Vietnam wants more Russian investments in database, pharma, cryptocurrency market building: Prime Minister

Vietnam wants more cooperation and investment from Russian companies in building and connecting databases, IT, digital transformation, cybersecurity, pharmaceuticals, and nuclear energy for peaceful purposes, said Prime Minister Pham Minh Chinh.

Other fields of interest are telecommunications, cryptocurrency market development, underground and outer space exploitation, including underground metro systems in Hanoi and Ho Chi Minh City, and tourism, Chinh told Vladimir Petrovich Evtushenkov, founder, majority owner and former chairman of AFK Sistema, at their meeting in Hanoi on Monday.

AFK Sistema is a major Russian conglomerate with interests in telecom, high tech, digital service, e-commerce, healthcare, agriculture, pharmaceuticals, and accommodation services.

The cabinet leader emphasized that the Vietnamese Government supports businesses from both countries establishing direct relationships and strengthening cooperation in areas where Russia has strengths and Vietnam has great needs.

He noted that Vietnam always highly values the traditional friendship and comprehensive strategic partnership with Russia, and wishes to continuously develop that relationship.

The Prime Minister said he highly evaluates AFK Sistema's rapid development and its timely collaboration with major Vietnamese companies recently. He asked the group to invest more in Vietnam and cooperate more closely and efficiently to contribute to the realization of agreements reached by high-level leaders.

Chinh added that Vietnam is preparing to implement a national single-window investment mechanism, and instructed relevant agencies to support the Russian corporation in carrying out cooperation, trade and invesment activities in Vietnam.

In response, Vladimir Petrovich Evtushenkov stated that AFK Sistema is committed to strengthening partnerships and investments with countries in the Asia-Pacific region, and that Vietnam is always a reliable business destination and partner, the Vietnamese government's news portal reported.

Based on the strong traditional friendship between the two countries, Evtushenkov said he highly appreciates the potential for cooperation with Vietnamese businesses and affirmed his commitment to promoting cooperation with Vietnam in the areas directed by the Prime Minister.

He affirmed his desire to increase the localization rate and his readiness to transfer technology and provide professional training for Vietnamese personnel to bring long-term efficiency and benefits to both sides.

AFK Sistema, established in 1993 in Moscow, is the largest private corporation in Russia with approximately 300,000 employees. The group aims to become a world's leading high-tech investment fund.