Entrepreneurs of Sverdlovsk Region Expand Partnership with Vietnam with State Support

"Leading enterprises of Sverdlovsk Region play a significant role in the development of bilateral cooperation between Sverdlovsk Region and the Socialist Republic of Vietnam. For more than 70 years, excavators and drilling rigs manufactured in the Middle Urals, as well as hydroelectric generators for the needs of hydropower plants, have been supplied to various provinces of Vietnam. Over the past five years, the foreign trade turnover of Sverdlovsk Region with Vietnam has increased 1.4 times, while exports from the region grew by 13%. The results of the visit will strengthen Sverdlovsk Region's position in the dynamically developing market of Southeast Asia," noted Vyacheslav Yarin, Minister of International and Foreign Economic Relations of Sverdlovsk Region.

To expand existing and build new economic ties during the business mission, Sverdlovsk companies held negotiations at the Ministry of Industry and Trade of the Socialist Republic of Vietnam, as well as with key state corporations and industry associations of the Republic, such as the Vietnam Automation Association and the Vietnam Steel Association. Additionally, the delegation visited a number of specialized industrial enterprises in Vietnam to study production capacities and logistics chains.

Enterprises of Sverdlovsk Region presented to their Vietnamese colleagues products and modern technological solutions that are in demand in the metallurgical complex, oil and gas, energy, transport, and construction industries of the country. Special emphasis was placed on the supply of high-tech equipment, components, and engineering services.

The key event of the trip was the business forum "Sverdlovsk Region (Russian Federation) — Socialist Republic of Vietnam: Modern Trends in Industrial Cooperation." Within the framework of the forum, B2B meetings took place, along with discussions of joint projects and prospects for production localization.

The business mission was organized by the Ministry of International and Foreign Economic Relations of Sverdlovsk Region. The visit operator is the Regional Investment Promotion Agency.