During the state visit of Indonesian President Joko Widodo to Vietnam on January 12 – 13, 2024, Mr. Budiarsa Sastrawinata, the Chairman of the Indonesia-Vietnam Friendship Association and Managing Director of Ciputra Group, joined him in meetings and business dialogues. Ciputra Group has developed CIPUTRA HANOI International City consisting of residential buildings, schools, parks, a clubhouse, retail areas, a luxury hotel, and high-rise office buildings over 301 hectares aiming to enhance the quality of life for an expected future population of 50,000 residents.

During the visit, President Joko Widodo highlighted the robust economic and trade cooperation with Prime Minister Pham Minh Chinh. Indonesia is now Vietnam’s 3rd largest trade partner, and Vietnam is Indonesia’s 4th largest in ASEAN. One of the objectives of the visit is to elevate bilateral trade turnover to 15 billion USD soon and 18 billion USD by 2028. High -Level Dialogue between the two countries addressed business concerns, economic development policies, investment cooperation, and future trends.

Both leaders shared a vision for their countries to achieve high-income status by 2045. Prime Minister Pham Minh Chinh welcomed Indonesian businesses in Vietnam, encouraging investments in emerging sectors. Vietnam pledges favorable conditions for stable, long-term business, emphasizing an open policy, infrastructure improvement, and protection of businesses’ rights.