Vietnam, Russia eye setting up joint venture for maritime transport route

Vietnam and Russia are studying establishing a joint venture operator of a maritime transport route, underscoring their shared commitment to deepening cooperation in shipbuilding, logistics, and maritime infrastructure.

The proposal was made during recent talks in Hanoi between Minister of Construction Tran Hong Minh and Aide to the President of Russia and Chairman of the Maritime Board Nikolai Platonovich Patrushev.

During the talks, Patrushev hailed the comprehensive strategic partnership between Vietnam and Russia, highlighting Russia’s technological expertise and shipbuilding capacity, particularly in producing fishing vessels and passenger ships.

He emphasized Vietnam’s important role in Asia’s shipbuilding sector and expressed Moscow’s wish to strengthen cooperation with Hanoi in shipbuilding, maritime trade, and logistics.

He also encouraged Vietnamese enterprises to participate in the Northern Sea Route – a strategic Arctic shipping lane linking Europe and Asia that significantly reduces shipping time and costs.

Russia is also keen to cooperate with Vietnam in building new shipyards, modernizing existing facilities, and developing research and testing centers for shipbuilding.

Speaking at the event, Russian Deputy Minister of Industry and Trade A. Karimov suggested expanding cooperation into areas such as robotics, communications, biotechnology, geology, and pipeline manufacturing.

He invited Vietnam to take part in the NEVA Exhibition and Conference, the largest civil shipbuilding exhibition in Eastern Europe and one of the world’s top 10 events in the sector.

Executives from Russian corporations, including FESCO and Delo, shared recent progress in logistics cooperation and voiced interest in expanding joint activities in shipbuilding, logistics infrastructure, and training. They stressed the need for a stronger legal framework to facilitate bilateral projects and research.

For his part, Minh welcomed the Russian proposals, stressing that this is a timely opportunity to elevate maritime cooperation.

He reaffirmed the traditional friendship and multifaceted cooperation between the two countries, particularly in transport, which plays a key role in driving trade, tourism, and economic growth.

The minister urged Russia to complete procedures for signing a revised protocol to the 1993 Maritime Trade Agreement and an MoU on cooperation between the Russian Maritime Board and Vietnam’s Ministry of Construction.

He also suggested both sides finalize internal procedures to sign an MoU on mutual understanding in parallel with the amended agreement.

In shipbuilding, Minh proposed that Russia collaborate on developing shipbuilding industrial parks in Vietnam and welcomed Russian investors to explore opportunities in Vietnam’s seaport system under current regulations and WTO commitments.

He encouraged both sides to facilitate Vietnamese and Russian enterprises in expanding logistics operations, particularly the Vietnam-Vladivostok container route. He also recommended that FESCO and Vietnam Maritime Corporation (VIMC) study the establishment of a joint venture to operate maritime transport routes.

Cooperation could also include exchanging crew and vessel data to streamline online administrative procedures in line with the Convention on Facilitation of International Maritime Traffic.

Minh said Vietnam looks forward to Russia’s support in organizing short- and long-term training programs, scholarships, and capacity building for Vietnamese maritime officials and shipbuilding specialists.

He expressed appreciation for Russia’s initiative on the International North-South Transport Corridor (INSTC), saying Vietnam’s participation could open new markets for Vietnamese goods.

He assigned the Vietnam Maritime and Inland Waterways Administration to lead studies on potential engagement in the project and to serve as a contact point for Russian investors.