ST. PETERSBURG, June 18. /TASS/. The Russian Direct Investment Fund (RDIF) is expanding cooperation with Vietnam's leading private multi-industry group of companies T&T Group, the RDIF press service announced on the sidelines of the St. Petersburg International Economic Forum (SPIEF).

"Our countries have significant potential for multiple growth in mutual trade volumes, and many Russian and Vietnamese companies are seeking to enter the markets of the two countries. RDIF is focused on investing in innovative projects in the pharmaceutical and healthcare sectors, and the agreement we are announcing today will contribute to the development of technological innovations in this area in both Russia and Vietnam," said RDIF CEO Kirill Dmitriev.

In July 2024, RDIF and T&T Group signed a strategic partnership agreement aimed at mutual investments in projects that promote the development of trade and economic cooperation between Russia and Vietnam, the expansion of businesses of companies in both countries and the creation of new export opportunities.

At the forum, RDIF also announced a partnership with Vietnamese pharmaceutical company Vietnam Pharmaceutical Co. (EOC) and Russian company Good Distribution Partners LLC (GDP).

According to the RDIF press service, the main goal of the cooperation agreement between EOC and GDP is to create a center for promoting Russian and Vietnamese companies to the markets of the two countries in the pharmaceutical sector, supply of innovative drugs and medical equipment. In addition, the agreement is aimed at supporting the export of molecular structures and technology transfer in the pharmaceutical industry, as well as bringing Russian and Vietnamese companies with relevant products to the markets of the two countries.

The St. Petersburg International Economic Forum (SPIEF) is under way on June 18-21. This year, the forum’s main theme is "Shared Values: The Foundation of Growth in a Multipolar World." The Roscongress Foundation is the organizer of the St. Petersburg International Economic Forum. TASS is its information partner.