Businessmen want to invest in Vietnam
JAKARTA (JP): Many Indonesian businessmen are interested in investing in Vietnam, which is regarded as an emerging country in Southeast Asia, Chairman of the Indonesian Chamber of Commerce and Industry (Kadin) Aburizal Bakrie said.
"Indonesian investors want to invest mainly in infrastructure facilities, including telecommunications projects, in Vietnam," he told reporters after a luncheon meeting presenting Vietnamese Minister of Trade Le Van Triet as a speaker at the Aryaduta Hotel here yesterday.
The minister will accompany Vietnamese President Le Duc Anh, who arrived here yesterday, during a four-day state visit. Visiting Vietnamese delegation also includes Minister of Agriculture and Foodstuffs Industry Nguyen Cong Tan and Director General of Tourism Do Quang Trung.
Aburizal, who is more commonly known by his nickname, Ical, said many domestic businessmen are conducting feasibility studies for doing business in Vietnam.
"Even though Indonesian businessmen are not foreign investment-minded, they realize there are wide opportunities for doing business in Vietnam," he said, adding that the number of companies planning to invest in Vietnam is increasing.
Aburizal, who is also chairman of the Bakrie Group, said one of his companies, supported by Hughes System of the United States, has signed a memorandum of understanding with Datviet of Vietnam for cooperation in telecommunications projects in the Indochinese country.
Projects
There are currently nine Indonesian investment projects in Vietnam -- oil and gas, coal mining, banking, hotels, mineral water, motorcycle assembly, textile and garment manufacturing, poultry breeding and air service.
Indonesia is the 12th largest foreign investor in Vietnam with a total investment of US$159 million after Taiwan, Hong Kong, South Korea, Malaysia, Australia, France, Singapore, the Netherlands, Japan, Britain and the British Virgin Islands. Data from the Investment Coordinating Board (BKPM) show no Vietnamese investment in Indonesia.
According to the Central Bureau of Statistics, Indonesia's exports to Vietnam increased from $165.34 million in 1992 to $171.63 million in 1993 and its imports from that country rose from $32.42 million to $38.09 million during the same period.
Indonesia's Ambassador to Vietnam Djafar Assegaf, who was also present at the luncheon, told reporters that the two countries have interest in increasing economic ties.
At the luncheon, Le Van Triet promised that he will endorse simple bureaucratic procedures for foreign investments in his country.
Kadin's treasurer, B. Juan Gondokusumo, said he wanted to invest in the property business in Vietnam about two years ago but his license has not yet been fully processed.
"I find the bureaucracy is arduous there," he said, adding that his company, Globalindo Sentosa, will develop real estate in Vietnam. (icn)