Indonesians urged to invest in VN

August 16, 2017 - 09:00

Trade Minister Enggartiasto "Enggar" Lukita has urged Indonesian businesspeople to co-operate with Vieät Nam to boost trade and investment, instead of competing with the country.

The co-operation includes investing in Vieät Nam to sell more products to countries that Vieät Nam has free trade agreements (FTA) with, said the ministry at the sixth Indonesia-Vieät Nam Joint Commission on Economics, Scientific and Technological Cooperation (JC-ESTC) in Haø Noäi over the weekend.

“We need to invest in Vieät Nam not only because it has 93.3 million people [third biggest country in terms of population in ASEAN], but also because of the other countries that have bilateral FTAs with Vieät Nam,” he said in a press release.

Some Indonesian firms run businesses in Vieät Nam’s property, cement and coal sectors while Vietnamese firms are interested in Indonesia’s coal industry.

Indonesia has seen a trade deficit with Vieät Nam from 2012 to 2016 with the deepest deficit of US$966.5 million in 2014 before easing to $182.6 million, last year.

Total trade reached $6.2 billion last year, with Indonesia exporting $3 billion, dominated by copper, pepper, ground fruits, coconuts, coal, palm oil and its products.

In the first five months this year, nevertheless, Indonesia has managed to book a trade surplus of $5.1 million. – The Jakarta Post

Tags Vietnam Indonesia

FPT and DENSO sign MoU to accelerate software-defined vehicle innovation

bizhub

Sacombank wins nine awards from card organisations

bizhub

Work starts on $84.5-million glove manufacturing project in Nam Định

bizhub

Mega trading project starts construction in Đà Nẵng

bizhub

Samsung holds second corporate social responsibility day

bizhub

Growing wine market to be worth US$382 million

More on this story

bizhub

Naticorp signs condotel project agreement with Thai firm

Nam Tiến Lào Cai Corporation (Naticorp) and Thailand’s InVision Hospitality signed a management agreement for the Scenia Bay condotel project in Nha Trang City on Tuesday.

bizhub

SMEs seek ways to utilise different online marketing channels

Local enterprises, especially small and medium enterprises (SMEs), exchanged measures to promote their business ability and production development through online marketing channels at a forum in HCM City on Tuesday.

bizhub

Maritime Bank to support $104m project

The Governor of the State Bank of Việt Nam (SBV) has named the Maritime Commercial Joint Stock Bank (Maritime Bank) to support the "Urban Environment and Climate Change Adaptation Project" in the cities of Đồng Hới, Quảng Bình province and Hội An, Quảng Nam province".

bizhub

Hòa Phát Group posts robust growth in steel production

Hòa Phát Group manufactured some 209,000 tonnes of steel in July, up 24.7 per cent from last month and nearly 50 per cent from the same period last year.

bizhub

VNDirect be listed on HoSE from August 18

Shares of VNDirect Securities Joint Stock Company will be traded on the HCM Stock Exchange (HoSE), starting from August 18, the southern bourse has announced.

bizhub

VN’s exports of gems and precious metals drops

Việt Nam’s exports of gems and precious metals reached US$252.2 million in revenue in H1, a year-on-year decrease of 53 per cent, financial news website ndh.vn reported.

bizhub

LienVietPostBank limits foreign ownership to 5%

Liên Việt Post Joint Stock Commercial Bank (LienVietPostBank) has decided to limit the maximum ownership of foreign investors to five per cent of charter capital.

bizhub

Luxury gifts and jewellery from Singapore’s RISIS

RISIS, the leading brand of luxury gifts in the Asian market for the last 40 years, now brings its fans a chance to find luxury jewellery and gifts in HCM City.

bizhub

Saigon Co.op, VietinBank sign far-reaching deal

The Saigon Union of Trading Co-operatives (Saigon Co.op) and VietinBank have signed an agreement to leverage their respective strengths to benefit tens of millions of customers.