rice to Africa were signed, Khoan revealed.
With Hungary, Vietnam wants to increase its supply of consumer goods, seafood and agricultural products to the
foreign country, and hopes the two sides will join in processing goods for export to other countries, especially in the
EU, where Hungary now has a firm foothold.
President Luong called on the Hungarian Government and businessmen to invest more in his country and continue its
assistance to Vietnam in education, training and tourism.
During Luong's visit, Hungary pledged an annual official development assistance (ODA) of up to $50 million for
Vietnam in the near future.
The UK, the last leg of Luong's journey, showed its interest in financial, banking, oil and gas, and
telecommunication fields and pledged its support to Vietnam in expanding markets in the EU, mainly for exporting
footwear, textiles and garments, aquacultural and agricultural products.
The British government also signed agreements on enhancing inspection capacity of Vietnam Ministry of Planning and
Investment (MPI), offering credit to Vietnam Airlines to purchase planes, and a memorandum of understanding with Vietnam
Posts and Telecoms (VNPT) on establishing submarine fiber-optic cables from Hong Kong to the central Danang city.
This is the second time Luong has gone abroad this year. The president paid his first trip to Bangladesh and Pakistan
in March.
(The People May 28 p1, People's Army May 28 p1, Young People May 28 p1)
[Vietnam News Briefs] |
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