Vietnamese enterprises stand firm in Russian market

Monday, 2018-03-19 10:29:28
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Members of the Vietnamese Businesses’ Association in Russia (VBA) and delegates gather for a group photo at a conference to discuss VBA’s operation in 2017, in Moscow, Russia, March 17. (Photo: NDO)
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NDO – Vietnamese enterprises have gradually adapted to the new changes to stand firm in the Russian market, contributing to boosting trade between Vietnam and Russia, as well as building a strong Vietnamese communities in the host country.

The statement was made by Chairman of the Vietnamese Businesses’ Association in Russia (VBA), Le Truong Son, during a conference in Moscow to discuss VBA 2017 operations, on March 17.

Delegates at the event stated that, in the past year, Vietnamese businesses in Russia faced numerous difficulties due to the changes in the Russian economy and politics, requiring them to develop towards specialisation and professionalism in order to adapt to the new situation.

In 2017, VBA directly carried out a range of practical activities, including organising several events to share Vietnamese enterprises’ experiences in operating in Russia and to seek cooperative opportunities for mutual development. It also coordinated with the Vietnamese Embassy in Russia to hold a workshop on promoting trade and investment between Russian’s Sverdlov Oblast and VBA.

Vietnamese businessmen in the host nation also participated in local events, such as the Saint Petersburg International Economic Forum 2017 and a joint forum by both countries’ ministries held during the official visit to Russia by President Tran Dai Quang last June, to learn experience from Russian partners.

At a meeting on Saturday, the VBA members exchanged promising business directions for Vietnamese enterprises in the near future, focusing on services, retail, food, and promoting the market share of Vietnamese goods, especially those exempted from duty within the free trade framework between Vietnam and the Eurasian Economic Union.

They agreed that Vietnamese businesses should strengthen their solidarity and mutual support to overcome difficulties, while promoting creativity and innovation for business growth. VBA expressed its hope for further support from the Vietnamese Embassy to Russia and other associations in the local Vietnamese communities for stronger development in 2018.