As part of his official visit to the Russian Federation, in the late afternoon of September 9 (local time), Chairman of the National Assembly Tran Thanh Man held a meeting with representatives of the Vietnamese Business Association in Russia.
Reporting to Chairman Tran Thanh Man, the businesses reflected on the advantages and challenges they face in their investment and business operations in Russia.
A representative of the Vietnam-Russia joint venture in the oil and gas sector shared that since its establishment in 2008, the enterprise has extracted 40 million tons of crude oil, bringing in nearly $1 billion to the country. Looking ahead, to expand their market share, they need to sign a cooperation agreement for new oil and gas blocks. With such an agreement in place, they could potentially increase their crude oil extraction to 55 million tons. Therefore, the enterprise proposed that both Russia and Vietnam facilitate the decision-making process for foreign investment in new oil and gas projects based on the Inter-Governmental Agreement.
A representative from TH True Milk shared their successful journey in building dairy farms and milk processing plants in Russia and requested support from the Russian side in logistics services to facilitate smoother transportation of goods.
The businesses also expressed their desire for more relaxed regulations regarding work permits for Vietnamese citizens in Russia to address the issue of labor shortage. Currently, the administrative procedures for obtaining work permits are lengthy and time-consuming, while the permits themselves are only granted for a short period of one year. This also affects the temporary residence status of the workers’ children, impacting their access to education. According to Russian law, for children of foreign citizens to attend public schools, they must have permanent residence status.
After listening to the opinions of the business representatives, Chairman Tran Thanh Man emphasized the traditional friendship and comprehensive strategic partnership between Vietnam and the Russian Federation.
The Chairman commended the Vietnamese businesses for their investment of approximately $3 billion in Russia, while Russian businesses have invested in Vietnam with 200 enterprises and $1 billion. He suggested that the level of investment between the two countries should be commensurate with the excellent bilateral relations. The Chairman also requested that the business community continue to unite, comply with the laws of the host country, and contribute to the development of both the Russian Federation and their homeland Vietnam, further deepening the comprehensive strategic partnership between the two countries.
Chairman Tran Thanh Man appreciated the efforts of the Vietnamese Embassy in Russia and personally thanked the Ambassador for their dedicated work. He further requested that the Embassy continue to promote relations with local authorities, ministries, and sectors of the two countries. The Chairman also proposed that Deputy Prime Minister Tran Hong Ha pay attention to the enterprises’ suggestions and continue to make proposals to the Russian side at the upcoming meeting of the Vietnam-Russia Inter-Governmental Committee on September 11-12.
A Meeting of Great Minds: Prime Minister Pham Minh Chinh and the Lao People’s Revolutionary Party Central Committee’s General Secretary and President
On the afternoon of September 10, at the Government Headquarters, Prime Minister Pham Minh Chinh met with the General Secretary and President of the Lao PDR, Mr. Thongloun Sisoulith. This meeting was held on the occasion of the official state visit to Vietnam by the Lao leader, who was accompanied by a high-level delegation of the Lao People’s Revolutionary Party and Government.
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## Warm Welcome for the Mozambican President by General Secretary and President Tô Lâm
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Upon the invitation of General Secretary and President To Lam and his spouse, the President of the Republic of Mozambique, Filipe Jacinto Nyusi, and his spouse, arrived in Hanoi on September 8 for a three-day official visit to Vietnam.
Petrovietnam Extends Support to Fellow Citizens Affected by Storm Yagi
On September 10, in Hanoi, the Vietnam National Oil and Gas Group (Petrovietnam) launched a donation drive to support the people of the localities affected by the recent Storm No. 3 (Yagi). The drive aims to assist in relief efforts and help the community recover from the storm’s aftermath.
“SGI Capital: Equity Inflows Unlikely to Improve Amid Global Market Turbulence”
According to SGI Capital, the Vietnamese stock market has never witnessed a phase where it sustains an upward trajectory amidst a sharp decline in liquidity.
Prime Minister: Proposing a Goal to Rank Our Country Among the Top 30-35 Largest Economies Globally
On the morning of September 9, Prime Minister Pham Minh Chinh, Head of the Sub-Committee for Socio-Economic Affairs of the 14th National Congress of the Party, chaired a meeting of the Government’s Standing Committee with the Standing Committee of the Socio-Economic Sub-Committee.
