Russia willing to help build Vietnam’s nuclear power industry: Prime Minister

Russia is willing to help build Vietnam’s nuclear power industry with its extensive experience in the field, says Russian Prime Minister Mikhail Mishustin.

In a talk with Prime Minister Pham Minh Chinh in Hanoi on Tuesday, Mishustin also proposed promoting cooperation in healthcare, labor and pharmaceuticals.

Russia considers Vietnam a key partner in the region and is eager to further enhance their mutually beneficial cooperation in all areas, he stressed.

Vietnam is preparing to restart its nuclear power project to ensure the country’s energy security, net zero 2050 target, and socioeconomic growth.

In November 2024, the parliament agreed to resume the nuclear power project in Ninh Thuan province after an eight-year suspension. Per a prime ministerial directive issued early this month, the project is set to complete within five years.

Mishustin is making an official visit to Vietnam from January 14-15. The trip, over six months after the state visit by President Vladimir Vladimirovich Putin, marks PM Mishustin’s first visit to Vietnam and the first official visit by a high-ranking foreign leader to Vietnam in 2025.

Congratulating the Russian Federation on its achievements in socio-economic development under the leadership of President Putin and the Russian government, PM Chinh said Vietnam considers the traditional friendship and Comprehensive Strategic Partnership with Russia one of its top priorities.

Vietnam consistently implements an independent, self-reliant foreign policy with diversification and multilateralism, he said, adding that the Southeast Asian country hopes to work with Russia to promote security, cooperation and development in the region and the world.

The two sides agreed to increase dialogues, strengthen political trust and promote exchanges at all levels and channels to solidify the foundation for their comprehensive bilateral cooperation, especially in regard to trade, economy, investment, energy, oil and gas, education and training, culture, tourism and science and technology as well as cooperation at the local level.

The two leaders also acknowledged recent positive growth in bilateral trade, noting that much potential remains to be explored.

Breakthrough solutions are necessary to increase two-way trade value, including effectively using the Free Trade Agreement between Vietnam and the Eurasian Economic Union (EAEU), of which Russia is a member.

They also agreed to facilitate imports from each market’s goods to the other, such as agricultural products and pharmaceuticals.

PM Chinh and his Russian counterpart both emphasized the important role of the Vietnam-Russia inter-governmental committee for cooperation, recognizing the positive contributions of the two countries’ ministries and sectors and calling for further cooperation through bilateral agreements.

Vietnam and Russia also expect to further enhance collaboration in education, especially through scholarship programs and the Russian-Vietnamese Consortium of Technical Universities, in addition to people-to-people exchanges, tourism and transportation connectivity.

The two leaders also discussed international and regional issues of mutual concern, confirming commitments to continue coordination and support in multilateral forums.

PM Chinh requested that Russia support efforts to ensure the security, safety and freedom of navigation and aviation in the East Sea (internationally known as the South China Sea), resolving disputes through peaceful means based on international laws and the United Nations Charter, particularly the 1982 United Nations Convention on the Law of the Sea (UNCLOS).

Following their talks, the Vietnamese and Russian PMs signed a joint communiqué and witnessed the signing ceremony of several bilateral agreements in science, communications, culture and other fields.

Later the same day, the Russian PM also met Party General Secretary To Lam and National Assembly Chairman Tran Thanh Man.

In the meeting with the Vietnamese Party chief, PM Mishustin said Russia greatly values Vietnam’s efforts in promoting bilateral cooperation, which has helped the two countries achieve significant accomplishments in all aspects.

Acknowledging the long-standing ties between the two countries, Party General Secretary Lam said Vietnam always remembers Russia’s support during its fight for independence and considers Russia a key partner in its foreign policy.

At the meeting with the Vietnamese top legislator, PM Mishustin also noted the progress on political and diplomatic relations between the two countries, which included inter-parliamentary cooperation.

National Assembly Chairman Man said the Vietnamese parliament has developed and is actively implementing an action plan to carry out the cooperation agreement signed with the Federation Council of the Federal Assembly of the Russian Federation.

This year, Vietnam will welcome the Chair of the Russian State Duma for an official visit to co-chair the fourth session of their Inter-Parliamentary Cooperation Committee.

Vietnam and the former Soviet Union established diplomatic relations on January 30, 1950. After more than 70 years with constant efforts from the generations of leaders and people of both countries, the two nations have made giant steps on their path of cooperation for mutual development, according to the Vietnamese government's news portal.

In 1994, Vietnam and Russia signed the Treaty on Principles of Friendly Relations, which laid the groundwork and legal basis for the bilateral relationship in new period.

The two countries upgraded their ties to a strategic partnership in 2001 and to a comprehensive strategic partnership in 2012. In 2021, the two issued a Joint Statement on 2030 Vision for Development of the Comprehensive Strategic Partnership.

Bilateral trade has grown rapidly, particularly since the Free Trade Agreement between Vietnam and the Eurasian Economic Union officially came into effect in October 2016.

Two-way trade increased from $3.63 billion in 2023 to $4.57 billion last year. As of November 2024, Russia had 199 investment projects in Vietnam with a total registered capital of approximately $990 million, ranking 26th out of 147 countries and territories investing in Vietnam, Vietnamese official data shows.

Russian investment projects cover oil and gas, mining, processing industries, and manufacturing in 21 localities.

Vietnam has 18 investment projects in Russia, with total registered capital of $1.63 billion.

There are currently around 60,000 Vietnamese people living in Russia.