In an interview with a Vietnam News Agency correspondent in Russia ahead of the official visit of Prime Minister Pham Minh Chinh to Russia from March 22–25, Dr. Vardomsky pointed out that the multilateral foreign economic policy pursued by Vietnam is well suited to the natural conditions of a country with a large population, rapid growth, a long coastline, and a geographical location near fast-developing economies.

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Dr. of Economics Leonid Borisovich Vardomsky from the Institute of Economics under the Russian Academy of Sciences

Within this approach, Vietnam has established itself as an attractive destination for foreign investment and is modernizing its economy dynamically. The country is widely participating in global value chains and in major projects with leading international companies.

These factors demonstrate Vietnam’s reliability as a partner while also generating significant revenue for the nation, he asserted.

From a research perspective, the Russian expert emphasized that despite the still modest scale of cooperation, both countries are interested in elevating economic relations to match their high level of political trust.

He noted that the focus of the visit will be on energy and other supplies in the context of a volatile global situation. He hoped that the visit would yield positive results, stressing that both sides are facing a comprehensive, long-term cooperation program.

The development and implementation of this program will require considerable efforts to clearly understand the current and future interests of both countries, as well as the potential to translate these into effective bilateral cooperation, he stated.

Source: VNA