​Vietnam calls for increased Indonesian investment, pledges support for investors

​Vietnam calls for increased Indonesian investment, pledges support for investors

Vietnamese Party General Secretary To Lam has urged Indonesian enterprises to expand their investments in various sectors in Vietnam, reaffirming the country’s commitment to supporting and facilitating foreign investors.

Vietnamese Party General Secretary To Lam (C) receives Budiarsa Sastrawinata (R), CEO of Indonesia’s Ciputra Group, in Jakarta, March 9, 2025. Photo: Vietnam News Agency

Party leader Lam conveyed this message during his meetings with representatives of leading Indonesian corporations in Jakarta on Sunday, held as part of his ongoing state visit to Indonesia aimed at fostering multifaceted cooperation, the Vietnam News Agency reported.

In discussions with Budiarsa Sastrawinata, CEO of Ciputra Group, Lam praised the company's contributions to Vietnam’s real estate sector, particularly its investment in the Nam Thang Long Urban Area, one of Hanoi’s largest foreign-invested urban complexes.

Encouraging further expansion, he invited Ciputra Group to explore opportunities in green and smart city development and large-scale tourism projects. He also reaffirmed Vietnam’s ongoing institutional reforms aimed at creating an optimal business environment for foreign investors.

Lam assured support for Ciputra’s existing projects and encouraged the company to work closely with the Hanoi administration and relevant agencies to ensure smooth project implementation.

In response, Ciputra’s leadership expressed appreciation for Vietnam’s facilitation efforts and pledged continued investment in residential and office projects while exploring new sectors in the country.

Meeting with Patrick Walujo, CEO of PT GoTo Gojek Tokopedia (GoTo), and Garibaldi Thohir, president director and CEO of PT Alamtri Resources Indonesia, Lam welcomed their interest in Vietnam and reaffirmed the country’s dedication to supporting Indonesian investors.

The Party leader identified key investment priorities, including renewable energy, high-tech agriculture, digital transformation, and international financial centers.

Encouraging GoTo to leverage its expertise, Lam suggested the company invest in Vietnam’s digital finance, digital banking, and financial technology sectors through partnerships with local institutions.

For PT Alamtri Resources Indonesia, Lam proposed collaboration in environmentally friendly mining and the transfer of modern, safe mining technologies.

He also highlighted opportunities in renewable energy, logistics development, and the electric vehicle (EV) and battery market, urging the company to partner with Vietnamese enterprises to enhance smart transportation infrastructure.

Both business leaders expressed strong interest in expanding their investments in Vietnam and looked forward to continued government support.

During a meeting with Oey Alfred, director of Sungai Budi Group, Lam acknowledged the group’s successful agricultural collaborations with Vietnamese partners, particularly in coconut and sugarcane production.

He noted Vietnam’s strong potential in various agricultural sectors, including fisheries and Halal food production, and encouraged further cooperation.

Alfred emphasized the group’s fruitful partnership with Thanh Thanh Cong - Bien Hoa JSC (TTC AgriS), Vietnam’s largest sugar company, in integrating scientific advancements into high-tech agriculture. He expressed interest in expanding agricultural value chain collaborations with Vietnamese businesses.

In a separate meeting with Anindya Bakrie, chairman of the Indonesian Chamber of Commerce and Industry (KADIN), Party General Secretary Lam praised the chamber’s role in fostering bilateral trade and investment.

He highlighted the importance of stronger ties between the Vietnam Chamber of Commerce and Industry and KADIN, advocating for increased delegation exchanges, information sharing, and investment facilitation.

Lam reassured Indonesian businesses of Vietnam’s continued administrative reforms aimed at enhancing investment efficiency.

Bakrie reaffirmed KADIN’s commitment to bolstering Vietnam-Indonesia trade and investment, particularly in high-tech industries, the green economy, and the semiconductor sector. He called for deeper business collaborations and formal agreements between the two chambers to strengthen economic ties.

Indonesia is currently Vietnam's second-largest trading partner within ASEAN, while Vietnam ranks as Indonesia’s fourth-largest trading partner in the region. In 2024, total trade turnover between the two countries reached US$16.7 billion, with a target to increase this figure to $18 billion by 2028.

In the investment sector, Indonesia has 123 active projects in Vietnam, with a total registered capital of $682 million.

Meanwhile, Vietnamese businesses have been expanding their investments in Indonesia, particularly VinFast – an EV maker – which has committed to investing $1.2 billion in Indonesia.

The company is actively expanding its operations in EV production, the electric taxi business, and the development of EV charging stations in the country.

Tuoi Tre News