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Da Nang to boost links to Bandung

Update: August, 09/2012 - 10:05

DA NANG — The municipal administration here hopes to boost investment co-operation with Bandung, the capital of Indonesia's West Java Province.

City chairman Van Huu Chien explained his idea to the newly-appointed Indonesian Ambassador to Viet Nam Mayerfas at a meeting on Tuesday.

"The city has called for more foreign investment in tourism and hi-tech sectors and we expect to sign a friendship agreement with Bandung next year," Chien said.

The ambassador said he would bring Indonesian businesses to Da Nang to participate in an investment and trade forum next year.

"Most Indonesian investment projects in Viet Nam are located in Ha Noi and HCM City. It has total capital of US$2 billion. In efforts to expand investment, we will soon host a meeting of Indonesian and Vietnamese businesses soon," said Mayerfas.

Bilateral trade between Viet Nam and Indonesia has reached a new high of $5 billion and the figure is expected to double by 2015.

Da Nang has filled 87 per cent of six industrial parks and is calling for investment in high-tech and Information Technology parks.

Meanwhile, the latest figures from the Indonesian Embassy's trade office show that two-way trade between the two countries reached $2.2 billion in the first six months of this year, of which Viet Nam enjoyed a trade surplus of $60 million.

Top Vietnamese exports included coffee, minerals, telephones and components, chemicals, electronics, electric cable and steel products. Viet Nam imported $1 billion worth of products, including seafood, cloth and other raw materials for the garment industry, wooden goods and pharmaceuticals, down 1.7 per cent against the same period last year.

However, rice exports dropped 55.3 per cent. — VNS

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