A Memorandum of Understanding (MoU) was signed in Hanoi on November 20 between the Vietnamese Ministry of Industry and Trade and its Russian counterpart on cooperation in scientific research, industrial development, and innovation in the industrial sector.

The MoU is signed at the opening ceremony of the Vietnam-Russia Scientific Forum on Industrial, Technological, and Innovation Promotion.

The signing took place at the opening ceremony of the Vietnam-Russia Scientific Forum on Industrial, Technological, and Innovation Promotion.

Speaking at the event, Deputy Minister of Industry and Trade Truong Thanh Hoai affirmed that Russia is not only a traditional and reliable partner but also a great friend who has accompanied Vietnam throughout the process of nation-building and national defence.

Entering a new era - the era of national rise, Vietnam identifies industrialisation and modernisation as central tasks, with science, technology, and innovation considered top national priorities, he said.

Under the development orientation toward 2030, Vietnam aims for industry to contribute over 40% of GDP, with manufacturing and processing accounting for around 30%.

According to Hoai, Vietnam is focusing on shifting its growth model toward depth, prioritizing the development of energy industries, materials industries, mechanical engineering, and the digital technology sector.

To realise these ambitious goals, in addition to domestic capacity, Vietnam places great value on international cooperation, especially with Russia - a nation boasting a strong foundation in basic sciences and leading core technologies.

Addressing the forum, Russian Deputy Minister of Industry and Trade Aleksey Gruzdev emphasised that the forum has become a driving force and an important step forward in deepening bilateral relations, fostering trade promotion activities, and expanding cooperation in industry and high technology between the two countries.

In the coming period, the Russian Government will invest in supporting the development of industries such as truck manufacturing and sectors with strong growth potential like high-tech production.

Russia is also targeting a 40% share of non-energy exports. By 2030, the country aims to achieve up to 90% industrial self-sufficiency and become a global leader in high-tech industries.

Gruzdev also noted that Russia and Vietnam still possess significant potential for joint development. With their strong and longstanding relationship, he expressed confidence that the two nations will achieve many accomplishments in the coming time.

Hoai praised the initiative of organising the forum. With the participation of numerous administrators, experts, scientists, and especially major enterprises such as Rosatom, Rusal, AlPharma, along with leading Vietnamese corporations, he expressed his belief that the forum will not be limited to theoretical discussions but will open up substantive and in-depth cooperation opportunities in the future.

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