Vietnamese, Indonesian businesses strengthen investment, trade ties

Vietnamese, Indonesian businesses strengthen investment, trade ties

The event created direct opportunities for businesses from both sides to connect, explore high-competitiveness products and discuss promising investment prospects in West Java.

Nguyễn Phúc Nam, deputy director-general of the Asia–Africa Market Department under Việt Nam’s Ministry of Industry and Trade, speaks at the event. — VNA/VNS Photo

A Vietnam–West Java Business Networking Forum took place on Friday in Bandung, Indonesia, bringing together dozens of Vietnamese enterprises and potential partners from West Java, one of Indonesia’s most dynamic provinces in export, manufacturing and investment attraction.

The event created direct opportunities for businesses from both sides to connect, explore high-competitiveness products and discuss promising investment prospects in West Java.

Nguyễn Phúc Nam, deputy director-general of the Asia–Africa Market Department under Việt Nam’s Ministry of Industry and Trade, highlighted that Indonesia is currently Việt Nam’s second-largest trading partner in ASEAN, while Việt Nam ranks as Indonesia’s fourth-largest partner in the bloc.

To date, Indonesian businesses have invested nearly US$700 million in Việt Nam, mainly in food processing, energy, construction materials, logistics and retail.

Conversely, Việt Nam’s enterprises are increasingly drawn to the Indonesian market, particularly in information technology, consumer goods and high-tech agriculture.

Nam highlighted the cooperation potential between the two sides remains vast, saying that creating more platforms for enterprises to connect and explore partnership opportunities is an effective approach, especially in shared areas of interest such as agriculture, digital economy, energy, high-tech industries, pharmaceuticals and medical equipment.

The forum is expected to generate new momentum for Vietnamese enterprises to expand cooperation and tap into Indonesia’s vast market potential, contributing to the shared ASEAN goals of boosting exports, investment, and key manufacturing sectors.

Mai Thị Kim Phụng, from the Huy Van Cashew Import-Export Company in Bình Phước Province, said Indonesia is a highly potential market for both raw cashew supply and retail products, given its population of nearly 300 million.

She expressed her hope for finding importers for roasted cashew nuts while also seeking raw cashew suppliers from Indonesia.

West Java, a key industrial hub of Indonesia, is home to major sectors such as textiles, footwear, and creative design. The province contributes about 23 per cent of Indonesia’s total exports to Việt Nam, with notable products including medical equipment, household goods, agro-fishery products, processed foods, dried fruits and spices. 

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