Vietnam attracts foreign investors thanks to its stability: Russian official
The high level of stability has helped Vietnam attract foreign investors, according to Chief Representative of the Russian Trade Office in the Southeast Asian nation Viacheslav Kharinov.
Russian and Vietnamese experts at the oil receiving and exporting control room on the Vietsovpetro – 01 vessel. (Photo: VNA)
Moscow (VNA) - The high level of stability has helped Vietnam attract foreign investors, according to Chief Representative of the Russian Trade Office in the Southeast Asian nation Viacheslav Kharinov.
In an interview with the newspaper “Pravda” (Truth) of the Russian Federation Communist Party published on September 4, Kharinov said Vietnam is a socialist state with stringent law and without major violation going unpunished.
The banking system also operates under state control, he said, noting that the country now has macroeconomic and microeconomic institutions, and many experienced experts who underwent training in the former Soviet Union.
According to Kharinov, with a population of nearly 100 million, Vietnam has become a manufacturing hub for Asia and companies from the US as well. He took the example of Apple that has set up a plant in the country. The official likened the presence of major brands in Vietnam to that of the whole world.
Regarding the Vietnamese workforce, mainly untrained, the official said big groups view this as an advantage as they can offer training at their factories.
He lauded the reward system in Vietnam and suggested companies operating in the country align with the existing systems, frameworks, and order there.
Corporate owners would be foreigners, but directors are often Vietnamese to develop an effectiv🌸e reward system, thus promoting labourers' performance, he said./.
The southern province of Dong Nai attracted nearly 1 billion USD worth of foreign investment as of August 20, up 34% year-on-year, according to the provincial Department of Planning and Investment.
Foreign investors injected more than 2.87 billion USD into the Vietnamese realty market during January-July, a year-on-year surge of 78%, according to the Ministry of Planning and Investment (MPI)’s Foreign Investment Agency.
The disbursement of public investment funded by foreign sources in localities is relatively low at present, requiring solutions to difficulties facing each project, an official of the Ministry of Finance (MoF) said on May 21.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
