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Russia sees decline in foreign direct investment in Vietnam in December

In December 2024, Russia registered 2 new projects with US$3.82 million in newly registered capital, according to Vietnam’s Ministry of Planning and Investment. This represents a 50 percent decrease in the number of new projects compared to November, which recorded 4 new projects and US$4.22 million in newly registered capital.

In 2024, Russian firms invested in 17 new projects in Vietnam with US$18.18 million in newly registered capital.

Foreign direct investment (FDI) from Russia into Vietnam reflects the strong historical and strategic partnership between the two countries. Russian investments are primarily concentrated in energy, oil and gas exploration, infrastructure, and defence-related industries. Notable projects include joint ventures such as Vietsovpetro, a key collaboration in offshore oil and gas production, which has been a cornerstone of economic cooperation between the two nations.

In recent years, Russia has also explored opportunities in renewable energy, mining, and high-tech industries in Vietnam, aligning with Vietnam’s focus on sustainable development and industrial modernisation. The two countries maintain strong trade and investment ties under their Comprehensive Strategic Partnership, supported by agreements that facilitate economic collaboration. As Vietnam continues to expand its energy infrastructure and industrial base, Russian FDI is expected to remain a significant contributor, particularly in sectors that leverage Russia’s expertise in energy and heavy industries.

See also: How to Start a Business in Vietnam

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