Vietnam – Indonesia exploit potential for multi-field economic cooperation

Photo caption — Dr. Nguyen Phuc Nam, Deputy Director of the Department of International Market Development, Ministry of Industry and Trade of Vietnam, spoke at the event. Photo: Minh Thai/VNA

The event creates an open forum for government agencies, business associations and enterprises of both countries to exchange views and information on policies, regulations, market access and is an opportunity to connect potential cooperation projects in many fields, including pharmaceuticals and medical equipment, between Indonesia, Vietnam and other global markets.

Speaking at the event, Dr. Nguyen Phuc Nam, Deputy Director of the Department of International Market Development, Ministry of Industry and Trade of Vietnam, emphasized the potential in the bilateral economic relationship between Vietnam and Indonesia is diverse and multi-field.

He proposed four main directions of cooperation to promote Vietnam-Indonesia bilateral economic relations.

Firstly, enhancing policy dialogue and harmonizing regulations between the two governments in the fields of trade and investment; promoting digitalization of import-export procedures, towards building an ASEAN Smart Customs System.

Second, encourage businesses of the two countries to cooperate in production in high value-added industries such as pharmaceuticals, medical equipment, agricultural and food processing, electronics, green energy and logistics.

Third, promote business-to-business (B2B) connections through specialized fairs, digital platforms and innovation programs, creating conditions for small and medium-sized enterprises (SMEs) to access cooperation opportunities.

Fourth, strengthen human resource development, expert exchange and technology transfer, especially in smart manufacturing, logistics and supply chain management.

Mr. Nguyen Phuc Nam emphasized that the two governments are implementing goals such as green growth, circular economy, digital transformation, which have created many opportunities for businesses on both sides to promote cooperation. At the same time, the two countries are also members of the ASEAN Trade in Goods Agreement, the ASEAN Free Trade Agreement plus one with partners and the Regional Comprehensive Economic Partnership (RCEP). This is a favorable legal foundation for businesses to exploit and promote trade and investment cooperation activities.

The thematic discussion session at the forum focused on cooperation between the two countries in the field of pharmaceuticals and medical equipment, such as: Opportunities and challenges in international cooperation in the health sector; Promoting cross-border partnerships in the health sector.

Ms. Febie Yoenza, Vice President of the Indonesian Medical Equipment Manufacturers Association (ASPAK), said that there is a lot of potential for cooperation between the two countries. First of all, Indonesia has the opportunity to export to Vietnam. In addition, Vietnam has a number of very innovative medical equipment industries, such as the cardiac stent manufacturing industry and the advanced software industry. Thus, Vietnam has the opportunity to transfer technology to the medical equipment industry in Indonesia. In addition, the two countries also have opportunities for research and development cooperation between businesses and universities or research and development institutes.

Source: https://baotintuc.vn/kinh-te/viet-nam-indonesia-khai-thac-tiem-nang-hop-tac-kinh-te-da-linh-vuc-20251016220651123.htm