ASEAN-Russia Business Forum is an activity on the sidelines of the 20th Anniversary of ASEAN - Russia Dialogue Partnership. His Excellency Prime Minister of Vietnam Nguyen Xuan Phuc also took part in the dialogue on the occasion of this official visit to Russian Federation. In addition, reputed financial institutions of ASEAN countries as well as Vietnam corporations & enterprises, such as: Electricity of Vietnam Group, Vietnam National Coal - Mineral Industries Holding Corporation Limited, Vietnam National Textile and Garment Group, PetroVietnam Exploration Production Corporation, PetroVietnam Oil Corporation, PetroVietnam Technical Services Corporation, State Capital Investment Corporation (SCIC), TH Milk Food JSC… also joined in the forum.
As a panelist, VDB’s General Director also delivered a speech about the great potential for cooperation between ASEAN enterprises in general and Vietnam in particular with Russian enterprises. It is stated that: ASEAN is a dynamic economic region with fast economic growth. ASEAN is also a huge potential market (with the population over 600 million) and a land with abundant mineral resources. On 31st Dec 2015, the ASEAN Economic Community (AEC) was officially established with the Declaration from the leaders of ten ASEAN countries with strong commitment to build up ASEAN Common Market and unified production base, to form ASEAN into a region with high competitiveness, evenly developed and fully integrated into the global economy. Thus, ASEAN countries require many investment sources from outside to reach its sustainable development purpose. Russian Federation with its strengths in energy technology, machinery engineering, aerospace, mining, military ... has always been traditional and potential partner that ASEAN regional governments look for their national strategic projects.
To promote global economic integration, the Government of Vietnam always creates favorable conditions for foreign investors to do business in Vietnam. Vietnamese Government has special interest to call for foreign investment for infrastructure projects (especially roads, railways, airports, seaports), energy projects (especially clean energy, renewable energy) ... with large total investment. This is also an opportunity for Russian partners to join and develop their business in Vietnam.
As a national DFI and a policy implementation tool of the Government, VDB is honored to be entrusted by Vietnamese Government to manage the on-lending of the nuclear power plants in Ninh Thuan province, co-funded by the Governments of the Russian Federation and Vietnam. VDB looks forward to receiving the cooperation of Russian financial institutions and companies.
Mr. Tran Ba Huan also suggested some potential cooperation forms in speech, namely:
• Firstly, co-finance projects (By that way, machinery and technology imported from Russia will be funded by Russian partners; on the other hand, VDB provides fund for civil works in Vietnam). Commercial banks can join by providing working capital for the project.
• Secondly, VDB could act as an agent of collateral management or be entrusted for disbursement and debt collection.
• Thirdly, VDB could acts as entrusted agent of the Government to manage on-lending loan under the Government Agreement.
• Last but not least, VDB could provide consulting services for projects with Russian investors in Vietnam.
On the sidelines of ASEAN-Russia Business Forum, VDB’s delegation also had several bilateral meetings with financial institutions from Asean countries and Russia to discuss potential cooperation opportunities, aiming to strengthen traditional relationship as well as economic growth of the two countries./.