Vietnam Signs $1Bln Telecoms Deal

Vietnam Signs $1Bln Telecoms Deal

Mikhail Metzel / AP
Putin speaking with Vietnamese Prime Minister Nguyen Tan Dung at his Novo-Ogaryovo residence late Tuesday.

Vietnamese Prime Minister Nguyen Tan Dung on Wednesday blessed the signing of a raft of business deals with Russian firms and called on Russians to return to the country.

VimpelCom, Russia's second-largest mobile operator, said Wednesday that it had agreed to form a joint venture in Vietnam and invest $1 billion to develop the country's mobile network. An official at United Company RusAl said it could soon clinch a lucrative deal to develop bauxite deposits in the country.

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