The Hanoi-Moscow Business Forum, held on December 1 in Hanoi, was a pivotal event within the “Moscow Days in Hanoi” program, celebrating the 75th anniversary of diplomatic ties between Vietnam and Russia. This forum underscored the deepening economic and investment collaboration between the two nations, particularly their capital cities.
Discussions at the forum centered on fostering economic and investment partnerships between Vietnam and Russia, with a special focus on Hanoi and Moscow. According to recent data, bilateral trade surged to $4.59 billion in 2024, marking a 26% increase from 2023. This growth highlights the robust complementarity and resilience of both economies, especially in industrial technology and logistics.
HANOI PRIORITIZES HIGH-TECH INVESTMENT FROM RUSSIA
Addressing the forum, Mr. Nguyen Manh Quyen, Vice Chairman of the Hanoi People’s Committee, emphasized Hanoi’s commitment to fostering a favorable environment for Russian businesses. “As Vietnam’s political and administrative hub and a key economic center, Hanoi offers a transparent business climate, advanced infrastructure, and a vibrant young workforce,” he stated. To date, Hanoi has attracted $167.5 million in Russian FDI, primarily in manufacturing, IT, hospitality, trade, and construction. While this figure is modest compared to potential, it lays a solid foundation for future collaboration.
Hanoi is prioritizing high-tech industries, digital transformation, and AI-driven sectors such as smart electronics, precision engineering, automation, biotechnology, cybersecurity, and digital data systems—areas where Russia excels. The city also advocates for restoring direct flights, simplifying trade and tourism procedures, and enhancing the flow of goods, talent, and investment. Green investments and eco-friendly projects with strong technology transfer and workforce development commitments are particularly encouraged. “Hanoi is fully committed to supporting Russian enterprises in their endeavors within the capital,” Vice Chairman Quyen affirmed.
MOSCOW SEEKS TO EXPAND COOPERATION IN TRADE, TECHNOLOGY, AND LOGISTICS
Mr. Sergey Cheremin, Moscow’s Minister of External Economic and International Relations, highlighted Moscow’s economic resilience despite global challenges. The city has significantly reduced its dependence on oil and gas, from 40% to below 5% of its economy, while maintaining steady growth. With over $250 billion in accumulated FDI, Moscow remains a leading financial and technological hub in Eurasia.
Trade between Moscow and Vietnam grew by nearly 30% in 2024, reaching $2.5 billion, signaling vast opportunities for 2025-2030. Mr. Cheremin emphasized Moscow’s shift toward high-tech industries, creative sectors, pharmaceuticals, aerospace, logistics, and artificial intelligence.
A key highlight was Moscow’s smart-city initiatives. The city boasts one of the world’s fastest-growing metro systems, with 120 new stations added since 2011 and plans to reach 517 by 2030. Moscow also operates Europe’s largest electric-bus fleet, significantly cutting CO₂ emissions and promoting green mobility.
The city’s 3D digital twin enables precise urban planning and monitoring, while over 100 AI-integrated public services enhance healthcare, transportation, education, and social welfare, creating an efficient digital ecosystem. Mr. Cheremin stressed that Hanoi-Moscow cooperation has evolved from traditional ties to a robust economic and technological partnership, becoming a model for Russia’s interregional collaborations. Moscow aims to expand cooperation in logistics, aviation, digital transformation, and high-tech manufacturing, aligning with Hanoi’s development priorities.
STRENGTHENING GOVERNMENT–BUSINESS LINKAGES FOR 2025–2030 BREAKTHROUGHS
Mr. Ivan Nesterov, Minister-Counselor of the Russian Embassy in Vietnam, reaffirmed Vietnam’s strategic importance in Russia’s Asia-Pacific strategy. Bilateral trade grew by over 20% last year, reflecting strong political trust and economic recovery. Key cooperation areas include clean energy, nuclear technology, science and technology, industrial production, and logistics. Both nations are also promoting the use of local currencies in trade for greater commercial autonomy.
During thematic sessions, Moscow’s Central and Western Administrative Districts showcased achievements in urban planning, infrastructure, housing, and public spaces. The Central District’s “Renovation” program replaces outdated housing with modern complexes, while the Western District, home to top research institutions, offers potential for scientific and educational collaboration with Hanoi.
The Moscow Department of Labor and Social Protection introduced the “Professions of the Future” program, identifying high-growth occupations and proposing vocational training partnerships with Vietnam. Moscow’s healthcare sector presented its AI-driven “Flagship Medical Centers,” which garnered significant interest from Vietnamese delegates.
In the business-matching session, Vnukovo International Airport proposed expanding logistics links with Southeast Asia and new cargo routes to Vietnam. Pacific Land JSC introduced a high-tech biotechnology park project in Hanoi, while Antey-Sever explored opportunities in seafood processing and cold-storage technology.
ADVANCING TOWARD A NEW ERA OF SUBSTANTIVE COOPERATION
At the forum’s conclusion, Vietnamese and Russian stakeholders agreed to strengthen cooperation through increased delegation exchanges, sector-specific working groups, restored direct flights, expanded educational partnerships, and regular business-matching events. The 2025 Vietnam-Russia Business Forum in Hanoi marked not only a symbolic anniversary but also a strategic milestone for deeper, more practical collaboration between the two capitals and nations.
With 75 years of trusted partnership and a shared focus on technology and innovation, Hanoi-Moscow cooperation is set to enter a new phase—more dynamic, substantive, and conducive to regional stability and prosperity.
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