Russian businesses to expand long-term investments into Vietnam

As part of his official visit to the Russian Federation and attendance at the commemoration of the 80th anniversary of Victory in the Great Patriotic War, General Secretary To Lam, accompanied by his spouse, met with leading Russian investors and business executives on May 11, 2025. Deputy Minister of Industry and Trade Nguyen Hoang Long joined the delegation and took part in the Vietnam–Russia Business Forum.

According to the Department of Foreign Market Development (Ministry of Industry and Trade), economic and trade cooperation constitutes a key pillar of the Comprehensive Strategic Partnership between Vietnam and the Russian Federation.

Deputy Minister of Industry and Trade Nguyen Hoang Long in a meeting with Sergei Ivanovich Kudryashov, General Director of Zarubezhneft. Photo: Department of Foreign Market Development

In recent years, bilateral cooperation in these fields has seen consistent growth. Eminent entrepreneurs and investors from both sides have played a central role in unlocking the potential of Vietnam–Russia collaboration.

Despite a tightly packed schedule, General Secretary To Lam took time to meet with several distinguished Russian business leaders, including Sergei Ivanovich Kudryashov, General Director of Zarubezhneft, a strategic partner of Vietnam National Industry - Energy Group (PVN); Vladimir Yevtushenkov, founder of AFK Sistema, one of Russia’s leading diversified private investment groups; and Yuri Maximo, co-founder of Positive Technologies—among the largest IT firms in the country.

The General Secretary praised and welcomed the ongoing cooperation efforts of Russian enterprises in Vietnam, especially in traditional sectors such as energy, oil and gas, and trade.

He also emphasized Vietnam's openness to future cooperation in emerging and high-potential sectors such as advanced technologies, telecommunications, healthcare, and cybersecurity. Vietnam, he noted, remains committed to creating the most favorable conditions for foreign investors, including those from the Russian Federation.

The Russian business representatives reaffirmed Vietnam’s position as a high-potential market and expressed their readiness to expand long-term investment through both ongoing projects and new cooperation proposals in the near future.

General Secretary To Lam reaffirmed his commitment to directing relevant Vietnamese authorities, including the Ministry of Industry and Trade, to actively support Russian enterprises throughout project implementation.

Following the high-level business meetings, Deputy Minister Nguyen Hoang Long accompanied the General Secretary to the Vietnam–Russia Business Forum, which gathered around 250 companies from both nations. The delegation also attended the inauguration ceremony of TH Group’s fresh milk processing plant in Kaluga province and witnessed the signing of seven bilateral cooperation agreements.