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

During the visit, President Widodo emphasized the strong economic and trade ties with Prime Minister Pham Minh Chinh. Indonesia is now Vietnam’s third-largest trade partner, while Vietnam ranks as Indonesia’s fourth-largest partner in ASEAN. One of the visit’s key goals is to boost bilateral trade turnover to USD 15 billion in the near term and reach USD 18 billion by 2028. The high-level dialogue between the two leaders addressed business concerns, economic development policies, investment cooperation, and future trends.

Both leaders shared a vision of their nations achieving high-income status by 2045. Prime Minister Pham Minh Chinh welcomed Indonesian businesses to Vietnam, urging investments in emerging sectors. Vietnam committed to providing favorable conditions for stable, long-term business, with an emphasis on open policies, infrastructure improvements, and the protection of business rights.