The RoK was trailed by Japan with US$1.27 billion in FDI, Hong Kong at US$1.19 billion and Singapore at US$972.8 million.

 On the occasion of the recent 17th meeting of the Vietnam – Russia Intergovernmental Committee on economic – trade and scientific – technological cooperation in Vladivostok, Vietnam Consul General Tran Duy Thi granted an exclusive interview to a Radio Voice of Vietnam (VOV) reporter on the cooperation potential between the two nations.

Following are key excerpts from the interview.

Reporter: What do you think about prospects for cooperation between the Russian Far East and Vietnam?

Mr Thi: From my perspective, the Primorie region and the Russian Far East alike have great potential for expanded cooperation. For example, in agricultural development, the soil of large provinces of Primorie, Amur and Khabarovsk is suitable for planting corn, potatoes and soya beans.

Additionally, the region is rich in mineral resources. Wolfram and tin have comprised over 98% of Russia’s mineral reserves while there is also a wealth of diamond and gold deposits in the region.

In recent years, the Far East, Primorie region, Vladivostok city have been seen as an economic leverage for boosting the national economy and advancing cooperation between Russia and the Far East, the Asia-Pacific region including Vietnam.

Through the 17th meeting of the Vietnam-Russia Intergovernmental Committee, Russia has wanted to attract and strengthen cooperation with Vietnam and has extended offers to cooperate on a large number of projects.

Reporter: You said the region is thinly populated, so the consumer market there is not huge. In your opinion, what are the advantages and strengths of the region for future cooperation?

Mr Thi: This is an issue of mutual concern with Russian leaders, which needs further exploration in the upcoming talks. The Far East region is large but the population remains limited with a density of only one person per square metre.

After the APEC in 2012, Russia had reconsidered developing this region with priorities given to production for export, mostly to the Asia-Pacific region. Therefore, Russia has always focused on strengthening trade and economic links with Vietnam. Russia expressed hope that the two nations will cooperate effectively in the direction.

Reporter: What is about the prospects for the supply of human resources for the Far East region such as sending some of our abundant labour resource?

Mr Thi: At present, leaders of the region want us to send our guest workers to develop agriculture. However, due to some unique characteristics applicable to the region, it is necessary to conduct an appropriate detailed study before making any commitment.

The region’s policy is to encourage the import of guest workers, especially highly skilled workers to contribute to its development. Therefore, Vietnam should pay particular attention to enhance cooperation with the area. The second direction is to improve the region’s living standards to attract more labourers.

The population in the region has been decreasing over recent years. However, since late 2013 and early 2014, both the mortality and birth rates have slowed. The Russian Government has adopted incentive policies to grant houses and land to  families with a large number of children in the area as part of a strategy to increase the population.

Reporter: There are a large number of Vietnamese nationals working and living in the Far East. What is your assessment of the Overseas Vietnamese community’s contributions to Russia and the socio-economic development of the region?

Mr Thi: Local authorities have highlighted the Overseas Vietnamese community’s great contributions to the region. In the context of the embargo imposed on Russia, Overseas Vietnamese are bringing essential goods to the markets of the region, which is making a vitally important and valuable contributions.