Special Representative of the Russian President spoke about Vietnam's investments in small businesses in Russia

Most of Vietnam's investments in Russia are in small businesses, such as restaurants. Boris Titov, special representative of the Russian president for relations with international organizations to achieve sustainable development goals, told Izvestia on January 15.

"In fact, the bulk of investments, for example, of Vietnam in Russia, is small business. <...> A huge number of small businesses invest in cafes and restaurants, a huge number bring their fruit, a huge flow of fruit, mangoes, bananas are coming from Vietnam," Titov noted.

He pointed out that Vietnamese pho bo soup has become extremely popular in the Russian Federation, which has become a calling card of this country in Russia. In addition, entrepreneurs from the Russian Federation, in turn, supply a large number of domestic goods to the republic, and exports are growing. Russia, for example, supplies honey, flour, sunflower oil to Vietnam, and they are popular both in the Southeast Asian country and throughout this region.

Small business, as Titov emphasized, makes up a very large part of economic relations between Moscow and Hanoi, and it should be developed, creating conditions for expanding cooperation in this area. It is important that Vietnam has passed on to Russia its proposals to help small businesses.

The special representative of the Russian President said that, nevertheless, the two countries are also implementing very large joint projects, for example, in the supply of liquefied natural gas (LNG), railroad logistics or programs of the Russian state corporation Rosatom.

On the eve of January 14, Russian Prime Minister Mikhail Mishustin said that Moscow and Hanoi will approve a comprehensive cooperation plan until 2030. The head of the government added that mutual trade turnover between the two states in 2024 increased by 24%. This was influenced, among other things, by the free trade agreement between the Eurasian Economic Union (EAEU) and Vietnam.

Before that, on January 13, a Russian delegation led by Mishustin flew to Vietnam on an official visit. Following the talks, representatives of Moscow and Hanoi will sign several joint documents.