Indonesian businesses keen to explore Vietnamese market

In his opening remarks, Vietnamese National Assembly Chairman Vuong Dinh Hue, who is in Jakarta for an official visit, briefed business executives on Vietnam’s development potential, saying the economy has boasted high growth of more than 6% per annum, a lucrative market of more than 100 million consumers and an attractive tourist destination.

Vietnam always identifies the foreign-invested economic sector as an important part of its economy. To date, it has attracted 37,000 FDI projects with a total investment of nearly US$450 billion, becoming one of the 20 most successful FDI attracting countries in the world.

Currently, Indonesia is Vietnam’s third largest trading partner in ASEAN and the 30th largest investor worldwide. Two-way trade turnover in 2022 reached US$14 billion, and is on track to soon hit the US$15 million target set for 2028.

Hue affirmed that the National Assembly and the Government of Vietnam always strive to synchronously perfect its legal system and economic institutions to create an attractive investment and business environment for domestic and foreign firms to operate efficiently.

The future of the Vietnam-Indonesia cooperation relationship depends a lot on the dynamic, creative and effective cooperation of businesses themselves because the best way to predict the future is to create it…, stressed Hue.

At the forum, delegates witnessed the signing of a business and economic cooperation deal between Vietnam National Shipping Lines and Black Diamond Resources Company Sinar Multi Surya Cemerlang Company and Virema Impex Company in the field of supplying and transporting coal and rice.

They also witnessed the launch of a direct flight between Ho Chi Minh City (Vietnam) and Jakarta (Indonesia) by VietJet Air.