Hà Nội opens doors to Russian investors amid strengthening economic cooperation

Hà Nội opens doors to Russian investors amid strengthening economic cooperation

Marking an important milestone in Việt Nam–Russia relations, both sides are seizing the moment to look toward the future with a renewed focus on strengthening economic, trade and investment cooperation, particularly between Hà Nội and Moscow.

Delegates at the forum on Monday morning in Hà Nội. — Photos courtesy of the organiser

As Việt Nam and Moscow mark the 75th anniversary of diplomatic relations, the Hà Nội–Moscow Business Forum brought together senior leaders and a large community of enterprises from both capitals, reaffirming a shared commitment to traditional friendship, substantive cooperation and sustainable development.

The forum, held on December 1, served as a catalyst for deepening trade and investment links and opening new avenues for economic cooperation.

Speaking at the event, vice chairman of the Hà Nội People's Committee, Nguyễn Mạnh Quyền, emphasised the city’s readiness to facilitate Russian investment across priority sectors.

"Hà Nội always values and stands ready to create the most favourable conditions for Russian enterprises to invest and conduct business," he said, highlighting the capital's position as a national political and economic hub with synchronised infrastructure, a young workforce and a stable and transparent investment environment.

Trade turnover between Việt Nam and Russia reached US$4.59 billion in 2024, up 26 per cent year-on-year. Hà Nội alone has attracted $167.5 million in FDI from Russia, concentrated in manufacturing, information technology, hospitality, retail and construction.

According to city leaders, ample potential remains to scale up cooperation, particularly in high-technology fields such as smart electronics, precision engineering, automation, biotechnology, IT, cybersecurity, digital data and artificial intelligence, areas where Russian firms already possess strong capabilities.

The city also called for deeper connectivity in trade, tourism and logistics, including restoring and expanding direct air routes, simplifying import–export and travel procedures, and promoting joint trade and tourism programmes.

Hà Nội encouraged green, environmentally friendly investment projects with commitments to technology transfer, human-resource training and linkages with local enterprises, aligned with its long-term development strategy.

Delegates at the forum on Monday morning in Hà Nội. — Photos courtesy of the organiser

From the Moscow side, Minister of the Moscow Government and head of the Department for External Economic and International Relations, Sergey Cheremin, said that Hà Nội is seen as one of Russia's most dynamic and effective inter-regional partners.

He noted that Moscow remains Russia's leading investment centre with $250 billion in foreign capital and has maintained its top national ranking for investment climate for seven consecutive years.

The city boasts advanced transport and logistics infrastructure and strong technological capabilities across aerospace, IT, healthcare and digital urban governance.

Last year, trade grew nearly 30 per cent to $2.5 billion, reflecting the robust momentum of bilateral economic cooperation.

To support further investment, Hà Nội pledged coordinated action from its Department of Finance, Department of Planning and Investment and the Hanoi Support Centre for Enterprise and Investment Promotion (SCE) to maintain financial transparency, assist enterprises in accessing incentives and facilitate project implementation through targeted promotion programmes.

"Hà Nội commits to act with the highest political determination," Quyền said, reaffirming that the city will accompany Russian investors throughout their business journey.

Representing the Embassy of the Russian Federation in Việt Nam, Minister-Counsellor Ivan Nesterov reiterated that Việt Nam remains a priority partner in Russia's Asia–Pacific policy.

He said that despite global geopolitical fluctuations, bilateral cooperation continues to grow thanks to high political trust and economic adaptability.

He highlighted that two-way trade increased more than 20 per cent over the past year and pointed to new opportunities emerging as both countries expand local-currency settlements and develop new logistics routes.

Nesterov said Russia is ready to advance large-scale projects in Việt Nam, including cooperation in energy, civil nuclear technology, science and technology, and industrial production, such as GAZ-brand vehicles.

He described Hà Nội as a dynamic economic centre with substantial potential to become a priority destination for Russian enterprises expanding into Southeast Asia. 

Bizhub