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Investing $1.2 Billion, VinFast Ready to Build Battery Factory in Indonesia

by Redaksi Asiatoday
January 13, 2024
in Business
Reading Time: 1 min read
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Investing $1.2 Billion, VinFast Ready to Build Battery Factory in Indonesia

VinFast industrial area. Doc

ASIATODAY.ID, JAKARTA – The President of the Republic of Indonesia, Joko Widodo (Jokowi) appreciated VinFast’s investment commitment worth $1.2 billion to build an electric car battery factory in Indonesia.

Jokowi conveyed this during a bilateral meeting with Chairman of the Vietnamese National Assembly Vuong Dinh Hue in the Lotus Room, National Assembly, Hanoi, Vietnam, on Friday, January 12 2024.

“I hope for Your Excellency’s support to encourage policies to accelerate the energy transition and independence of the renewable energy industry as well as the realization of joint EV battery production between VinFast and PT IBC,” he said, quoted on the Presidential Secretariat website.

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Apart from that, the meeting also discussed Indonesia-Vietnam fisheries cooperation. Jokowi hopes for parliamentary support to launch the ratification process and encourage the government to complete negotiations. It is hoped that this can result in concrete cooperation through an MoU on Fisheries Cooperation that prioritizes international law and respective national laws.

Finally, the 7th President of Indonesia and the Chair of the Vietnamese Assembly also discussed inter-parliamentary cooperation. During the meeting, Jokowi appreciated the MoU on Inter-Parliamentary Cooperation and hoped that this commitment could improve the partnership between the two countries.

“I welcome the MoU on Inter-Parliamentary Cooperation and hope to strengthen partnerships through exchanging information, increasing capacity and exchanging delegations between parliaments,” concluded Jokowi. (AT Network)

Check out other news and articles at Google News

Tags: Electric Vehicle IndustryVinfast Vietnam
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