The trip, which takes place shortly after President Putin commenced his new term, demonstrates that Russia treasures ties with Vietnam. 

After the new government was established, Russia has continued to strengthen its autonomous economy and implement its socio-economic development goals. Over the past time, Russia’s economy has recovered from the recession and regained the momentum of growth. In 2023, Russia's economic growth rate reached 3.6%, higher than predicted and surpassing the economic growth rate of many developed countries. The Russian government has taken a number of measures to promptly adapt to embargoes; reorient the market; promote the development of import substitution production; intensify financial sovereignty; and accelerate cooperation with strategic partners, traditional friends, friendly partners; and strengthen relations with the Asia-Pacific region.

Russian President Vladimir Vladimirovich Putin (right) starts a state visit to Vietnam on June 19 at the invitation of General Secretary of the Communist Party of Vietnam Nguyen Phu Trong.

Since the diplomatic ties were established on January 30, 1950, the relationship between Vietnam and Russia (former Soviet Union) has grown stronger in all areas. During the struggle for national independence and the cause of national construction, the Party, State and people of Vietnam always received valuable support of the Soviet Government and people. The support was a significant factor contributing to the success of the cause of national liberation and reunification of Vietnam.

Inheriting the traditional friendship, after the dissolution of the Soviet Union in 1991, the Vietnam-Russia relations have continued to be nurtured by the leaders and people of the two countries. On June 16, 1994, the two countries signed the Treaty on principles of friendly relations between the Socialist Republic of Vietnam and the Russian Federation, laying the foundation and legal basis for their relationship in a new stage of development. In 2012, Vietnam and Russia agreed to upgrade their ties to comprehensive strategic partnership, marking a milestone in the two countries’ bilateral relations.

Since then, the political trust in Vietnam-Russia relations has been continuously reinforced. The two sides have increased the exchange of delegations at all levels, across all channels of the Party, State, Government, as well as promoted people-to-people exchanges, among others. Vietnam defines Russia as one of the leading important partners in Vietnam’s foreign policy. Meanwhile, Russia considers Vietnam a reliable partner and one of the top priorities in its foreign policy in the Asia-Pacific region. The two sides have closely coordinated with each other within the framework of international organizations and multilateral forums with similar views on many international and regional issues.

Over the past time, the cooperation between Vietnam and Russia in the fields of economy, trade and investment has been vibrant and there is still ample room for further development, especially since Vietnam became the first partner to sign a Free Trade Agreement (FTA) with the Eurasian Economic Union (EAEU), of which Russia is a member. As of April 2024, Russia had 186 investment projects in Vietnam with a total registered capital of USD 984.98 million, ranking 28th among 145 countries and territories investing in Vietnam. Meanwhile, Vietnamese businesses have invested in 18 projects in Russia with a total registered capital of 1.63 billion USD, ranking the fourth among 80th countries and territories which Vietnam have invested in.

Defense and security cooperation has been maintained. Oil and gas and energy have continued to be a traditional, strategic and effective field of cooperation. Additionally, the cooperation in such fields as education-training and science-technology has been promoted in an effective manner, while people-to-people exchanges have been constantly strengthened. The Vietnamese community in Russia currently has about 60,000 people, making active contribution to the homeland and the host country, thereby consolidating the traditional friendship between the two countries.

This year, Vietnam and Russia celebrate the 12th anniversary of the establishment of comprehensive strategic partnership, the 30th anniversary of the Treaty on principles of friendly relations, towards the 75th anniversary of the two countries’ diplomatic relations (1950-2025). Therefore, President Putin’s visit makes a significant contribution to further deepening the two countries’ comprehensive strategic partnership, as well as to peace, cooperation and development in the region and the world at large. This event is also an opportunity for Vietnam to affirm its consistent foreign policy in line with the 13th National Party Congress’s policy on independence, autonomy, peace, cooperation and development, diversification and multilateralization of external relations, with priority given to countries with traditional friendship.

Vietnam is always in favor of promoting peace, friendship and cooperation with its partners; resolving disputes by peaceful means; and taking into account the legitimate interests of relevant parties, in accordance with the United Nations chapter and international law.

We hope that the Russian President’s visit to Vietnam will conclude successfully, adding extra impetus to further boosting the comprehensive strategic partnership and cultivating the long-standing traditional friendship between the two countries and peoples.

Translated by Quynh Oanh