Indonesia promotes investment cooperation with Vietnam

The first Vietnam-Indonesia trade, tourism and investment forum took place in Hanoi on June 11 with the aim of fostering bilateral cooperation.

The forum, jointly held by the Indonesian embassy in Vietnam and the Vietnam Chamber of Commerce and Industry (VCCI), provided a good chance for businesses from both countries to seek cooperative opportunities.

At the event, Indonesian ambassador Mayerfas affirmed the Vietnam’s importance for Indonesia and the region, especially in trade and investment. He said he was delighted with the recent development of bilateral cooperation in various fields, especially trade.

Although their mutual economic ties have not established very long, they have achieved considerable growth, said the diplomat.

Two-way trade turnover between the two nations hit $4.6 billion in 2011, a record high since they established diplomatic ties in 1995.

However, the figure has yet to match the potential of either side and they should make more efforts to raise it to $10 billion by 2015, instead of the $5 billion target set during Prime Minister Nguyen Tan Dung’s visit to Indonesia last September.

VCCI chairman Vu Tien Loc said the forum wouldl help develop bilateral trade, tourism and investment ties in line with business demands.

Indonesia currently ranks 29th out of the 91 foreign investors in Vietnam with 31 projects worth more than $233 million.

Source VOV