Indonesia Invites Vietnamese Investors for EV, Green Industry, and Food Security Opportunities
Jakarta. Industry Minister Agus Gumiwang Kartasasmita is inviting Vietnamese investors to invest in the electrical vehicle (EV), green industry, and food security sector in Indonesia.
"We invite the Ministry of Industry and Trade of Vietnam to continue the dialogue with us to strengthen this cooperation and collaboration," said Minister Agus as quoted from news agency Antara on Friday.
Minister Agus met with Vietnam's Minister of Industry and Trade, Nguyen Hong Dien, in Hanoi on Thursday, as part of President Joko "Jokowi" Widodo's state visit agenda to Vietnam.
Agus explained that Indonesia has a vast automotive market potential, with vehicle ownership reaching 19.1 million units of cars and 128 million units of motorcycles.
VinFast Auto Ltd., a Vietnam-based automotive company, has revealed its intention to build an electric vehicle assembly plant in Bekasi, West Java. The Bekasi facility is designated to be VinFast’s primary regional production hub for right-hand drive electric vehicles (EVs).
As of November 2023, Indonesia's investment in Vietnam has reached $651.21 million (Rp 10.13 trillion) with a total of 120 projects. Indonesia ranks 5th among ASEAN countries in terms of investment in Vietnam.
Meanwhile, Indonesia is one of Vietnam's main investment destinations in the industrial sector. In 2023, there was a 6.1 percent increase in Vietnam's investment in Indonesia compared to the previous year. This investment involves sectors such as paper and printing industries, as well as basic metals, non-machinery metal products, and equipment.
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