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Vietnamese enterprise to conduct $250m infrastructure projects in Indonesia

Update: October, 13/2018 - 08:00
Việt Nam Prime Minister Nguyễn Xuân Phúc (centre) witnesses the signing of agreement for three infrastructure projects between Indonesia’s Nikko Sekuritas Indonesia and Việt Nam’s construction firm Licogi 16 on October 12 in Bali, Indonesia. — VNA/VNS Photo Thống Nhất
Viet Nam News

BALI — Three infrastructure projects between a Vietnamese and an Indonesian enterprise with total investment to the tune of US$300 million have been signed in the presence of Vietnamese Prime Minister Nguyễn Xuân Phúc.

According to the agreement, Nikko Sekuritas Indonesia, one of Indonesia’s biggest investment banking firms, and the construction company Licogi 16 JSC of Việt Nam will together implement two construction projects in Indonesia – a $50-million financial tower in Jakarta and a 6.7km highway with estimated capital of $200 million – marking the first time a Vietnamese enterprise has conducted an infrastructure project in the neighbouring country.

At the same time, Nikko would invest $50 million into Licogi 16’s 50MW solar energy project in central Việt Nam.

The signing took place on the morning of October 12 as the Vietnamese Government leader is on a visit to Indonesia to attend the annual IMF-World Bank meeting on the popular tourist island of Bali.

Licogi 16, previously a State-run firm under the Ministry of Construction, had under its belt several critical large-scale projects including the Hạ Long-Vân Đồn express in the northeastern province of Quảng Ninh, upgrades and expansion of National Highway No.1, and the water treatment facility at the Formosa Hà Tĩnh plant.

All three projects are slated to begin in early 2019.

On the occasion, PM Phúc held talks with Harianto Solichin, President Director of Nikko’s board of directors.

The Vietnamese leader applauded the agreement and expected further co-operation and more public-private partnership (PPP) projects between the two companies, both in Việt Nam and Indonesia.

He hoped that Nikko, with its experience, global network and financial capacity, would support Vietnamese enterprises in investing in Indonesia, and facilitate Indonesian firms’ investment in Việt Nam, especially in airports and sea ports.

The Vietnamese leader reaffirmed the Government’s commitment to maintaining social order and economic stability, improving the business environment for overseas firms to invest in Việt Nam.

For his part, Nikko’s President Director shared his impressions of Việt Nam’s outstanding socio-economic development in recent times, which is made possible by the Government’s commitment to reforms.

He hoped that the PM and concerned authorities would create favourable conditions for the company’s projects in Việt Nam. — VNS


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