Vietnam expects more investors from Indonesia

Vietnam expects more investors from Indonesia


Jakarta (ANTARA News) - Vietnam is expecting more investors from Indonesia to come to that country to increase business relations between the two countries.

Vietnam`s wish was conveyed during a meeting between Indonesian Chamber of Commerce and Industry (Kadin) and Vietnam Chamber of Commerce and Industry (VCCI) in Vietnam on Jan 18.

In his official statement received here on Monday, VCCI chairman Vu Tien Loc stated that the opportunities for Indonesia to invest in Vietnam are big, especially in the high-tech agricultural field, tourism promotion, transportation infrastructure, and clean energy.

"We wish many more investors from Indonesia would come to Vietnam to increase business relations between the two countries. We hope we can learn from you," he noted before Kadin delegation visit to that country, led by general chairman Eddy Ganefo.

According to VCCI and PwC surveys, Vu Tien Loc remarked that Vietnam, along with the US and China, are among the 21 countries in the Asia Pacific region which have the most potential economy for investment.

"An action plan and cooperation between the two countries` chambers are expected in the years to come," he pointed out.

Ganefo remarked that Indonesia has planned to import rice from Vietnam. He added that "rice production cost in Vietnam has been known to be very low, and a cooperation agreement on it will be signed between Kadin and VCCI."

Petrus Tjandra, a Kadin delegation member, explained that rice production cost in Indonesia is higher than in Vietnam, while production condition in the two countries is the same.

"Therefore, we hope we can cooperate with Vietnam in rice production," he revealed.

He elaborated that Indonesia would import rice from Vietnam to meet the shortage in the domestic stock and will export the remaining supply to other countries.

Kadin also hoped to cooperate with VCCI in coal production, especially anthracite coal.

"So far, Indonesia has imported a lot of anthracite coal from Vietnam for iron smelting and to meet the needs of smelters," he noted.

In connection with that, Ganefor hoped for a barter with Indonesia; for example, exporting aircraft, cocopeat, and others to Vietnam, while that country exports anthracite coal and others to Indonesia, with regard to balance trade between the two countries.

Kadin plans to coordinate with VCCI to arrange a business delegation to explore Indonesian market and a forum to realize cooperation programs between the two.

Trade between the two countries has increased from US$4.6 billion in 2012 to $5.6 billion in 2016, growing at a rate of around five percent a year.

Vietnam`s exports to Indonesia include rice, crude oil, cement, electronic components, and agricultural produce.

It imports fertilizers, petroleum oil, machinery, paper, and sweets.

Reported by Subagyo