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Russia-Vietnam fund plans to invest $500 mln into non-resource projects

June 29, 16:54 UTC+3

Russia and Vietnam stand for the quickest adoption of a code of conduct in the South China Sea,

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MOSCOW, June 29. /TASS/. The Russia-Vietnam investment fund plans to invest $500 mln into non-resource projects, in pharmaceuticals and agriculture in the first instance, Russian President Vladimir Putin said on Thursday at a press conference after talks with the President of Vietnam Tran Dai Quang.

"Over 20 major joint investment programs (between Russia and Vietnam) were agreed in the amount of about $10 bln," the Russian President said. "I would like to note also that the Russia-Vietnam investment fund plans to bring up to $500 mln into promising non-resource projects, in pharmaceuticals and agriculture in the first instance," Putin said.

 Russia and Vietnam stand for the quickest adoption of a code of conduct in the South China Sea, according to a joint statement made by Vladimir Putin and Tran Dai Quang.

"Russia and Vietnam stand for the full and effective implementation of the 2002 Declaration on the Conduct of Parties in the South China Sea and the quickest adoption of a Code of Conduct of Parties in the South China Sea," the document reads.

Both sides also noted that the border, territorial and other disputes in the Asia-Pacific Region "should be resolved by the involved parties peacefully, without the use of force or the threat of the use of force, pursuant to international law, including the 1982 UN Convention on the Law of the Sea, for the purpose of ensuring peace, stability and security in the region," according to the document.

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