Xinhua recently reported on Vietnamese President Zhang Jin Chong’s 5-day visit to Russia. In a press conference, Zhang told the Russian media that Vietnam welcomes Russia to set up a vessel repair center in Cam Ranh Bay. Russian President Putin agreed to provide Vietnam with a US$10 billion loan, of which US$8 billion will be for a nuclear power station construction project. The two presidents also agreed that the two countries should eventually establish a partnership in the area of defense. Zhang emphasized that the services provided to Russia at Cam Ranh Bay will not have a military orientation. The Russian Navy Commander in Chief confirmed that there were talks among Russia, Cuba, Seychelles, and Vietnam to build “technical support centers.” Vietnam recently also agreed on a joint-venture with Russia to develop oil fields in the South China Sea. In the 1980s, Cam Ranh Bay was the largest Russian military base outside of Russia.
Source: Xinhua, July 30, 2012