"It was the Russian experts from [Russian oil company] 'Zarubezhneft' who laid the ground for oil production in Vietnam… [Joint venture] Vietsovpetro is the biggest oil producer in Vietnam that contributes significantly to the budget of the republic. The Vietnamese leadership also highly appreciates the activities of the joint venture Rusvietpetro. We welcome other Russian oil and gas companies to work in Vietnam, and the republic will give any assistance [necessary] to any Russian companies wishing to work in Vietnam," Nguyen Tan Dung told Sputnik Japan.
Vietsovpetro was the first joint Russian-Vietnamese oil enterprise to operate in Vietnam. Rusvietpetro, Vietgazprom and Gazpromviet are three new oil and gas joint ventures that operate both in Vietnam and Russia.
Bilateral relations between the two countries have been on the rise recently, which was manifest during the recent visit of leader of the Communist Party Nguyen Phu Trong to Russia, when nine agreements on stronger economic and trade cooperation were signed.