Việt Nam, Indonesia eye stronger economic, trade ties

At the high-level meeting. VNA/VNS Photo

HÀ NỘI – Prime Minister Phạm Minh Chính and Indonesian President Joko Widodo co-chaired a high-level business dialogue in Hà Nội on January 13 morning as part of the latter’s state visit to Việt Nam.

At their meeting one day earlier, the two leaders shared the view that economic and trade ties remain a bright spot in bilateral relations, with two-way trade reaching US$13 billion in the first 11 months of 2023, and expected to soon hit $15 billion, and even $18 billion by 2028.

At the dialogue, President Widodo suggested the two countries step up dialogues and high-quality cooperation to realise their common vision of becoming high-income nations by 2045.

Indonesia has opened a carbon trading exchange and is promoting the e-vehicle industry, the President said, expressing his hope that leading Vietnamese businesses will increase their investment in the country, especially in its new capital city, covering such spheres as the e-vehicle industry, aviation, tourism, real estate, science-technology, banking, finance, education, and manufacturing.

For his part, PM Chính held that President Widodo’s visit and his opinions delivered at the dialogue will encourage enterprises to step up their cooperation and investment.

Pointing out that economic cooperation has yet to match the bilateral political ties as well as the two economies’ stature and the two sides’ expectations, the PM called on businesses to continue their connectivity and investment in order to materialise high-level agreements between the two countries and fulfill their set targets.

He appreciated Indonesian investors in Việt Nam, with many projects running successfully, noting the country is attracting investment in emerging sectors like digital economy, green economy, circular economy, knowledge-based economy and sharing economy, along with the halal industry and agriculture.

The PM also expressed his hope that Indonesian businesses will support their Vietnamese counterparts to join supply chains in Indonesia and the world as well.

Việt Nam always creates optimal conditions for enterprises, including those from Indonesia, to operate stably, sustainably and successfully in the country, he affirmed.  

Earlier the same day, the two leaders exchanged views on issues of shared concern during their working breakfast.

After visiting the electric automobile manufacturing factory in Hai Phong, the Indonesian President pledges to create conditions for VinFast to complete procedures to invest and do business in the Indonesian market. VNA/VNS Photo

The same day, Indonesian President Joko Widodo made a field trip to VinFast electric vehicle manufacturing complex in the northern port city of Hải Phòng as part of his state visit to Việt Nam.

After visiting the electric automobile manufacturing factory there, the President pledged to create conditions for VinFast, a subsidiary of private conglomerate Vingroup, to complete procedures to invest and do business in the Indonesian market.

Earlier, the EV maker said it plans to invest at least $1.2 billion in Indonesia in the long-term. Apart from distributing imported cars from Việt Nam in the first phase, VinFast will build a $200 million EV factory in the country with an expected annual capacity of 30,000-50,000 vehicles.

During the meeting with representatives of businesses operating in the respective markets, President Widodo and Prime Minister Chính were reported that VinFast and GSM, which offers VinFast electric car and motorbike rental and taxi services, and PT GoTo Gojek Tokopedia Tbk, an Indonesian technology company, have signed a MoU aiming to promote green transport in Indonesia.

GSM is also planning to invest $900 million in Indonesia in the coming time. VNS