Cement producer Semen Indonesia is a shareholder in Thang Long Cement JSC. Photo credit: VnExpress
Executives from Indonesia’s top 200 businesses will attend a trade promotion event in Hanoi next week to explore investment opportunities in Vietnam, Indonesian ambassador Mayerfas has said.
Most of the businesses attending the 2015 Indonesia Trade Fairs and Business Forum on December 10-12 have never invested in this country, he said at a press conference.
Since Indonesian businesses do not prefer to operate on their own overseas, they would look for local partners in Vietnam too, he said.
They would also look to collaborate with Vietnamese companies for projects in Indonesia, he said.
Though the event will cover a variety of sectors ranging from automobile to banking, the ambassador believed agricultural partnerships have the best chance to succeed.
With a population of 250 million whose staple diet is rice, Indonesia has massive demand for the grain, but local supply falls short and is often troubled by natural disasters, he said.
Last year Indonesia bought more than $100 million worth of rice from Vietnam, and recently signed a deal for one million tons.
Its coffee imports from Vietnam are forecast to increase in the coming years from around $50 million worth last year, the envoy said. Many coffee shops in his country now sell Vietnamese products, which have become popular, he noted.
Bilateral trade was estimated at $5.86 billion last year, up 14.6 percent year on year, and is expected to hit $10 billion by 2018.