RUSSIA AND VIETNAM STRENGTHEN COOPERATION IN ENERGY SPHERE








HANOI, March 1, 2001. /From RIA Novosti special correspondent Marianna Shatikhina/--Interaction in the energy sphere has the leading part in trade and economic cooperation between Russia and Vietnam, announced presidents of the two countries Vladimir Putin and Tran Duc Luong at a press conference that followed Russian-Vietnamese talks.


	According to the Vietnamese president, talks mostly focused on the Russian-Vietnamese joint venture Vietsovpetro and on the possibility of expanding Russia's participation in the project. The sides agreed that they would join efforts to build Vietnam's first oil-processing plant. The plant is intended as a joint venture and will be created with the help of the latest technologies.


	On his part, Vladimir Putin confirmed that Russia, who drew around $0.5 billion from Vietsovpetro operations in 2000, was indeed willing to expand its participation in the project. The funds invested by Russian participants will be used by Russian companies--that is, orders will be placed with Russian enterprises, explained the Russian president.


	According to Putin, the subject surfaced during Russian-Vietnamese summit talks and will "be given more careful consideration in due course."