​Vietnam, Indonesia forge stronger economic ties at Jakarta business dialogue

​Vietnam, Indonesia forge stronger economic ties at Jakarta business dialogue

Vietnam’s Party General Secretary To Lam, during his state visit to Indonesia and official visit to the ASEAN Secretariat, attended a high-level business dialogue in Jakarta on Monday, focusing on strengthening economic partnerships between both nations.

Vietnam’s Party General Secretary To Lam (first row, L) shakes hands with a delegate at a high-level business dialogue in Jakarta, Indonesia, March 10, 2025. Photo: Vietnam News Agency

The event, themed ‘Partnerships for Progress and Prosperity,’ was organized by the Vietnamese Ministry of Finance, the Vietnamese Embassy in Indonesia, the Indonesia-Vietnam Friendship Association, and Ciputra Group, marking the 70th anniversary of Vietnam-Indonesia diplomatic ties.

Participants highlighted the significance of the event, occurring as both nations celebrate seven decades of diplomatic ties and aim to elevate their relationship to a comprehensive strategic partnership.

Bilateral trade has surged, reaching an estimated US$16 billion in 2024, a 16-percent increase from the previous year, and is on track to surpass the $18-billion target by 2028.

Investment cooperation has also witnessed substantial growth.

Businesses from both countries emphasized the positive outcomes of economic cooperation, investment opportunities, and strategic partnerships in emerging sectors such as artificial intelligence, digital economy, green energy, electric vehicles, and the Just Energy Transition Partnership.

Discussions also covered food security, halal industry, education, and maritime cooperation, reflecting the deepening bilateral relationship.

Both Vietnam and Indonesia reaffirmed their commitment to sustainable growth, innovation, and regional cooperation, creating a foundation for long-term economic collaboration.

Speaking at the event, Party chief Lam emphasized that Vietnam has transformed from an underdeveloped country into a symbol of stability and growth after nearly 40 years of economic reform and global integration.

He attributed this success to national unity, self-reliance, and the leadership of the Communist Party of Vietnam, along with support from international partners, including Indonesia.

The Vietnamese Party leader emphasized the untapped potential for cooperation, driven by the strengths of both nations and the strategic partnership.

He encouraged Indonesian businesses to expand their investments in Vietnam, aiming to position themselves as one of the country’s top investors.

He urged the two governments to enhance the investment environment, provide timely support for businesses, and strengthen institutional reforms to promote transparent and business-friendly policies.

Vietnam, he added, is particularly keen to attract investment in such sectors as semiconductors, AI, the Internet of Things, renewable energy, financial technology, and biotechnology.

These industries, he noted, hold significant growth potential for both Vietnam and Indonesia.

Lam assured Indonesian businesses that Vietnam is committed to creating a favorable investment climate, encouraging them to seize opportunities in the country’s rapidly expanding economy.

During the event, Vietnamese and Indonesian businesses signed multiple cooperative agreements across various sectors, including education, technology, real estate, and energy.

Some of the notable agreements include a memorandum of understanding between VinFast and Bank Negara Indonesia for comprehensive green solutions and financing; agreements between SOVICO and Ciputra Group for real estate and smart city development; and contracts between FPT Software and Pertamina for AI-driven digital transformation.

The Party chief’s trip to Indonesia, running from Sunday to Tuesday, is made at the invitations of Indonesian President and President of the Great Indonesia Movement Party Prabowo Subianto and ASEAN Secretary-General Kao Kim Hourn.

Tuoi Tre News