Rostec is Developing Cooperation With Vietnam

Rostec is Developing Cooperation With Vietnam

Rostec CEO Sergey Chemezov held a meeting with representatives of the Government of the Socialist Republic of Vietnam. The parties emphasized a high level of the bilateral relations and have agreed to develop joint projects in aviation, engine building and other industries.

Vietnam is one of strategic partners of Russia in Southeast Asia. Rostec and Vietnamese companies have been cooperating in the chemical and auto industries, engine building, supplies of civilian helicopters and their further maintenance. The Corporation is going to continue expanding the technological partnership with Vietnam. 

“Vietnam is not only a country with a significant history of mutual relations for us – this is a partner with huge prospects for future cooperation. The current high level of the technological partnership between Russia and Vietnam creates the basis for much more intensive collaboration and joint development in new industries: from supplies of advanced helicopters to implementation of large-scale infrastructure projects,” stressed Rostec CEO Sergey Chemezov.

The holding companies of the Corporation are interested in development of the partnership with Vietnam in various areas. Thus, Nacimbio is ready to supply medicines to the Republic, and Tyazhpromexport can participate in the development of the country's industrial sector. The holding company has appropriate competences to construct, upgrade and expand the existing metallurgical enterprises.

The Shvabe Holding of the Rostec State Corporation possesses unique technologies for development and manufacture of optical materials, high-energy lasers, as well as for processing large astronomical optics. The holding is ready to supply optical glass of various brands, biological protection windows, meteorological devices, microscopes, high‑precision medical and geodesic equipment, lighting equipment and to offer optical parts processing services to Vietnamese partners. In cooperation with RITE, Rostec has offered solutions within the Smart City project to the Vietnamese party.

Diversification of the product portfolio and entry into new fast-growing segments are keys to achievement of the goal set to the Corporation – increase in revenues up to the level of international competitors. Rapidly growing markets, including Vietnam, are a revenue driver according to the Corporation's Strategy until 2025.

Rostec Corporation is a Russian corporation that was established in 2007 to facilitate the development, production and export of high-tech industrial products designed for civilian and military applications. The Corporation comprises over 700 organizations that are currently part of eleven holding companies operating in the military-industrial complex and four holding companies working in civilian industry, as well as over 80 directly managed organizations. Rostec's portfolio includes well-known brands such as AVTOVAZ, KAMAZ, Concern Kalashnikov, Russian Helicopters, UralVagonZavod, etc. Rostec companies are located in 60 constituent entities of the Russian Federation and supply products to the markets of more than 100 countries. In 2017 the consolidated revenue of Rostec reached 1 trillion 589 million rubles, while the consolidated net income and EBITDA amounted to 121 and 305 billion rubles respectively. In 2017 the average salary in the Corporation was 46 800 rubles. According to Rostec's strategy, the main objective of the Corporation is to ensure that Russia has a technological advantage in highly competitive global markets. Rostec's key objectives include the introduction of a new techno-economic paradigm and digitalization of Russian economy.