Investment opportunities promoted in Indonesia
(VOV) - Vietnam has emerged as one of the world’s efficient, attractive and trusted investment destinations courtesy of its offered incentives and improved business environment.
Ambassador Nguyen Xuan Thuy expressed these sentiments at a December 7 workshop in Jakarta introducing Vietnam’s investment-business-related opportunities to interested Indonesians.
Thanks to the Doi Moi (Renewal) policy initiated in 1996, the national economy has enjoyed rapid growth over the years, and the country is now listed among the largest exporters of rice, pepper and seafood.
He noted that during Prime Minister Nguyen Tan Dung’s 2011 visit to Indonesia, both countries agreed on officially upgrading their relationship to the level of a strategic partnership, aiming to raise two-way trade to US$5 billion by 2015.
Thuy also acknowledged challenges the two countries and their business circles face, lamenting how barriers meant to safeguard domestic production in the context of global economic recession now lingering on.
He added investors are more cautious about investing in new overseas projects because of fierce competition between countries wishing to attract foreign direct investment.
These factors not only affect investment cooperation between Vietnam and Indonesia, but also the establishment of a united ASEAN community by 2015, he stressed.
Two-way trade between Vietnam and Indonesia reached US$3.7 billion in 2011 and is expected to amount to US$4.5 billion this year. If the current patterns continue, both countries hope to fulfil the US$5 billion target ahead of schedule.
However, Thuy said Indonesian investment in Vietnam remains a modest US$243 million, much lower than the investments of other ASEAN member countries like Singapore, Thailand and Malaysia.
Juan Gondokusumo, President of the Indonesia-Vietnam Economic Cooperation Coordination Committee, expressed admiration for Vietnam’s high economic growth rate, its initial success in market economy development and its sustainable poverty reduction rate.
He highlighted Vietnam’s contributions to food security reinforcement, saying it has overtaken Thailand to become the world’s largest rice exporter.
Indonesian businesses value the Vietnamese government’s investment incentives and its reforms intended to create a healthy business environment, said Gondokusumo.
He expressed businesses’ desires to increase direct exchanges with their Vietnamese counterparts, including cooperatives and small- and medium-sized enterprises.
The embassy also showed video clips promoting tourism and investment potential in the three regions of Vietnam.