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The focus was chiefly on developing energy sector cooperation, particularly at the high-technology end. The documents signed included an intergovernmental agreement on building Vietnam’s first nuclear power plant. Signatures were put to cooperation agreements in the financial sector too, with Russia’s Bank for Foreign Trade (VTB Bank) and Bank for Investment and Development of Vietnam agreeing to set up a $500 million investment fund.

At the Russian and Vietnamese presidents’ meeting with businesspeople from the two countries Mr Medvedev noted the good pace of trade growth, but said that similar success has yet to be seen in the important area of investment cooperation. The President called for concerted efforts to expand investment, because this is what will determine long-term economic ties more than anything else. Energy sector cooperation is important, but the two countries also need to develop their partnership in other areas such as machine-building, industry, finance, and high technology.

Mr Medvedev also met with General Secretary of the Vietnamese Communist Party’s Central Committee Nong Duc Manh, Prime Minister of Vietnam Nguyen Tan Dung, and Chairman of the Vietnamese National Assembly Nguyen Phu Trong.

Besides, President Medvedev met with Vietnamese graduates of Soviet and Russian universities.