Chairman Vuong Quoc Tuan attends Business Dialogue "Vietnam and Indonesia: Partnership for Progress and Prosperity" in Indonesia

General Secretary To Lam (5th from left) and senior leaders of Vietnam and Indonesia attend the Dialogue.

The Dialogue 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.

Economic relations between Vietnam and Indonesia have improved significantly, with bilateral trade turnover expected to reach USD16 billion by 2024, growing 16% year on year, putting the bilateral trade target of USD18 billion ahead of schedule in 2028.  Vietnam-Indonesia investment collaboration has grown significantly.

General Secretary To Lam speaks at the dialogue.

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).

In his remarks, General Secretary To Lam emphasized 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 favored destination for investors and international tourists, he stated.

General Secretary 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. 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 mobilization of resources for important collaborative programmes and initiatives that benefit both sides.

Chairman Vuong Quoc Tuan (3rd from right) attends the dialogue.

The General Secretary 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 organizations 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 centers, biotechnology, and healthcare, he said, adding that these are sectors that Vietnam and Indonesia have potential for development and need investment attraction.

Overview of the dialogue.

The Party chief affirmed that Vietnam is committed to creating favorable 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, Lam shared.

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, General Secretary To Lam and delegates witnessed the signing ceremony and exchange of business cooperation documents between Vietnamese and Indonesian enterprises.