JAKARTA — General Secretary of the Communist Party of Việt Nam (CPV) Central Committee Tô Lâm affirmed that Việt Nam will create favourable conditions in investment and business activities for Indonesian enterprises.

His remarks came at a business dialogue themed 'A Partnership for Progress and Prosperity' in Jakarta on March 10 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 Việt Nam Embassy in Indonesia, the Indonesia-Việt Nam Friendship Association, and Ciputra Group, the event saw the participation of senior officials and representatives of businesses and agencies from both nations.

The meeting highlighted the economic cooperation achievements, investment opportunities, and the strategic partnership between Việt Nam and Indonesia in emerging fields such as artificial intelligence (AI), the 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 speech, General Secretary Tô Lâm highlighted that after nearly four decades of reform and integration, Việt Nam had had remarkable transformation from an underdeveloped country to one with stable and growing economy.

Việt Nam remained a favoured destination for investors and international tourists, he said.

He credited the Communist Party of Việt Nam’s leadership, the support of the people and the cooperation of international partners - including Indonesian businesses and government - as key factors in this success.

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

The General Secretary expressed his hope that Indonesian businesses would continue to grow to become one of the largest investors in Việt Nam.

He encouraged them to leverage their strengths and seize investment and business opportunities.

To achieve those goals, Lâm urged both governments and their relevant agencies to provide support for investors and address challenges in the business environment, with a focus on transparency and openness.

He called on the Indonesian government to encourage Indonesian businesses to increase their investments in Việt Nam 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 were expected to continue to serve as important bridges connecting business communities with the relevant authorities of both sides.

Investors from both countries would 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 were sectors that Việt Nam and Indonesia have potential for development and need investment attraction.

The Party chief affirmed Việt Nam's commitment to creating favourable conditions for effective investment and business activities, towards sustainable development goals of both sides.

Việt Nam had 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 Việt Nam's reputation and position in the international arena.

Accordingly, Việt Nam always paid special attention and created best possible conditions for the business community, including foreign-invested enterprises in Việt Nam. Under its foreign investment cooperation strategy, Việt Nam had oriented towards a phase of selective cooperation, attracting foreign investment with focus on quality, efficiency, technology, and environmental protection as the main evaluation criteria.

Việt Nam was committed to always accompanying, listening to, and hoping to continue receiving support and close cooperation from international partners, investors, especially Indonesian ones, Lâm said.

On this occasion, Lâm 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 and green financing, real estate, smart urban areas, industrial zones, logistics, digital transformation and cybersecurity services, and hi-tech agriculture.

Việt Nam 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 US$16 billion in 2024, up 16 per cent compared to the previous year, putting the two countries on track to achieve their $18-billion trade target ahead of the projected 2028 deadline. — VNS