Tuesday, April 16, 2024

Indonesia invites Vietnam for collaboration in green industry, EV

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Indonesia’s Minister of Industry, Agus Gumiwang Kartasasmita, has invited Vietnam to collaborate in various areas, including green industry, food security, research and development, human resources in the industrial sector, and electric vehicles. The invitation was extended during his meeting with Vietnam’s Minister of Industry and Trade, Nguyen Hong Dien, in Hanoi, on Thursday, January 11, 2024.

The visit is part of Minister Agus’s agenda accompanying Indonesian President Joko Widodo on a state visit to Vietnam.

“We invite the Ministry of Industry and Trade of Vietnam to continue discussions with us to strengthen this collaboration,” stated Minister Agus.

He highlighted Indonesia as a significant market for the automotive sector, citing data showing that Indonesia has 19.1 million cars and 128 million motorcycles. Additionally, the demand for electric vehicle batteries in Indonesia is expected to increase in the future.

Minister Agus expressed hope for mutual support between the two countries in organizing the ASEAN Ministerial Meeting on Industry, held annually, to address the opportunities and challenges in the industrial sector.

According to a report by Safeguard Global, Indonesia is currently among the top 10 global manufacturers, contributing 1.4 percent to the global manufacturing output. Meanwhile, data from the World Population Review ranks Indonesia 12th and Vietnam 23rd in terms of manufacturing output.

As of November 2023, Indonesia’s investment in Vietnam reached $651.21 million across 120 projects, making Indonesia the fifth-largest ASEAN investor in Vietnam. Indonesia remains one of Vietnam’s investment destinations, particularly in the industrial sector.

In 2023, Vietnam’s investment in Indonesia increased to US$ 1.5 million (IDR 23 billion), a 6.1 percent rise compared to the previous year. This investment covered industries such as paper and printing, as well as basic metals, metal products, non-machinery, and equipment.

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