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Indonesian companies eye opportunities in Vietnam
Indonesian companies are actively seeking new overseas markets in Vietnam, Cambodia and China to expand their business activities, said chairman of the Indonesian Employers’ Association (APINDO), Sofjan Wanandi.
Indonesia’s investment in foreign countries increased threefold from $2.7 billion in 2010 to $7.7 billion in 2011, primarily in Asian, American and African countries.
APINDO Vice Chairman Hariyadi Sukamdan said that Indonesian businesses have strengthened their African investments, especially in oil and gas and mining.
Both the chairman and vice chairman noted that Indonesia is increasing its investment in foreign countries because of obstacles to domestic investment such as high production costs and poor infrastructure.
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Vietnam’s business outlook has left European enterprises little to cheer about.