Hue thanked Rasjid and KADIN for assisting Vietnamese agencies, ministries, and sectors to organise a forum on policies and laws to promote economic, trade, and investment cooperation in Jakarta.

He stressed the two countries boast very good political and diplomatic relations. The long-standing bilateral ties were set up by Presidents Ho Chi Minh and Sukarno, he said, adding that this is a stepping stone for the two nations to foster ties in economy, trade, and investment more strongly in the current period.

As there remains huge room for the countries’ cooperation, the two sides should keep strengthening economic, trade, and investment partnerships to generate more jobs for people and contribute to the development of each country, the NA Chairman went on.

Applauding the close cooperation between KADIN and the Vietnam Chamber of Commerce and Industry (VCCI), Hue asked them to continue tightening relations and create conditions for Vietnamese and Indonesian businesses to connect with each other, thereby sustaining existing supply chains and creating new ones with products that have high value added and match the strengths of the two countries.

Rasjid held that Indonesia and Vietnam still hold much potential for cooperation in consolidating regional supply chains, especially in digital transformation, innovation and energy transition; health care and the medical industry; food security to ensure farmers are not left behind; along with trade and investment through increasing intra-ASEAN investment to improve regional and global supply chains.

The ASEAN region has a total population of more than 650 million, including over 270 million in Indonesia and 100 million in Vietnam, therefore, this is a large market that needs to be further tapped into, he said.

The KADIN Chairman noted that if Indonesia and Vietnam can mobilise the strength of their business communities, the two countries can maintain and reinforce regional supply chains, thereby becoming important stakeholders in the region and the world.

NA Chairman Vuong Dinh Hue addresses the Vietnam-Indonesia Forum on Policies and Laws in Jakarta on August 5. (Photo: VNA)

On the same day, NA Chairman Vuong Dinh Hue attended and delivered a speech at the Vietnam-Indonesia Forum on Policies and Laws to promote the bilateral economic, trade and investment cooperation.

Hue affirmed that the Vietnamese legislature and Government always strive to concertedly perfect economic institutions and legal system in a unified, stable and feasible manner; and always accompany and consider the success of businesses and economic sectors, including FDI enterprises, as their own success. “That is a consistent message that Vietnam sends to the international business community, including those from Indonesia,” he stressed.

In the economic field, Indonesia is a leading important partner of Vietnam in the Asia-Pacific region. In the trend of strong restructuring of trade and investment flows on a global scale and in the current unstable and unpredictable world economic conditions, Vietnam and Indonesia can enhance trade facilitation for each other by not imposing non-tariff trade barriers, strengthening cooperation between businesses in maintaining existing supply chains, and forming new strategic ones in which both sides have strengths.

Accordingly, the two sides can create industrial products with high added values, strengthen collaboration in the fields of renewable energy, infrastructure investment, digital economy, circular economy, agriculture, fisheries, Halal industry and tourism, said the top legislator.

At the forum, the NA Chairman witnessed the signing of cooperation agreements between the Vietnam National Shipping Lines Corporation (Vinalines) and Indonesia’s PT Black Diamond Resources Tbk and PT Sinar Multi Surya Cemerlang; and between the Vietnam Ocean Shipping Joint Stock Company and PT Virema Impex Company of Indonesia.

On this occasion, Vietjet launched a direct air route linking Ho Chi Minh City of Vietnam with Indonesia’s Jakarta capital city. This is Vietjet's third direct air route to Indonesia, raising the total number of flights between the two countries to 84, starting in August 2023.