Prime Minister Pham Minh Chinh attended the Vietnam – Russian Federation Business Forum in Moscow on March 24, as part of his ongoing official visit to the European country.

Prime Minister Pham Minh Chinh and officials witness the exchange of cooperation documents between Vietnamese and Russian businesses at the Vietnam – Russian Federation Business Forum in Moscow on March 24.

Also attending the event were Russian Deputy PM Dmitry Chernychenko; Vietnamese Deputy PMs Tran Hong Ha and Bui Thanh Son; leaders of Vietnamese and Russian ministries, agencies, and localities; and notably 220 delegates representing 120 top enterprises from both countries.

Delegates were briefed on the business environment of Vietnam and Russia, along with each country’s investment potential and priority projects.

They also explored advantages and challenges in cooperation and investment, and proposed solutions to drive ties in the fields of energy, telecoms, banking, finance, agriculture, tourism, industry, construction, and real estate.

In his speech, Chernychenko affirmed Vietnam as a reliable partner of Russia in the Asia-Pacific region, stressing that Russia attaches great importance to the bilateral Comprehensive Strategic Partnership and wishes to further improve the effectiveness of all-around collaboration.

Praising Vietnam’s economic growth and development strategy, he said Russia has strengths and stands ready to cooperate and invest in Vietnam in the spheres of energy, including oil and gas, and coal; agricultural products such as meat, wheat, fertilisers; transport encompassing aviation, shipping, and railways; tourism, and workforce training, while making full use of the Eurasian Economic Union (EAEU) – Vietnam Free Trade Agreement, of which Russia is a member.

Russia stands ready to expand cooperation in new, clean, and renewable energy to contribute to Vietnam’s green transition and sustainable development, he said, noting that the recently signed agreement on cooperation in building a nuclear power plant in Vietnam serves as a clear example.

As there remains ample potential for trade and investment, Chernychenko expressed his hope that businesses at the forum would continue to share ideas, connect opportunities, and explore investment prospects, thereby contributing to developing the two economies amid global economic challenges.

PM Chinh, in his address, stressed that the complex global situation is weighing on the world economy, requiring the two countries to “unite to create strength, cooperate for mutual benefit, and engage in dialogue to build trust” and to “listen with sincerity, share with heart, and act through concrete products.”

Reviewing more than 75 years of loyal and steadfast Vietnam – Russia relations, he said bilateral trade hit 4.77 billion USD in 2025. Russia now has 199 projects worth 990 million USD in Vietnam, ranking 26th among 147 countries and territories investing in the Southeast Asian country, while Vietnam has 16 projects valued at 1.6 billion USD in Russia.

Noting that economic ties have yet to match the strength of political and diplomatic relations, the Vietnamese leader said that during his official visit, he held talks and met with Russian leaders and visited various socio-economic establishments in Russia to boost comprehensive cooperation, particularly economic ties through specific projects.

Providing an update on Vietnam’s current situation and development orientation, PM Chinh said the country is pursuing two centennial goals, which are to become a developing nation with modern industry and upper-middle-income status by 2030, and a developed, high-income country by 2045.

He noted that Vietnam has adopted strategic resolutions prioritising sectors in which Russia holds particular strengths, including oil and gas, nuclear power and clean energy; science – technology, innovation and digital transformation; as well as foundational sectors such as health care, education and training.

Infrastructure development, spanning transport, telecommunications, green infrastructure, climate response, health and education, is also a key focus.

The Vietnamese leader called on businesses from both countries to step up discussions and explore new investment opportunities.

He expressed confidence that basing on the strong bilateral political and diplomatic ties, they will carry out many concrete joint projects in the near future, helping elevate the Vietnam – Russia relations to a more substantive and effective level while supporting the fast and sustainable development of each nation.

At the forum, witnessed by PM Chinh and high-ranking officials from the two governments, companies from Vietnam and Russia exchanged four cooperation agreements covering oil and gas, maritime transport, railways and logistics.

On March 23, the PM met with leaders of Vietnam's TH Group regarding its dairy farming and processing complex in Russia.

Launched in 2018, the project involves dairy farms and milk-processing facilities in Moscow and Kaluga Oblast, with strong support from both governments.

In Kaluga, TH Group has developed a herd of about 3,300 dairy cows while the first phase of its plant, inaugurated in May last year, has a capacity of 500 tonnes per day.

In Moscow, the group is farming nearly 2,800 dairy cows. Meanwhile, in Primorsky Krai in Russia’s Far East, it is reclaiming 13,000 hectares of land to grow fodder, with plans to raise 12,000 dairy cows and build a plant capable of processing 250 tonnes per day.

PM Chinh expressed his hope that the project will serve as a “lighthouse” for Vietnam's overseas investment in Russia and beyond, particularly in agricultural exports.

He said the project’s success will help advance bilateral relations in a more practical and effective direction, pledging Vietnam’s support and advocacy to ensure favourable conditions from the Russian side in line with each country’s laws and development strategies.

The PM also urged TH Group to continue expanding the project in the green, clean and high-technology direction, thus strengthening the TH brand and enhancing the reputation of Vietnamese enterprises and products in Russia and the world.

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