Viet Nam and Indonesia sets a target of US$10 billion in trade by 2018. — Photo vietnamexport.com

HA NOI (Biz Hub) — Indonesian firms are interested in exploring business and investment opportunities in Viet Nam as the two countries strengthen their economic partnership, according to Jean Anes, Indonesian Consul General to HCM City.

Viet Nam and Indonesia had set a target of US$10 billion in trade by 2018. Both countries were active in efforts to remove tariff barriers to boost trade, service and tourism links, Anes noted at a business connection forum in HCM City.

Farah Ratnadewi Indriani, deputy head of the Indonesia Investment Co-ordinating Board, said Indonesia was currently improving its investment environment and calling for foreign investors with attractive preferential policies.

Foreign investors in Indonesia would enjoy tax exemptions for between five and 20 years, she said, adding that the country was implementing administrative reforms with one-stop-shop models and reducing the time needed to grant investment licences to three days.

She also said potential sectors awaiting investors included infrastructure, agriculture, seaports, tourism and mining.

At the same time, Ho Xuan Lam, deputy head of the HCM City Trade and Investment Promotion Centre, said businesses in both countries were expanding their trade and investment partnerships in various fields.

In the first nine months of this year, bilateral trade reached nearly $3.5 billion, up 6 per cent over the same period last year, he said. — VNS