Indonesia is seeking Vietnamese investment, especially in the fishing and seafood processing sectors in which it has great potential.
At the Vietnam – Indonesia Business Meeting held in HCM City on June 22 by the Indonesian Consulate General, Indonesian and Vietnamese delegates said Indonesia's waters have huge fish stocks.
The country, made up of more than 13,000 islands and with a large demand for fishing and other vessels, is also looking for investment from Vietnamese firms in ports, shipping, and shipbuilding.
Besides, the mining and oil exploration industries also offer much promise.
The meeting was chaired by Indonesian Ambassador Mayerfas – who goes by one name – who took charge just a few months ago and was visiting HCM City for the first time.
Bambang Tarsanto, the Indonesian Consul General in HCM City, said: "The basis of good co-operation between two countries is the need to complement one another, therefore we need to widen our businesses sectors to improve the prosperity of our people."
Mohamach Abdoula, an Indonesian businessman with interests in fisheries and agriculture, said his country wants Vietnamese investment but large fishing enterprises have so far ignored Indonesia.
Only some small Vietnamese fishing firms wanted to invest, he added.
Tarsanto said Vietnam and Indonesia target trade of 5 billion USD before 2015.
The Indonesian diplomats said ties have been moving to a higher level since 2003 when the two nations signed a declaration for a framework of friendly and comprehensive partnership.
With a large and affluent population and abundant natural resources, Indonesia was a promising market as well as investment destination for Vietnam, Tarsanto said.
Indonesia, which achieved 6.3 percent economic growth last year, has a GDP of around 1 trillion USD and per capita income of 3,400 USD.