Indonesia-Vietnam business forum unlocks new cooperation frontiers

An Indonesia-Vietnam business forum was jointly held on September 26 by the Vietnam Chamber of Commerce and Industry – Ho Chi Minh City Branch (VCCI-HCM) and the Indonesian Consulate General in HCM City to ignite new business opportunities for small-and medium-size enterprises (SMEs) in the high-tech, agriculture, and fishery sectors.

Indonesian Consul General Agustaviano Sofjan vowed all possible support to connect the two countries’ business communities, especially in the high-tech sector.

Celebrating a decade of strategic partnership, with Vietnam being Indonesia's sole strategic partner in the Association of Southeast Asian Nations (ASEAN), the stage is set for deeper trade and investment ties.

Indonesia currently stands as Vietnam's third largest trade partner within ASEAN, while Vietnam ranks fourth for Indonesia. As of June 2024, Indonesia secured the 30th position among 146 countries and territories investing in Vietnam, with 115 projects valued at over 662 million USD.

Both nations have committed to swiftly developing an Action Plan for the 2024–2028 period, aiming to boost two-way trade to 18 billion USD by 2028. To achieve this, a multitude of trade and investment promotions are underway, alongside efforts to eliminate barriers for goods from both sides, he added.

VCCI-HCM Deputy Director Nguyen Huu Nam highlighted the growing dominance of Vietnamese goods in Indonesia, led by computers, electronics and components.

The Vietnamese and Indonesian governments are actively promoting collaboration in emerging fields such as digital economy, green economy, e-vehicle and battery ecosystems. Moreover, cooperation under the Just Energy Transition Partnership (JTEP) framework is expanding, with a focus on Halal and food security, he said.

Participants received updates on the Indonesian market and the upcoming Trade Expo Indonesia, the country's largest annual international trade exhibition. This event promises to facilitate direct trade connections between Indonesian firms and foreign partners in various sectors./.