(VOVWORLD) -Vietnam and Russia have great potential for economic and trade cooperation, Vladimir Ilichev, Russia’s Deputy Minister of Economic Development said prior to Prime Minister Mikhail Mishustin’s two-day Vietnam visit, starting on Tuesday.
 The Central Technology Platform No. 3 of Bach Ho oil rig belonging to the Oil and Gas Exploitation Enterprise, a member unit of the Vietnam-Russia Joint Stock Company Vietsovpetro, was put into operation in 2003. Photo: Huy Hung /VNA
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Ilichev, who is also Vice Chairman of the Russian Subcommittee of the Intergovernmental Committee on Economic, Trade, Scientific and Technical Cooperation, said that by the end of 2023, bilateral trade grew significantly at a rate of 8.3% compared to 2022.
In the first 10 months of last year, the growth momentum continued with an increase of 24% compared to the same period last year. Both exports and imports from Vietnam were on the rise. Trade and services between the two countries recovered impressively.
The number of tourists from Russia to Vietnam jumped by 85% at the end of last year. Since Russia applied the electronic visa mechanism in 2023, the number of tourists from Vietnam to Russia has increased steadily.
Deputy Minister Ilichev said many large projects are underway in both Vietnam and Russia. In Vietnam, the project to build a Nuclear Science Center is being implemented as planned. TH True Milk is building factories in three major regions of Russia (Moscow, Kaluga, and Primorsky).
Russian companies are ready to support Vietnam in developing green energy and green transportation, including projects in nuclear, wind and hydropower energy as well as in digitalization, he said.