Vietnam, Indonesia step up investment and tourism co-operation

The function was jointly held by the Vietnamese Embassy in Indonesia along with the Indonesia-Vietnam Friendship Association, attracting the participation of 150 businesses from both countries.

Upon addressing the webinar, Vietnamese Ambassador to Indonesia Pham Vinh Quang emphasised that the event is being ran for the purpose of providing updated information on regulations and policies that are relevant for businesses from the two nations.

Indeed, it offers a platform in order to share experience in attracting trade and investment whilst boosting co-operation opportunities in the tourism industry, a sector that has suffered due to the COVID-19 pandemic.

Ambassador Quang noted that now is the right time for businesses and investors from both sides to take full advantage of the incentives being put forward by the Vietnamese and Indonesian governments and move to intensify trade exchanges, ramp up investment and tourism activities in an effort to revitalize each nation’s economy, and further deepen the relationship between both sides.

Last year saw two-way trade turnover reach US$9.1 billion, making the nation one of Indonesia's largest trading partners. Indeed, despite the COVID-19 epidemic causing a global economic downturn, bilateral turnover reached a figure of US$5.01 billion.

Most notably, Indonesia has invested US$589.98 million in 92 projects nationwide, ranking 28th in the list of foreign investors making investments in the nation.

Furthermore, national flag carrier Vietnam Airlines and budget-airline and VietJet Air have launched several direct flights from Ho Chi Minh City to Jakarta and Bali, both of which have contributed to increasing the number of the two countries' travelers.