Nov 29, 2013

Russia and Vietnam Facilitate Cooperation

OJSC “RPC “URALVAGONZAVOD” intends to participate in joint construction of a plant for rolling stock assembly in Vietnam.

A Memorandum of Cooperation between Vietnam-Russia Joint Venture Bank and OJSC “Research and Production Corporation “URALVAGONZAVOD” was signed in the presence of the President of the Russian Federation Vladimir Putin and the President of the Socialist Republic of Vietnam Tr??ng T?n Sang on November 12, 2013 in Hanoi, Vietnam. The key point of the Memorandum is facilitating implementation of joint investment projects of UVZ within the territory of Vietnam and bank servicing of these projects by the Vietnam-Russia Joint Venture Bank.

On behalf of the UVZ Corporation the Memorandum has been signed by CEO Mr. Oleg Sienko and on behalf of Vietnam-Russia Joint Venture Bank – CEO Mr. Doan Minh Tien.

According to CEO of UVZ Corporation Oleg Sienko, UVZ will participate in construction of a plant for rolling stock assembly in Vietnam. The head of the Corporation also noted that the signed Memorandum will have positive impact on developing mutual cooperation and increase our presence in Vietnamese market.

For information

OJSC «Research and Production Corporation «URALVAGONZAVOD» (UVZ)is a Russian corporation that integrates over 30 industrial enterprises, R&D establishments and design engineering bureaus in Russia and Europe. It develops and manufactures military equipment, road-building machinery and railway vehicles.

Vietnam-Russia Joint Venture Bank is a Vietnamese joint bank, established by the Russian VTB bank and Bank for Investment and Development of Vietnam. The main areas of the bank’s activity is project financing, international trading operations financing, loan services for Russian companies in Vietnam and international settlements.