Vietnam promotes trade, tourism, investment cooperation with Indonesia

09:07 | 10/08/2019 Vietnam - Asean

Da Nang City People's Committee coordinated with the Indonesian Embassy in Hanoi to organise a business forum named “Promotion of Indonesia Trade, Tourism and Investment in Vietnam”, on August 5, in Da Nang city.

At the event

The event is part of the Da Nang International East-West Economic Corridor (EWEC) Trade and Tourism Fair 2019.

Vietnam and Indonesia have established a strategic partnership since June 2013. Indonesia is currently the fourth largest trading partner of Vietnam in ASEAN. Indonesia is known as an open market, with a diverse range of goods, attractive to businesses of Vietnam in general and Da Nang in particular.

Speaking at the forum, Vice Chairman of Da Nang People's Committee Ho Ky Minh said that , in recent years, with preferential policies and open mechanism, which aim to attract investment, promote trade, expand economic exchanges and create favorable conditions to encourage all economic sectors, Da Nang has achieved remarkable achievements in import and export activities. Da Nang’s export turnover in 2018 was estimated at US$ 1.6 billion, with an average increase of 12.2% per year in the period from 2011-2018; import turnover in 2018 was estimated at US$ 1.4 billion, with an average increase of 8.6% per year in the 2011-2018 period.

However, for the Indonesian market, the export turnover of Da Nang to Indonesia is quite modest, about US$ 300,000 per year, with the main export being items such as handicrafts, finished rubber products, and children’s toys. Therefore, it is necessary to strengthen trade, tourism and investment promotion and connect trade between Da Nang enterprises and Indonesian enterprises.

The forum aims to promote bilateral trade between Indonesia and Vietnam so that the two sides can approach, study, seek opportunities and promote business cooperation in the coming time.

Theo NDO