Russia, Vietnam Launch Shipbuilding Joint Venture

The inter-governmental commission of Russia and Vietnam met in Vladivostok, Russia on Saturday, September 6, to sign an agreement  to form joint ventures in the shipbuilding and light industries, Itar-Tass reports.

Russian Deputy Minister of Industry and Trade Viktor Yevtukhov said that the shipbuilding enterprise is planned to be built in Vietnam, and three light industry factories in Russia – two in the Primorsky Territory, Far East, and one in the Moscow Region.

After the commission meeting, Vietnam’s Deputy Prime Minister Hoang Trung Hai said that it had been agreed for a light industry cluster to be set up in Vladivostok, with Vietnamese investments to be made on preferential terms.

The 17th meeting of the Vietnam – Russia Intergovernmental Committee on Economic – Trade and Scientific – Technological Cooperation was co-chaired by Vietnamese Deputy PM Hoang Trung Hai and his Russian counterpart Igor Ivanovic Shuvalov.