Prime Minister Pham Minh Chinh and Indonesian President Joko Widodo agreed to consider lifting the Vietnam - Indonesia strategic partnership to a new level during their meeting in Hanoi on January 12.

They agreed to work together to raise bilateral trade to $15 billion and then $18 billion by 2028, facilitate and encourage the two countries’ businesses to invest in each other’s markets, and expand cooperation to new areas such as AI, the digital economy, the green economy, renewable energy, and an electric vehicle (EV) and EV battery ecosystem.

They will also expand cooperative programs within the framework of the Just Energy Transition Partnership (JETP), enhance ties in the Halal industry, boost links in ensuring food security, and promote the signing of a deal on rice trading.

Indonesian investment in Vietnam rose 37 per cent year-on-year in the first eleven months of 2023, with total registered capital of over $1 billion.

Two-way trade turnover hit $13 billion in the period.