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Vietnamese president's visit to boost cooperation with Russia

By  Igor Serebryne, Zheng Haoning (Xinhua)

11:12, July 31, 2012

MOSCOW, July 30 (Xinhua) -- Vietnamese President Truong Tan Sang on Monday wrapped up a five-day visit to Russia, which is set to push forward the two countries' cooperation in various fields.

ENERGY COOPERATION HIGHLIGHTED

In a joint communique issued on Friday, Moscow and Hanoi agreed to create more favorable conditions for joint ventures working in the oil and gas industry in both Vietnam and third countries.

The Vietnamese leader praised the achievements of energy cooperation between the two sides, which he said can serve as a good example for bilateral economic ties.

Established in 1981, the Vietnam-Russia joint venture Vietsovpetro "gave birth to Vietnam's entire oil and gas industry," Sang said after meeting his Russian counterpart, Vladimir Putin, in the Black Sea resort of Sochi.

A joint nuclear plant project is another example of successful energy cooperation, he noted.

Russia has confirmed that it will continue the construction of the Ninh Thuan nuclear power plant in Vietnam on schedule. The project started in December 2011 and is expected to complete in 2020.

Putin said Russia will apply "high and economically effective technologies" in building the plant.

Meanwhile, the Russian president said his country will provide Vietnam with a 10-billion-U.S. dollar loan, 8 billion of which will be used for the nuclear plant construction.

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