Vietnam, Indonesia can cooperate to become regional economic locomotives: IVFA President

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.
Vietnam, Indonesia can cooperate to become regional economic locomotives: IVFA President ảnh 1Indonesia is Vietnam's important partner with great potential. (Photo: VNA)
Jakarta (VNA) – The upcoming statevisit to Indonesia by Vietnamese President Nguyen Xuan Phuc is very crucial forthe two countries to continue their discussion on how the two countries cansubstantially create synergy and cooperate with one another to become economicgenerators in the region, according to President of the Indonesia-VietnamFriendship Association (IVFA)'s President Budiarsa Sastrawinata.

Sastrawinata, who is also Director of Ciputra Group,told the Vietnam News Agency (VNA) ahead of President Phuc’s visit fromDecember 21-23, that many of Indonesian firms have come to Vietnam to exploreinvestment opportunities, noting that Indonesia has remained one of the largest ASEANcountries investing in Vietnam, mostly in oil and gas exploration andexploitation, coal mining, banking, hotel industry, wood processing and exporting,and garment.

He recalled that at a recent meeting between Indonesian PresidentJoko Widodo and PM Chinh, Widodo emphasised that Indonesia is committed tocontinue the establishment of mutually beneficial bilateral partnerships tobenefit the people of both countries such as strengthening cooperation in thehealth sector which is crucial since the pandemic has yet to end.

Sastrawinata stressed that since Vietnam and Indonesiaestablished diplomatic relations on December 30, 1955, the bilateraltraditional friendship have been built on the firm foundation laid by PresidentHo Chi Minh and President Sukarno and nurtured and developed by generations ofleaders and peoples of the two countries.

The two countries share many similarities, he said, explaining that both aremembers of the ASEAN, APEC and many other regional and international organisationsand forums.
Vietnam, Indonesia can cooperate to become regional economic locomotives: IVFA President ảnh 2Illustrative image (Source: VNA)
Indonesia is Vietnam's important partner with greatpotential, and it highly values Vietnam's role and position as one of thecountries with great influence in ASEAN. Vietnam and Indonesia have signed manycooperation agreements and treaties in various fields. Many bilateral cooperationmechanisms have also been established. Since Vietnam and Indonesia agreed tostrengthen cooperation on economy, trade, and investment, they have intensifiedtheir bilateral cooperation in recent times, he said.

“This reflects in the high intensity of bilateralrelations based on the Strategic Partnership of Indonesia and Vietnam in theSoutheast Asia region, increasing bilateral trade, strengthening cooperation ina number of other fields such as negotiations on the exclusive economic zonesof each country, eradicating illegal fishing, and cooperation to advance ASEAN,and enhance cooperation in both countries maritime sectors.” he noted.

On the other side, Indonesian entrepreneurs shouldoptimise new Vietnamese markets, he suggested, adding that in the next 10 to 20years, the increasing bilateral economic trade and investment relations betweenthe two countries will benefit both parties in the future.

Sastrawinata said the two nations share severalconditions that can support the enhancement of the relationship, including a hugepopulation, increasing economic achievements, rising purchasing power parity,and geographical closeness to other member states in ASEAN.

He suggested that more high-level government visitsfrom both countries are necessary to create better understanding betweenVietnam and Indonesia and to solve any issues arise as soon as possible.

“Indonesia will continue to encourage its businessesto capitalise on Vietnam's economic development,” he said. “Indonesia has alsoinvited a number of Vietnamese business groups to invest in Indonesia in variousfields such as fisheries, agriculture, and other export commodities.”

Nevertheless, the countries have not been able tomaximise their traditional relations and closeness towards concrete cooperation,especially in the economy and commerce, he pointed out.

More promotional activities are needed, heemphasised, adding that Vietnam's investment and tourism flows to Indonesia also need to be promoted. Meanwhile, Indonesian entrepreneurs have notyet fully taken advantage of the economic potential, market, and investmentopportunities offered by Vietnam and its government.

“The cooperation between the two countries shouldnot be limited to only big corporations but it also needs to involve SME's andstart-up companies which can take advantage of the current advancement ofdigital technology where cross-border cooperation has been made easier thesedays,” he proposed.

Culturally, both sides need to intensify theexchange of their national heritage by having more joint events that can helpthe tourism sector between the two countries to blossom.

People-to-people contact between Vietnam andIndonesia is very crucial, he said, pledging that his association will assistin promoting the people to people and government to government relationship.

Even during the COVID-19 pandemic, the bilateralstrategic partnership relationship was maintained and it is ensured that itwill develop faster and stronger for the sake of the national interests of thetwo countries, as well as maintaining regional peace, stability, and prosperityin the Southeast Asia region, Sastrawinata believed.

He held that as one of the fastest-growing economiesin the region, driven by export-oriented manufacturing, foreign directinvestment, and increasingly strong domestic demand, Vietnam is attracting theattention of investors worldwide.

Despite the disruptions over the past couple ofyears, many Indonesian companies are still eager to expand their footprint inVietnam, primarily through mergers and acquisitions, he said./. 
VNA

See more

Initiative to boost China, ASEAN city-level relations (Photo: en.gxzf.gov.cn)

Initiative to boost China, ASEAN city-level relations

Mayors of 12 cities, together with representatives and experts, from China and ASEAN countries gathered in Nanning city, south China's Guangxi Zhuang Autonomous Region, for the Global Mayors Dialogue from January 15-18.

Vietnamese Ambassador to Uruguay Ngo Minh Nguyet and Vice President-elect Carolina Cosse (Photo: VNA)

Vietnam, Uruguay strengthen cooperation

Vietnam always remembers and thank for valuable assistance from the government and people of Uruguay during its past struggle for independence and national reunification as well as the ongoing integration and development process, said Vietnamese Ambassador to Uruguay Ngo Minh Nguyet.

Coordinating Minister for Food Zulkifli Hasan (center) delivers a speech at the National Working Meeting of Barantin in Jakarta on January 16, 2025. (Photo: Antara)

Indonesia focuses on technology to enhance quarantine systems

Indonesian Coordinating Minister for Food Zulkifli Hasan on January 16 called on the Indonesian Quarantine Agency (Barantin) to strengthen its human resources, upgrade laboratory facilities, and harness information technology to bolster the nation’s quarantine capabilities.

Chinese tourists flock to the Erawan Shrine in Pathumwan to pray for New Year's wishes. (Photo: bangkokpost)

Thailand adjusts target for Asian visitors

The Tourism Authority of Thailand (TAT) is revising its target for Asian visitors this year, focusing on potential markets to counter a decline in Chinese arrivals.

Speaker of the National Assembly Woo Won-shik (front row, centre) poses with ASEAN member nation envoys and government officials during a luncheon in Seoul. (Photo: Courtesy of Thai Ambassador Tanee Sangrat on X)

RoK reaffirms commitment to ASEAN-focused diplomacy

Speaker of the National Assembly of the Republic of Korea (RoK) Woo Won-shik has reaffirmed the country’s commitment to ASEAN-focused diplomacy and its active role in ASEAN-led mechanisms when he hosted a luncheon for diplomatic envoys from 10 ASEAN nations in Seoul on January 16.

App stores are also responsible for monitoring app content and are required to review apps and updates before they are released. (Photo: The Straits Times)

Singapore mandates age assurance for app stores

Singapore will soon require app stores to implement measures, including age verification, to enhance online safety, particularly for children, the Infocomm Media Development Authority (IMDA) announced on January 15.

Malaysia defines two priorities to ensure food security

Malaysia defines two priorities to ensure food security

The Malaysian Ministry of Agriculture and Food Security (KPKM) has set two major priorities for this year - reforming the national rice and paddy industry, and increasing productivity in the ruminant sector, particularly beef and buffalo meat production.

A screenshot of President Prabowo Subianto (left) at the Indonesia-Brazil business forum in Rio de Janeiro, Brazil, on November 17. (Photo: ANTARA)

BRICS – new key export market of Indonesia

Indonesia’s non-oil and gas exports to the five major BRICS nations reached 84.37 billion USD in 2024, accounting for nearly 34% of the country’s total non-oil and gas export value, according to the country’s Central Statistics Agency (BPS).

Thailand eases visa regulations to attract global citizens

Thailand eases visa regulations to attract global citizens

Thailand's Cabinet recently introduced updates to the qualifications, criteria, and conditions of the Long-Term Resident (LTR) Visa programme, aiming to attract a broader range of experts, investors, and executives to strengthen the country's foreign talent pool.

Philippine Foreign Secretary Enrique Manalo Enrique Manalo (right) and his Japanese counterpart Takeshi Iwaya at the news conference in Manila on January 15. (Photo: Kyodo/VNA)

Philippines, Japan agree to promote security cooperation

Philippine Foreign Secretary Enrique Manalo Enrique Manalo and his Japanese counterpart Takeshi Iwaya on January 15 agreed to continue communication with the incoming US administration of President-elect Donald Trump to promote their trilateral relationship.