On receiving his Russian guest on Monday, Vietnamese President Truong Tan Sang said Russia should offer incentives to Vietnamese investors to do business in the Far East. The president made the statement at a reception held on in Hanoi June 17 for visiting Russian Minister for Far East Development V. I. Ishaev. Sang also praised the preparations by the two countries for the second round of negotiations for a bilateral free trade agreement. The two sides should specify the contents of the comprehensive strategic partnership between Russia and Vietnam, Sang said, adding that political trust lays a foundation for the Far East’s economic development, and for the two countries’ ministries to increase their cooperation. In reply, Ishaev said that his ministry and other relevant Russian agencies have coordinated in implementing  a strategic socio-economic development scheme for the Far East until 2025. The region’s spearhead economic fields include shipbuilding, natural resources exploitation, chemical production, aquaculture, the trans-Siberian railway and airport, he said, adding that these sectors offer a chance for businesses of Russia and Vietnam to intensify their strengths. He informed Sang about the land and assets incentives intended for foreign investors in the Far East and called on Vietnamese companies to make investments in the region. Currently, Russia invests in 93 projects worth over US$2 billion in Vietnam, ranking 18th out of the countries and territories investing in the country. The two-way trade between the two countries in the January-April period was US$861 million, up 19 percent year on year.