"We hope that we will be able to finally agree on a list of priority investment projects, there should be more than 20 of them,” Medvedev said, adding the two states had “plenty of bilateral investment opportunities to be seized.”

Among the possible sectors for investment, Medvedev named vehicle production, hydrocarbons and nuclear energy and tourism. Vietnamese companies will also be invited to invest in Siberia and Far East development projects, he said.

The two premiers said Russian-Vietnamese trade was likely to exceed $7 billion by 2015 and $10 billion by 2020.

Premier Dung praised the talks as “successful” and expressed hope for further cooperation, especially regarding supplies of Russian military equipment.