Indonesian businesses eye Vietnamese market

(VOV) - The Southeast Asian region in general and especially Vietnam and Myanmar are becoming key Indonesian business investment destinations, boasting surging growth rates and consumer demand.

In 2012, Indonesia’s National Cement Company spent US$157 million on 70 percent stake in Thang Long Cement Factory, transforming the Vietnamese firm Southeast Asia’s largest cement producer.  

The Indonesian National Coal Corporation confirmed it regards Vietnam as a market replete with potential and a promising customer base for coal exports.

As of May 2013, Indonesia had invested in 35 Vietnam-based projects capitalized at US$280 million, ranking it 27th among the country’s 100 foreign investors.

Eight state-owned Indonesian businesses are planning to enter the Vietnamese market in the very near future, focusing on processing, manufacturing, medicine and pharmacy mining, electricity, and information technology.