Binh Thuan –Kaluga (Russia) investment promotion seminar slated for mid-November

A leadership delegation of Binh Thuan province in a business visit to Kaluga

 in April, 2019

Chance to boost investment and cooperation between the two localities came after the Embassy of Vietnam in Russian Federation sent a document to leaders of the provincial People’s Committee of Binh Thuan province mentioning Kaluga’s intention to set up economic ties with Binh Thuan. In April, 2019, permanent Vice Secretary of the provincial Party Committee Huynh Thanh Canh, accompanied by leaders of departments and agencies, paid a business trip to Kaluga to make surveys on investment opportunities. On an official visit to Russian of Prime Minister Nguyen Xuan Phuc in May, 2019, the two localities signed an agreement to strengthen cooperation on a series of sectors, as follows: economic development, trade, culture, education, health, hi-tech, science, environmental protection …

With specific advantages and potential of each locality, bilateral cooperation is expected bring practical effectiveness. Binh Thuan is well-known with the brand-name “the true paradise for Russian visitors to escape from the winter”. Binh Thuan has 192 km of coast with beautiful beaches, natural landscapes, many historical-cultural relics, cultural and tourism festivals, and especially attractive culinary arts.  The number of Russian tourists to Binh Thuan in 2018 accounted for 25% of the total international visitors, with over 600,000 turns. In addition, Binh Thuan’s dragon fruits and seafood are considered as special products which have significantly contributed to the whole province’s export revenues.

Kaluga is a city located in the central part of Russia. The economic structure of Kaluga focuses on industries as automotive, machinery production, food and light industry, construction materials and others. Trade revenue between Kaluga and Vietnam’s localities has enjoyed considerable growths in 2018. The authorities of Kaluga always offers maximum incentives and supports to investment projects, especially those located in the Kaluga special economic zone in Borovsk district.

According to the provincial department of Planning and Investment, Binh Thuan-Kaluga investment promotion seminar is scheduled for mid-November. In this event, two localities will introduce all potentials, advantages, specific products and the orientations for bilateral cooperation in the future.

Binh Thuan Dragon fruit and seafood associations will highlight the chances to export dragon fruit products and marine products to Russian markets through Kaluga. In the meantime, Vinh Tan International Port JSC will introduce the potentials of import-export activities between the two localities via Vinh Tan port. Especially, tourism sector and representatives of local tourism companies will have chances to promote cooperation with Kaluga city, and Phan Thiet Airport is considered as one of important factors which are expected to contribute to boosting cooperation between Binh Thuan and Kaluga.

Translated by Phuong Lan (Source: Binh Thuan Newspaper)