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Vietnam Plans to Invest in Woodworking Industry of Kuban

Prospects for cooperation between the Krasnodar Region and the Republic of Vietnam were discussed by the Governor Veniamin Kondratyev and the Ambassador Extraordinary and Plenipotentiary of Vietnam to Russia Dyk Man Ngo.

The Head of the Region noted that the trade turnover between Kuban and Vietnam amounted to 185 million USD last year. And since the beginning of this year, it has already archived more than 90 million USD. Grain and oil products are main components of the region’s exports.

– This is not a limit in today’s economic conditions. We can increase our cooperation in processing sector and industry. The creation of joint ventures in these industries is a subject of special attention, – Veniamin Kondratyev said.

In turn, the Ambassador emphasized that strengthening cooperation between regions of Russia and Vietnam is a main purpose of the delegation visit.

– We see how the Krasnodar Region is rapidly developing, and investors from various provinces of Vietnam are interested in it, – Dyk Man Ngo added.

In particular, Vietnamese business considers a possibility to invest in woodworking industry. This direction in Kuban is represented by large-scale production in the Absheronsk District and about 150 enterprises of small and medium-sized enterprises. According to Veniamin Kondratyev, establishing production facilities with the participation of foreign capital will allow the industry to reach a new level.

– Today, we are interested in the development of industry, including a woodworking sector. It is economically unprofitable simply exporting the wood. That is why we are ready to consider the prospects for creating joint production in the Krasnodar Region, – Veniamin Kondratyev emphasized.

The Governor also noted that the experience of Vietnam is important in the development of the textile industry and tourism in Kuban. In addition, the parties discussed the possibility of simplifying procedures for exporting wheat from the Krasnodar Region to the Republic of Vietnam.

The Press Service of the Administration of the Krasnodar Region