Vietnam seeks AI, energy, space cooperation with Russia in Putin’s fifth visit

Vietnam seeks stronger ties with Russia in key areas corresponding to its needs and Russian strengths, a senior diplomat said on the eve of President Vladimir Putin’s fifth visit to the country.

The visit is being made at the invitation of Vietnam's Party General Secretary Nguyen Phu Trong, the Ministry of Foreign Affairs said.

In a preview conversation cited by the ministry ahead of Putin’s two-day (June 19-20) state visit to Vietnam, Vietnamese Ambassador to Russia Dang Minh Khoi listed life sciences, energy technology, space technology, natural resources, finance-technology (fintech), artificial intelligence (AI), and biomedical science as some of the areas with cooperation potential.

Elaborating on Vietnam-Russia cooperation in science-technology, Khoi noted that the two countries should design suitable policies and financial sources for joint research and project implementation, while conducting more delegation exchanges.

On education-training, another key cooperation area between the two countries, Khoi said Vietnam and Russia are preparing to sign a new treaty to replace the one signed in 2005; as also other agreements related to establishment of a language-culture Pushkin center in Vietnam and training in Russia for Vietnamese citizens.

Currently, the Russian government provides 1,000 scholarships annually to Vietnam, the diplomat noted. Vietnam should focus on sending students to Russia to pursue courses in technology, applied sciences, fintech, healthcare, and culture-arts, Khoi added.

Putin’s visit to Vietnam will fortify mutual respect, friendship, and unity between the two countries, benefiting both peoples and promoting peace and stability in the region and the world, the ambassador anticipated.

During the Russian president’s visit, the leadership of both countries will discuss cooperation steps until 2030, focusing on economy-trade, defense-security, energy, science-technology-education and people-to-people ties.

Trade between Vietnam and Russia reached $5.5 billion in 2021, fell to $3.55 billion in 2022 and rebounded 2.3% to $3.63 billion in 2023, according to Vietnam's Ministry of Industry and Trade and the General Statistics Office. In the first five months of 2024, the figure rose 51.4% year-on-year to $1.96 billion.

As of this May, Russia's direct investment in Vietnam hit $1 billion with 186 projects, while corresponding figures for Vietnam's investment in Russia were $3 billion and 25 projects, according to Vietnam's Ministry of Planning and Investment.

In an interview granted to Vietnam News Agency in Moscow, Dr. Ivan Nikolaievich Timofeev, director general of the Russian International Affairs Council (RIAC), commented that the upcoming Vietnam state visit by President Putin demonstrates the Eurasian nation’s keen interest in strengthening the bilateral relations.

Advancing economic and trade cooperation will be a top priority for both nations, and the visit will catalyse digital transformation efforts. Additionally, the oil and gas sector remains a key area of economic cooperation between Vietnam and Russia.