Vietnam, Indonesia have potential to boost economic partnership: Experts
Vietnam and Indonesia have the potential to develop stronger cooperation in economy, trade and investment, participants at a trade promotion conference heard in Ho Chi Minh City on December 19.
HCM City (VNA) - Vietnam and Indonesia have the potential to develop stronger cooperation in economy, trade and investment, participants at a trade promotion conference heard in Ho Chi Minh City on December 19.
Nguyen Tuan, Vice Director of the HCM City and Trade Promotion Centre (ITPC), said that Indonesia is a big market for Halal products, and a promising importer of Vietnam among ASEAN member countries.
Statistics from the General Department of Vietnam Customs show that trade between Vietnam and Indonesia reached 11.58 billion USD in the first 10 months of 2022, including Vietnam’s exports of 3.78 billion USD, up 22.3% year on year.
Among Vietnamese products exported to Indonesia, computers, electronic products and components are the leading groups in terms of turnover.
Tuan held that Vietnamese products have gradually clinched their position in the Indonesian market with rising export revenue. However, strong products such as farm produce, garment and textile, foodstuff, home appliances and consumer goods have yet to be popular in the market, he said, stressing that there is high potential for the two sides to boost their economic, trade and investment partnership.
In order to optimise the advantages of businesses from the two sides and speed up the post-pandemic economic recovery, the ITPC will hold more trade promotions and exchange activities to support Vietnamese and Indonesian firms to meet and seek partnerships.
Indonesian Consul General in HCM City Agustaviano Sofjan underlined despite the adverse impacts of COVID-19 on the global economy, Vietnam and Indonesia have been the two fastest recovering economies in the region.
The results have not only benefited people of both countries, but have also contributed to creating a favourable business environment and stability in the region, he said.
The diplomat pledged that Indonesian agencies always create optimal conditions for businesses from both sides, thus creating more chances to expand their networks and seek more partnerships./.
Indonesian well-known scholar Prof. Aleksius Jemadu has said that Indonesia and Vietnam have a lot of potential to strengthen relations in economy, trade, and investment, and jointly promote and maintain regional stability thanks to their traditional relationship and shared view on issues.
Former Indonesian Ambassador to Vietnam Ibnu Hadi has shared that he is “very impressed that Vietnamese people are very humble and hard working” that are formed and nurtured during the process of national construction and development.
Vietnamese President Nguyen Xuan Phuc’s state visit to Indonesia will mark a new milestone in the unique and old relationship between the two countries, Veeramalla Anjaiah, a senior researcher at the Centre for Southeast Asian Studies (CSEAS) in Indonesia, has said.
The upcoming state visit to Indonesia by Vietnamese President Nguyen Xuan Phuc is very crucial for the two countries to continue their discussion on how the two countries can substantially create synergy and cooperate with one another to become economic generators in the region, according to President of the Indonesia-Vietnam Friendship Association (IVFA)'s President Budiarsa Sastrawinata.
The latest order follows Vietjet’s commitment for 20 additional A330neo aircraft last month, bringing the airline’s total widebody aircraft on order to 40.
Minister of Finance Nguyen Van Thang acknowledged the target represents an important milestone for socio-economic development as well as a demonstration of the country’s aspiration for robust economic growth.
The price of E5 RON92 petrol is now capped at 20,631 VND (0.79 USD) per litre, up 1,169 VND from the previous adjustment, while RON95-III costs no more than 21,244 VND per litre, up 1,277 VND.
While German consumers are familiar with Vietnamese products such as coffee, seafood, tea, and spices, many other quality items remain relatively unknown in the market. The Selgros event not only helped introduce Bac Giang lychee to German consumers but also provided them with the opportunity to experience other Vietnamese agricultural products.
The article by Cuba’s Inter Press Service detailed how Vietnamese private enterprise Agri VMA leased 1,000 ha of land in Los Palacios district, Cuba’s westernmost province of Pinar del Río, for rice cultivation over a three-year period. The project’s first harvest in 2025 recorded an impressive yield of 7.2 tonnes per hectare, far exceeding the local average of 1.6 tonnes.
During the visit, office representatives held a working session with the Tipaza Chamber of Commerce and Industry and met with several prominent local businesses operating in key sectors including industry, agriculture, fisheries, food processing, chemicals, pharmaceuticals and plastics.
A Nordic delegation to Vietnam International Sourcing 2025 in September will feature leading names in retail, consumer goods, logistics, and sustainable manufacturing, including global fashion giant H&M, offering fresh prospects for partnerships in fashion, textiles, and green supply chains.
With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
Effective from the date of signing on June 18, the decision halts procedures outlined in the 2005 Memorandum of Understanding (MoU) between the governments of Vietnam and Laos on the initial implementation of the Greater Mekong Subregion (GMS) Cross-Border Transport Facilitation Agreement at the Lao Bao–Densavan border gate.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
Participants at the event (Photo: VNA) 
