State President Nguyen Xuan Phuc proposed that the Indonesian Chamber of Commerce and Industry (KADIN) encourage Indonesian businesses to pour investment into Vietnam in a meeting with KADIN Chairman Arsjad Rasjid in Jakarta on December 23.

President Phuc said two-way trade of $13 billion remains low, and the two countries’ enterprises should learn more about their respective markets.

Vietnam has joined many free trade agreements (FTAs), including new-generation agreements with high standards, he added, describing this as an opportunity for Indonesian enterprises.

Administrative reform is also being stepped up to create open policies for investors.

Mr. Rasjid, meanwhile, said there remains space for businesses in the two countries to cooperate in the fishery and automobile industries, and the chamber will encourage Indonesian enterprises to invest in these fields.

He also expressed a hope of more Vietnamese investments coming to Indonesia, so that products from both countries can more intensively take part in global supply chains.

On the same day, President Phuc met with Albert, the co-founder of Traveloka, a leading Southeast Asian online travel company, during which he called on the company to expand its cooperation in Vietnam.