Monday, July 24, 2017 - 3:38:10

Vietnam, Indonesia forge stronger economic connections

VNA Print

Indonesian firms are interested in exploring business and investment opportunities in Vietnam as the two countries strengthen their economic partnership, according to Jean Anes, Indonesian Consul General to Ho Chi Minh City.

Vietnam and Indonesia have set a target of 10 billion USD in trade by 2018. Both countries are active in efforts to remove tariff barriers to boost trade, service and tourism links, Anes noted at a business connection forum in Ho Chi Minh City.

Meanwhile, Farah Ratnadewi Indriani, Deputy Head of the Indonesia Investment Coordinating Board, said that Indonesia is currently improving its investment environment and calling for foreign investors with attractive preferential policies.

Foreign investors in Indonesia will enjoy tax exemptions for 5-15 years or even 20 years, she said, adding that the country is implementing administrative reforms with one-stop-shop models, reducing the investment licence granting duration to only three days.

She also revealed that potential sectors awaiting investors include infrastructure building, agriculture, seaport, tourism and mining.

At the same time, Ho Xuan Lam, Deputy Head of the Ho Chi Minh City Trade and Investment Promotion Centre, said that together with Indonesia and Vietnam’s effort to promote trade liberalisation and economic integration, businesses of both countries are expanding their trade and investment partnerships in various fields.

In the first nine months of this year, bilateral trade reached nearly 3.5 billion USD, up 6 percent over the same period last year, he noted.-VNA
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