ASIATODAY.ID, JAKARTA – Indonesian Minister of Industry, Agus Gumiwang Kartasasmita invited Vietnam to work together in developing the electrical vehicle (EV) sector, green industry, food security, as well as support for the industrial sector such as increasing research and development and human resources.
This was conveyed by Minister Agus in a meeting with the Minister of Industry and Trade of Vietnam, Nguyen Hong Dien, in Hanoi on Thursday, January 11 2024.
“We invite the Ministry of Industry and Trade of Vietnam to continue dialogue with us to strengthen this collaboration,” said Agus in a statement quoted on Friday, January 12 2024.
Agus explained that Indonesia has huge automotive market potential, with vehicle ownership reaching 19.1 million cars and 128 million motorbikes. Apart from that, the projected demand for batteries for electric vehicles in Indonesia is also expected to continue to increase.
Minister Agus hopes that Indonesia and Vietnam can support each other in holding the Industrial Ministerial Meeting in ASEAN which is held every year, considering the increasingly visible opportunities and challenges in the industrial sector.
Indonesia is currently ranked in the top 10 in global manufacturing production with a global manufacturing output value of 1.4%, based on a report from Safeguard Global. Meanwhile, according to World Population Review data, Indonesia is ranked 12th, while Vietnam is in 23rd position.
As of November 2023, Indonesian investment in Vietnam has reached $651.21 million with a total of 120 projects. Indonesia is ranked 5th among ASEAN countries in terms of investment in Vietnam.
Meanwhile, Indonesia remains an investment destination for Vietnam in the industrial sector. In 2023, there will be an increase in Vietnamese investment in Indonesia by $1.5 million or an increase of 6.1% compared to the previous year. Vietnam invests in the industrial sector, such as the paper and printing industry, as well as the basic metals, metal goods, non-machinery and equipment industries. (AT Network)
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