An increasing number of Indonesian businesses are investing in Ho Chi Minh City, making up 30 percent of the bilateral trade between Vietnam and Indonesia in 2023, according to Duong Ngoc Hai, deputy chairman of the municipal administration.

Hai was speaking at a ceremony held by the Indonesian Consulate General in Ho Chi Minh City to celebrate the 79th anniversary of Indonesia’s Independence Day (August 17) at JW Marriott Hotel & Suites Saigon in District 1 on Thursday.

Highlighting the strengthening Vietnam-Indonesia strategic partnership, Hai expressed his satisfaction with the continued growth of bilateral cooperation, especially in trade and investment between Vietnam and Indonesia, with a focus on Ho Chi Minh City.

With more and more Indonesian enterprises choosing the city as their investment destination, Indonesia is now among the top 20 largest foreign investors in the metropolis, the official said at the ceremony.

Recent Indonesian investment in Ho Chi Minh City has focused primarily on manufacturing, retail, food processing, and real estate.

Along with increased investment cooperation, trade between the city and Indonesia is growing, accounting for about 30 percent of the two countries’ US$13.8 billion bilateral trade in 2023.

With trade value reaching $7.76 billion in the first half of 2024, up 15.38 percent year on year, the two countries have set sights on boosting two-way trade to $18 billion by 2028.

In addition to increased trade and investment, Hai expressed a desire to enhance cooperation with Indonesia in technology, green development, digital transformation, culture, and education, according to the Vietnam News Agency.

Addressing the ceremony, Agustaviano Sofjan, Consul General of Indonesia, said his country is looking forward to celebrating the 100th anniversary of Indonesia's founding in 2045. 

Indonesia has appreciated Vietnam’s companionship during that 100-year journey, stated Sofjan.

He emphasized that Indonesia’s path to 2045 is closely linked to its relationship with Vietnam, a neighbor and close friend in the region.

The two countries have shared a journey of courage, mutual respect, and a common aspiration for prosperity.

He underlined that there is enormous potential for a cooperative partnership between Indonesia and Vietnam as well as Ho Chi Minh City.

As important members of ASEAN, Indonesia and Vietnam have contributed greatly to dynamism and growth in the region, he added.

He pledged that the Consulate General will do its best to serve as a bridge connecting businesses, communities, and younger generations in both countries, contributing to promoting the strategic partnership between the two nations.

Deputy Chairman Thai told the consul general that he believes joint efforts between the two countries will enhance their potential for greater cooperation.

“Accompanying the efforts of the two governments, Ho Chi Minh City is committed to promoting multifaceted partnership with Indonesia, toward the common vision of a friendly, prosperous, and sustainable Southeast Asia,” Hai said. 

Vietnam and Indonesia established diplomatic relations in 1955 and entered into their strategic partnership in 2013.

Like us on Facebook or  follow us on Twitter to get the latest news about Vietnam!