President of the Vietnam Chamber of Commerce and Industry (VCCI), Vu Tien Loc, said Russia is an important commercial partner of Vietnam , especially in the field of investment cooperation.
Addressing the Vietnam-Russia business forum in Hanoi on Oct. 25, Loc said this event will create momentum to boost the bilateral economic and commercial relations.
It is also an opportunity for their businesses from the two countries to clearly understand the potentials, advantages and difficulties of each other.
Russian acting commercial counselor to Vietnam Melnikov Sergey Fedorovich said Russian businesses should promote cooperation and investment with Vietnamese partners, especially in the fields of construction, mineral exploitation and trade.
The VCCI also introduced at the forum the Vietnam – Russia business council, expecting that it will be an effective dialogue channel between businesses and governmental agencies.
Vietnam – Russia ’s two-way trade in the first six month of this year increased 229 percent compared to the same period last year and it is expected to reach 1.6 billion USD in 2008.
Russia has invested in 55 projects in Vietnam with a total investment of 300 million USD.
Vietnam has 11 investment projects in Russia totaling more than 33 million USD, mainly in the fields of textile, food processing and construction materials production. | 
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