Vietnam seeks to deepen financial cooperation with Russia

Vietnam seeks to deepen financial cooperation with Russia

During Party General Secretary and State President To Lam’s state visit to Russia, Vietnamese Minister of Finance Ngo Van Tuan held talks with Russian Minister of Finance Anton Germanovich Siluanov in Moscow on September 8 to promote comprehensive financial cooperation between the two countries.

Photo: Ngoc Tram

At the meeting, Minister Tuan briefed his Russian counterpart on Vietnam’s economic development and strategic vision.

He said that Vietnam’s economy maintained positive growth momentum and macroeconomic stability during the first eight months of 2026. Foreign direct investment remained a bright spot, particularly in high-tech sectors, with total registered capital estimated at $40.63 billion and disbursed capital reaching $17.25 billion.

The country’s total trade turnover reached $770.14 billion in the eight-month period, including $374.84 billion in exports and $395.3 billion in imports.

Regarding bilateral relations, the two ministers noted positive developments in trade and investment cooperation. Bilateral trade reached $3.24 billion in the first seven months of 2026, up 12 per cent on year. Vietnam exported $1.33 billion worth of goods to Russia and imported $1.91 billion.

As of August 31, Russia had 244 projects in Vietnam with total registered capital of $996.81 million. Meanwhile, Vietnam had 19 valid projects in Russia with total capital of $1.64 billion, notably the Rusvietpetro joint venture and TH Group’s agricultural and dairy farming project.

Regarding cooperation in the financial sector, Minister Tuan proposed that the two ministries continue to strengthen traditional areas of cooperation, including taxation, customs and investment, while expanding coordination and experience-sharing in emerging areas such as financial market development, green finance, digital finance, innovation and private-sector development.

In particular, the two sides should step up efforts to identify effective payment solutions to facilitate stronger investment activities by businesses from both countries in the coming period.

Photo: Ngoc Tram

Minister Siluanov agreed with the cooperation priorities proposed by Minister Tuan. The Russian Ministry of Finance highly values Vietnam’s impressive economic development achievements and stands ready to work closely with its Vietnamese counterpart to address complexities arising in bilateral cooperation.

He said that strengthening experience-sharing in new areas of finance and developing appropriate payment mechanisms were top priorities for boosting investment flows and trade between the two countries.

In an open and trust-based atmosphere, the two ministers reviewed ongoing financial cooperation projects, frankly discussed existing obstacles and declared their commitment to closer coordination to advance key cooperation projects of mutual interest in the coming period.

VIR