Sunday, November 17, 2013

Russia to sell Vietnam more military hardware

Russian President Vladimir Putin has said his country is going to increase the assortment of military hardware it sells to the Vietnamese army.

The announcement comes on the heels of Putin’s one-day trip to Hanoi where he met with President Truong Tan Sang and other leaders.

The Russian president has said the two nations today signed a new military deal that will see Russia train Vietnamese navy and armed forces.

Russian firms Rosneft and Gazprom also signed a raft of deals with state energy firm Petrovietnam tackling oil exploration and modernization of Vietnam’s oil refinery.

Putin said Gazprom was to supply the Dung Quat refinery with oil and help it market the produce.

Moscow has also promised to help Hanoi develop its nascent energy industry, building a nuclear energy plant and training its atomic experts. Russia will take part in creating the country’s first Center of Nuclear Science and Technology.

The countries concluded a package of cooperation contracts in ecology, healthcare and industry, including textile manufacturing.

In the meanwhile, the International Investment Bank and the Vietnamese Investment bank have agreed a $50 million loan to Vietnam to boost its small business.

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