Computers and electronic products take lead in term of export turnover to Indonesia

Within the framework of the Forum, the business community was updated with information about the Indonesian market.

At the Indonesia-Vietnam Business Forum, co-organized by the Consulate General of the Republic of Indonesia in Ho Chi Minh City and the Ho Chi Minh City Branch of the Vietnam Chamber of Commerce and Industry (VCCI-HCM) on September 26th, Indonesian Consul General in Ho Chi Minh City, Agustaviano Sofjan, emphasized the deep cooperation between Indonesia and Vietnam in trade, investment, and tourism.

Typically, Indonesia is Vietnam's third-largest trading partner in ASEAN, and Vietnam is Indonesia's fourth-largest. As of June 2024, Indonesia ranks 30th out of 146 countries and territories investing in Vietnam with 115 projects and a total registered capital of over US$662 million.

In the coming years, Vietnam and Indonesia have affirmed their commitment to developing a new Action Plan for the 2024-2028 period, aiming to increase bilateral trade to US$18 billion by 2028. To achieve this goal, the two countries will promote diverse trade and investment promotion activities, support businesses in connecting and trading, and remove trade barriers and market access restrictions.

Indonesia aims to expand business cooperation with Vietnam in many fields such as high-tech industry, agriculture, and fisheries. For the high-tech industry, Indonesia will create favorable conditions and organize a series of events to connect businesses from both countries, Mr. Agustaviano Sofjan affirmed.

Nguyen Huu Nam, Deputy Director of VCCI-HCM, said that Vietnamese goods are increasingly consolidating their position in the Indonesian market, with export values growing continuously over the periods. Among them, the group of computers, electronic products, and components ranks first in terms of export turnover to Indonesia.

In addition, Vietnam also has many successful investment projects in Indonesia such as Vingroup and Blue Electronics. The governments of the two countries continue to encourage and facilitate businesses to expand cooperation in new areas, including the digital economy, green economy, energy transition, and development of electric vehicle and battery ecosystems. At the same time, many promotion agencies of the two countries are also expanding cooperation programs within the framework of the Just Energy Transition Partnership (JETP); strengthening cooperation in Halal, food security, and other fields.

At the Forum, the business community was updated on the Indonesian market in general and the Trade Expo Indonesia in particular. The Trade Expo Indonesia is Indonesia's largest international trade exhibition held annually with many fields and products, focusing on direct trade connection activities between Indonesian businesses and foreign partners.