Indonesia and Vietnam Eye Stronger Economic Cooperation in Five Main Sectors

The Indonesian Embassy in Hanoi, in collaboration with the Vietnamese Ministry of Foreign Affairs, will hold Meet Indonesia on 21-22 March 2024 in Nha Trang.

IDXChannel - The Indonesian Embassy in Hanoi, in collaboration with the Vietnamese Ministry of Foreign Affairs, will hold Meet Indonesia on 21-22 March 2024 in Nha Trang.

The event aims to open wide opportunities for trade and investment cooperation between Indonesia and Vietnam in five main sectors, namely high-tech industries, renewable energy, digital economy, fisheries, and agriculture, as well as tourism.

Currently, Indonesia is Vietnam's third largest trading partner and for Indonesia, Vietnam is the fourth largest trading partner in Southeast Asia. 

As one of Indonesia's largest trading partners - Vietnam has a new target of achieving a trade value of USD15 billion by 2028. 

On the investment side, as of June 2023, Indonesia's accumulated investment reached more than USD645 million. 

Therefore, there is a huge opportunity for both countries to increase economic cooperation.

"In the region, Indonesia and Vietnam have worked together within the ASEAN framework, including when Indonesia held the ASEAN chairmanship - and this strengthens both countries' determination to ensure the Southeast Asian region remains safe, robust and prosperous," Indonesian Ambassador to Vietnam Denny Abdi said in when attending a diplomatic reception held by the Indonesian Consulate General in Ho Chi Minh City on Monday (4/12/2023).

The diplomatic reception was attended by former Vietnamese President Truong Tan Sang who agreed to upgrade Indonesia-Vietnam bilateral relations to a Strategic Partnership with former Indonesian President Susilo Bambang Yudhoyono in 2013.

At the diplomatic reception, The Indonesian Consul General in Ho Chi Minh City, Agustaviano Sofjan in his speech said that the Consulate General in Ho Chi Minh City cooperates with relevant partners in Ho Chi Minh City and provinces in southern Vietnam. 

In 2023, the Consulate General organised various economic, social and cultural activities to encourage increased cooperation and strengthen community relations between the two countries. 

Consul General Agustaviano also said that Indonesia - Vietnam have similar values to promote SDGs through integrating economic, social and environmental development to achieve net zero carbon emission targets. (WHY)