automotive

Indonesia And Vietnam Aim For Cooperation Worth IDR 294 Trillion, Including The Automotive Sector

President Prabowo Subianto and Secretary General of the Central Committee of the Communist Party of Vietnam (CPV) Tô Lâm agreed to upgrade bilateral relations to a Comprehensive Strategic Partnership. This agreement was reached in a bilateral meeting at the Merdeka Palace in Jakarta on Monday (10/3). Tô Lâm's visit this time coincided with 70 years of diplomatic relations between Indonesia and Vietnam. In this meeting, the two countries committed to strengthening cooperation in various sectors such as politics, economy, education, science, and people-to-people relations. Prabowo said that economic cooperation is one of the main focuses to encourage growth in both countries. Both countries are committed to achieving a bilateral economic cooperation target of US$ 18 billion dollars or around Rp. 294.6 trillion by 2028. "We are confident that this will bring prosperity to both of our peoples," said Prabowo. The commitment is manifested in three cooperation documents exchanged in the presence of the two heads of state, namely: 

1. Letter of Intent (LoI) in Cooperation on Capacity Building in the Technical and Digital Economy Sector shown by the Coordinating Minister for Economic Affairs of the Republic of Indonesia and the Minister of Industry of Vietnam; 

2. Letter of Intent (LoI) on Cooperation in the Science and Technology Sector shown by the Minister of Higher Education, Science, and Technology of the Republic of Indonesia with the Minister of Science and Technology of Vietnam; and 

3. Implementing arrangement in Aquaculture Cooperation shown by the Minister of Fisheries and Marine Affairs of the Republic of Indonesia and the Deputy Minister of Environment of Vietnam. 

In addition, Indonesia also welcomes investment from Vietnam in various sectors, including automotive, agriculture, and food security. According to Prabowo, this cooperation is not only beneficial for both countries but also has the potential to help global food security. "This will help both countries improve food security. And we can even be contributors to world food," he said. In addition to trade and investment, economic cooperation will be expanded to the fisheries sector, digital economy, green economy, and high-tech industry. 

Tag: Automotive Sector Indonesia Prabowo Subianto Vietnam