Russian heavyweights seek opportunities in Vietnam's energy, high-tech fields

Prominent Russian companies Zarubezhneft, AFK Sistema, and Cyberus are seeking investment opportunities in energy and high technology in Vietnam.

They disclosed the information at their separate meetings on Sunday with Vietnam's Party chief To Lam, who was making an official visit to Russia.

Kudryashov Sergei Ivanovich, general director of oil and gas giant Zarubezhneft, said that his company and Petrovietnam are advancing natural gas initiatives, including an LNG terminal project, with an aim to develop a modern liquefied gas supply chain for Vietnam and the broader region.

The two sides are also accelerating research and implementation of renewable energy projects, including offshore wind power and green hydrogen facilities, he added.

Ivanovich noted that Zarubezhneft is collaborating closely with Petrovietnam on oil and gas exploration projects both on Vietnam’s continental shelf and within Russia, and the joint projects are progressing efficiently.

He stressed Zarubezhneft’s wish to foster long-term, sustainable partnerships with Vietnamese companies, asking the Party chief to continue creating favorable conditions for its expansion, "based on mutual benefits and the two countries' shared development goals".

Lam noted that cooperation in energy and oil-gas remains a key pillar of the Vietnam-Russia comprehensive strategic partnership. He affirmed Vietnam’s consistent support for business cooperation between the two nations, in line with each country's legal frameworks and their comprehensive strategic partnership.

Later, in a talk with Lam, Vladimir Yevtushenkov, founder of AFK Sistema, stated that AFK Sistema views Vietnam as one of its top priority markets in the region and is ready to expand long-term investment cooperation in the Southeast Asian country.

AFK Sistema, one of Russia’s leading multi-sector private investment firms, operates in fields like telecommunications, information technology, semiconductors, e-commerce, healthcare, agriculture, construction, hotels, and tourism.

Lam stressed that Vietnam attaches importance to enhancing economic, scientific, and technical cooperation with major Russian companies, including AFK Sistema.

He assured that favourable conditions would be created for AFK Sistema to soon implement cooperation projects in the country, particularly in the sectors of information technology, semiconductors, healthcare, and high technologies, aligned with Vietnam’s national goals of sci-tech breakthroughs, innovation, and digital transformation.

In a meeting with the Vietnamese leader, Yury Maksimov, co-founder of Cyberus and Positive Technologies, expressed his hope that Vietnamese authorities would facilitate the company's participation in sci-tech projects.

Lam welcomed the companies as a promising partner in potential investment and cooperation projects, especially in the field of cybersecurity.

The Party leader noted that Russia has played a significant role in training tens of thousands of Vietnamese professionals in science and technology. He pledged to instruct relevant authorities to assist Cyberus in seeking potential partners and opportunities in Vietnam.

Lam also received Chairman of the Russian Maritime Board Nikolai Patrushev, who noted that Vietnam and Russia have already carried out a number of cooperative projects in the fields of defence, security, and healthcare.

The Russian official proposed Vietnam work more closely with the Maritime Board to help ensure maritime security and safety in the Pacific region, in full respect of international law. He suggested Vietnam participate in naval exercises, joint search and rescue operations, and shipbuilding initiatives.

Lam welcomed the proposals. Highlighting good opportunities to advance bilateral marine cooperation, he called for continued discussions to develop a concrete roadmap and formalize cooperation not only in military aspects but also in broader areas such as the marine economy, shipbuilding, logistics, integration with Russia's maritime transport networks, scientific research, and responses to non-traditional security challenges.