Strengthening Vietnam-Indonesia Cooperation Ties

VCCI President Pham Tan Cong (R) and Ambassador of the Republic of Indonesia to Vietnam Denny Abdi (L).

Ambassador Denny Abdi said Indonesia and Vietnam signed many cooperation agreements and established many bilateral cooperation mechanisms. In particular, the two countries upgraded their bilateral relations to Strategic Partnership in 2013. The two sides have also made efforts to foster cooperation in the economy, trade and investment in recent years.

He added that research and innovation, high-tech industry and green economy are three potential fields that will bring further benefits to the bilateral partnership. In addition, the ambassador emphasized the potential of the seafood industry in production, supply and cooperation to join the global supply chain.

Ambassador Denny Abdi emphasized that Indonesia will continue to encourage businesses to seek development opportunities in the Vietnamese market. Indonesia has also invited a number of Vietnamese companies to invest in many fields such as seafood, agriculture and other export items.

Agreeing with Ambassador Denny Abdi, VCCI President Pham Tan Cong said that the two countries have conditions to better support bolstering bilateral relations, including a large population, increasing economic achievements, increased purchasing power and geographical proximity to other ASEAN member states. Indonesia and Vietnam need to further promote their good relationship toward concrete cooperation, especially in economy and trade.

The bilateral cooperation should not be limit ed to large corporations, but also include the engagement of small and medium-sized enterprises (SMEs) and start-ups, he added. The two sides need to facilitate enterprises to conduct trade and business activities and seek investment opportunities, especially in export, renewable energy, high technology, and technical transformation.

Vietnam and Indonesia have recorded remarkable growth in bilateral trade, reaching US$11.5 billion in 2021, and about US$13 billion in 2022, exceeding the target of US$10 billion proposed by the leaders of the two countries. The two-way trade value has increased by an average of 9.77% over the past five years. The two sides agreed to set a new bilateral trade target of US$15 billion by 2028.