Connecting businesses to unlock new opportunities

The visit marked Prime Minister Le Minh Hung’s first overseas trip in his new capacity, underscoring Vietnam’s strong commitment to the ASEAN - Russia Strategic Partnership as well as the Comprehensive Strategic Partnership between Vietnam and the Russian Federation.

During the visit, Minister of Industry and Trade Le Manh Hung accompanied Prime Minister Le Minh Hung in a series of bilateral and multilateral engagements, contributing to efforts aimed at advancing cooperation in trade, investment, industry, and energy between ASEAN, Vietnam, and the Russian Federation.

At a meeting with the Rais (Head) of the Republic of Tatarstan, Rustam Minnikhanov, both sides noted that bilateral economic and trade exchanges have yet to fully reflect the existing potential and demand of the two countries, leaving considerable room for localities on both sides to expand practical cooperation.

Rustam Minnikhanov highlighted Tatarstan’s strengths in sectors such as chemicals, KAMAZ truck manufacturing, textiles, and petrochemicals. He expressed his desire to further strengthen ties between Tatarstan and Vietnamese localities, thereby fostering stronger business-to-business connections and facilitating mutually beneficial cooperation.

For its part, Vietnam highly appreciated Tatarstan’s industrial capabilities and reaffirmed its commitment to creating favorable conditions for Russian enterprises, including those from Tatarstan, to invest and operate in Vietnam on a long-term and stable basis.

As part of the working visit, Minister Le Manh Hung also accompanied Prime Minister Le Minh Hung on a tour of the “Made in Tatarstan” Exhibition. The exhibition showcased leading industrial and energy enterprises from Tatarstan, featuring flagship products such as KAMAZ heavy-duty trucks, Aurus luxury vehicles, helicopters, and oil and gas equipment. It also presented advanced information technology solutions developed by the Innopolis Special Economic Zone, including industrial monitoring drones and electric vehicle charging stations.

Strengthening energy and investment partnerships

Continuing the agenda, Minister Le Manh Hung accompanied the Prime Minister to attend the ASEAN - Russia  Business Forum and the Vietnam - Russia Investment and Business Connectivity Programme. These events formed part of a broader series of initiatives in 2026 aimed at promoting trade and investment cooperation between Russian enterprises, ASEAN businesses, and Vietnamese partners.

Addressing the ASEAN - Russia  Business Forum on behalf of the Vietnamese Government, Prime Minister Le Minh Hung proposed several key directions for future cooperation between ASEAN and Russia, focusing on supply chains, energy, technology, innovation, and digital transformation.

On the sidelines of the forum, Vietnam National Industry and Energy Group signed cooperation documents with major Russian partners, including Novatek and Rosatom, with the aim of strengthening bilateral cooperation in the energy sector while expanding collaboration into areas such as science and technology.

Energy and oil and gas cooperation also emerged as a major highlight of Minister Le Manh Hung’s programme. At the Vietnam - Russia Investment and Business Connectivity Programme, and under the witness of the Prime Minister, Minister Le Manh Hung oversaw the exchange of cooperation documents between PETROVIETNAM and Russia’s energy company Zarubezhneft.

These agreements are expected not only to deepen bilateral cooperation in the energy and petroleum sectors but also to lay the groundwork for the implementation of concrete projects that will generate tangible benefits for businesses and the economies of both countries in the years ahead.

Minister Le Manh Hung is expected to continue accompanying Prime Minister Le Minh Hung at a number of other important bilateral and multilateral activities in Kazan as part of the official programme.

According to Vietnamese statistics, the Russian Federation was ASEAN’s tenth-largest trading partner in 2025, with total two-way trade reaching USD 17.81 billion. Bilateral trade between Vietnam and Russia amounted to USD 4.77 billion, representing a 4% increase compared to 2024.

In the first five months of 2026, total import-export turnover between Vietnam and Russia reached USD 2.16 billion, up 6.6% year-on-year. The two countries are working toward the goal of raising bilateral trade turnover to USD 10 billion, in line with the strategic orientation set by their senior leaders.