During his official visit to the Russian Federation, National Assembly Chairman Tran Thanh Man met with representatives of the Vietnamese Business Association in Russia on September 9 (local time).

Representatives from the Vietnamese-Russian oil and gas joint venture reported that since its establishment in 2008, the company has extracted 40 million tons of crude oil, generating nearly $1 billion for the country. To expand its operating market share, the company emphasized the need to sign cooperation agreements for new oil and gas blocks. If successful, this could increase crude oil production to 55 million tons. Therefore, they requested that both Russia and Vietnam facilitate the decision-making process for new foreign investment projects in the oil and gas sector, in accordance with the Intergovernmental Agreement between the two countries.

A representative from TH True Milk Corporation shared their successful journey in establishing dairy farms and processing plants in Russia, requesting  support from the Russian side in logistics services to enhance the transportation of goods.

Vietnamese businesses also expressed the need for relaxed regulations on work permits for Vietnamese citizens in Russia to address the labor shortage they face. Currently, the administrative procedures for obtaining work permits are lengthy and complex, and the duration of these permits is limited to just one year. This short timeframe affects the residency status of Vietnamese workers, impacting their children’s right to education, as Russian law requires foreign children to have a permanent residence permit to attend public schools.

Chairman Man commended Vietnamese businesses for investing approximately $3 billion in Russia, while noting that Russia has 200 businesses investing in Vietnam with a total of $1 billion. He highlighted that investment from businesses should increase in line with the strong bilateral relations and urged the business community to continue uniting, comply with the laws of the host country, contribute to the development of both the Russian Federation and Vietnam, and deepen the comprehensive strategic partnership between the two nations.

The NA chairman requested Deputy Prime Minister Tran Hong Ha to present recommendations, based on the businesses’ proposals, to the Russian delegation at the Vietnam-Russia Intergovernmental Commission meeting on September 11-12.