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VN-Indonesia trade reaches new heights

Update: December, 08/2012 - 09:17

JAKARTA (VNS)— Viet Nam has become an attractive investment destination due to the country's investment promotion policies and increasing efforts to improve its business climate, said Vietnamese Ambassador to Indonesia Nguyen Xuan Thuy at a conference here yesterday.

Viet Nam's fast growth rates in recent years and top global rankings as a producer and exporter of rice, pepper and seafood have opened up many opportunities for both domestic and foreign investors, Thuy told representatives of about 60 Indonesian companies participating in the conference.

The ambassador spoke of the rapid development in the relationship between the two countries and said that they have targeted bilateral trade worth US$5 billion by 2015.

Bilateral trade reached $3.3 billion in the first nine months of this year, with Vietnamese exports to Indonesia accounting for over $1.6 billion of the total, a year-on-year rise of 5.43 per cent. Total trade was estimated to hit $4.5 billion by the end of the year.

Among the key Vietnamese exports to the Indonesian market were mobile phones and parts, steel, rice, crude oil and coffee.

Indonesian businesses greatly appreciated Viet Nam's investment promotion policies and efforts to improve its investment environment, said Juan Gondokusumo from the Indonesian Chamber of Commerce and Industry.

He urged a greater effort to match enterprises with opportunities and improve information exchanges with Vietnamese counterparts.

In the first 11 months of this year, Indonesian companies pumped $244 million into 33 projects in Viet Nam. Indonesia currently ranks 30th among the 96 countries and territories investing here, according to the Ministry of Planning and Investment's Foreign Investment Agency. — VNS

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