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30 Sep 2019

Belarus, Vietnam discuss ways to step up investment cooperation

Belarus, Vietnam discuss ways to step up investment cooperation
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MINSK, 30 September (BelTA) – Belarus and Vietnam have confirmed mutual intent to enhance cooperation in all possible areas and agreed upon ways to further expand investment presence, including setting up and developing joint ventures in the two countries. These matters were discussed as a Belarusian government delegation led by Deputy Prime Minister Igor Lyashenko visited Vietnam, BelTA learned from the press service of the Belarusian government.

Igor Lyashenko met with Vietnam Prime Minister Nguyen Xuan Phuc, Deputy Prime Minister Vuong Dinh Hue, leaders of the Central Committee of the Communist Party of Vietnam, deputy chairman of the Hanoi People's Committee, and representatives of the Academy of Science and Technology of Vietnam. The parties discussed a broad range of important matters of bilateral cooperation, focusing on ways to boost trade and economic cooperation. Igor Lyashenko noted that Belarus is ready to increase supplies of automobiles ans mining machines to Vietnam and proposed to consider establishing a joint venture to assemble the latest models of urban public transport in Hanoi.

The Belarusian delegation took part in the solemn opening ceremony of an assembly plant of vehicles of the Belarusian automobile engineering company MAZ in Hung Yen Province. The commissioning of the assembly plant is the beginning of a long way for Belarusian equipment to come onto the large market of Southeast Asia, Igor Lyashenko said at the ceremony. “This is why we have set ambitious goals to ensure an uninterrupted operation of the enterprise, expand and develop the plant. We plan to launch production of new truck models and special transport, and to ensure a full share of local content in MAZ products in Vietnam. At the same time, we view Vietnam as the most promising platform and as a gate to markets of the Association of Southeast Asian Nations member states,” he added.

Igor Lyashenko noted that the plant was designed with the use of the latest engineering solutions and innovative approaches. The production capacity of the plant is 3,000 trucks a year. It already employs around 30 people, and the number of employees will increase significantly when the plant reaches its full capacity. The project to build the plant attracted a total of around $10 million in investment.

During the visit to Vietnam, the Belarusian delegation signed a program of cooperation in culture for 2020-2021 between the Belarusian Culture Ministry and Vietnam’s Ministry of Culture, Sports and Tourism, and a memorandum of cooperation between the Belarusian Oil Trading House and the Vietnam Rubber Group (VRG) company to supply natural rubber for the Belarusian tire-maker Belshina. The delegation also concluded contracts, including a contract to supply knock-down kits of MAZ trucks to Vietnam.

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