In this photo released by VinFast, Indonesian President Joko Widodo (centre right) speaks with Vingroup Chairman and VinFast Global CEO Pham Nhat Vuong, center left, after visiting VinFast EV manufacturing complex in Hai Phong, Vietnam on Saturday, Jan. 13, 2024. - VinFast via AP
HANOI: Prime Minister Pham Minh Chinh and Indonesian President Joko Widodo co-chaired a high-level business dialogue in Hanoi last Saturday as part of the latter’s state visit to Vietnam.
At a meeting a day earlier, the two leaders shared the view that economic and trade ties remain a bright spot in bilateral relations, with two-way trade reaching US$13bil in the first 11 months of 2023 and expected to hit US$15bil soon and even US$18bil by 2028.
At the dialogue, Widodo suggested the two countries step up dialogue and high-quality cooperation to realise their common vision of becoming high-income nations by 2045.
Indonesia has opened a carbon trading exchange and is promoting the electric vehicle (EV) industry, the president said.
He expressed his hope that leading Vietnamese businesses will increase their investment in the country, especially in its new capital city, covering such spheres as the EV industry, aviation, tourism, real estate, science and technology, banking, finance, education, and manufacturing.
Chinh said that Widodo’s visit and his opinions delivered at the dialogue will encourage enterprises to step up their cooperation and investment.
Pointing out that economic cooperation has yet to match the bilateral political ties as well as the two economies’ stature and expectations, the prime minister called on businesses to continue their connectivity and investment in order to bring about high-level agreements between the two countries and fulfil their set targets.
He expressed appreciation for Indonesian investors in Vietnam, with many projects running successfully, noting the country is attracting investment in emerging sectors like the digital economy, green economy, circular economy, knowledge-based economy and sharing economy, along with the halal industry and agriculture.
The prime minister also expressed his hope that Indonesian businesses will support their Vietnamese counterparts to join supply chains in Indonesia.
Vietnam always creates optimal conditions for enterprises, including those from Indonesia, to operate stably, sustainably and successfully in the country, he said.
Earlier last Saturday, the two leaders exchanged views on issues of shared concern during a working breakfast.
Later, Widodo made a field trip to VinFast EV manufacturing complex in the northern port city of Hai Phong as part of his state visit to Vietnam.
After visiting the EV manufacturing factory, the Widodo pledged to create conditions for VinFast, a subsidiary of private conglomerate Vingroup, to complete procedures to invest and do business in the Indonesian market.
Earlier, EV maker said it plans to invest at least US$1.2bil in Indonesia in the long-term. Apart from distributing imported cars from Vietnam in the first phase, VinFast will build a US$200mil EV factory in the country with an expected annual capacity of 30,000 to 50,000 vehicles.
During the meeting with representatives of businesses operating in both markets, Widodo and Chính were reported that VinFast and GSM, which offers VinFast electric car and motorbike rental and taxi services, and PT GoTo Gojek Tokopedia Tbk, an Indonesian technology company, have signed an agreement aiming to promote green transport in Indonesia. — Viet Nam News/ANN
