Party chief attends Vietnam – Indonesia business dialogue

General Secretary of the Communist Party of Vietnam (CPV) Central Committee To Lam attended a high-level business dialogue themed “A Partnership for Progress and Prosperity" in Jakarta on March 10 morning as part of his state visit to Indonesia and official visit to the ASEAN Secretariat there.

Jointly organised by the Vietnamese Ministry of Finance, the Vietnamese Embassy in Indonesia, the Indonesia-Vietnam Friendship Association, and Ciputra Group, the event saw the participation of senior officials and representatives of businesses and relevant agencies from both nations.

Participants highlighted the significance of the event as it coincides with the 70th anniversary of Vietnam-Indonesia diplomatic ties (1955–2025) and takes place in the context that the two sides look towards the elevation of their relations to a comprehensive strategic partnership.

The event highlighted the economic cooperation achievements, investment opportunities, and the strategic partnership between Vietnam and Indonesia in emerging fields such as artificial intelligence (AI), digital economy, green energy, electric vehicles, and the Just Energy Transition Partnership (JETP).

Delegates also explored cooperation in food security, the Halal industry, education, and maritime collaboration, reflecting the deepening ties between the two countries. They reaffirmed both nations' commitment to promoting sustainable growth, innovation, and regional cooperation, laying a foundation for a stronger future.

In his remarks, the Party chief emphasised that after nearly four decades of reform, opening, and integration, under the CPV’s comprehensive leadership, Vietnam has transformed itself from an underdeveloped nation into a symbol of stability and growth.

Vietnam has earned the trust of many world leaders as a reliable partner for peace and prosperity, and remained a favoured destination for investors and international tourists, he stated.

Lam affirmed that Vietnam’s achievements are rooted in patriotism, great national solidarity, self-reliance, and strong aspiration for independence, freedom, and happiness of the people.

These successes were made possible under the visionary leadership of the CPV, the decisive efforts of the entire political system, the active participation and support of the people and business community, as well as the assistance of international friends—including important contributions of the Indonesian government and businesses, he said.

There remains huge room for stronger cooperation between the two countries, driven by their intrinsic strengths and the momentum of their strategic partnership, he noted, stressing that this will enhance mutual consensus and facilitate the mobilisation of resources for important collaborative programmes and initiatives that benefit both sides.

Lam expressed his hope that Indonesian businesses will continue to grow and stay among the largest investors in Vietnam. He encouraged them to leverage their strengths and seize opportunities based on equality, mutual respect, and shared benefits, in alignment with the strategic relations between the two countries.

To achieve those goals, he urged the two countries’ ministries, sectors, and agencies to continue specifying major policies and directions of the bilateral relationship, promptly support and address difficulties and obstacles facing investors, while implementing solutions to improve business and investment environment towards transparency and openness.

He called on the Indonesian government to encourage Indonesian businesses to increase their investments in Vietnam while creating conditions and continuing to support Vietnamese investors in expanding their investment and business activities, especially in projects relating to science, technology, and innovation.

Both countries' business organisations and associations are expected to continue to serve as important bridges connecting business communities with the relevant authorities of both sides.

Investors from both countries will explore and expand investment in such sectors as science, technology, innovation, research and development; chip and semiconductor, AI, and Internet of Things (IoT) industries, new energy, like hydrogen, and renewable energy, fintech, financial centres, biotechnology, and healthcare, he said, adding that these are sectors that Vietnam and Indonesia have potential for development and need investment attraction.

The Party chief affirmed that Vietnam is committed to creating favourable conditions for effective investment and business activities, towards sustainable development goals of both sides.

The Party and State of Vietnam have always regarded the foreign investment sector as an important component of the national economy, contributing to the fundamental transformation of the economy, positively impacting the economic institution reform, improving investment and business environment, and enhancing Vietnam's reputation and position in international arena.

Accordingly, Vietnam always pays special attention and creates best possible conditions for the business community, including foreign-invested enterprises in Vietnam.

Under its foreign investment cooperation strategy, Vietnam has oriented towards a phase of selective cooperation, attracting foreign investment with focus on quality, efficiency, technology, and environmental protection as the main evaluation criteria.

The Party, State, and people of Vietnam are committed to always accompanying, listening to, and hoping to continue receiving support and close cooperation from international partners, investors, especially Indonesian ones, Lam said.

On this occasion, Lam and the delegates witnessed the signing and exchange of business cooperation documents between the two countries’ agencies and businesses in areas, including education and training, green transition, green financing, real estate, smart urban areas, industrial zones, logistics, digital transformation, and cybersecurity services, and hi-tech agriculture.

Vietnam and Indonesia have witnessed the fruitful development of the bilateral relations over the last seven decades, with economic cooperation as a core pillar. The two-way trade hit 16 billion USD in 2024, up 16% compared to the previous year, putting the two countries on track to achieve their 18-billion-USD trade target ahead of the projected 2028 deadline./.