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Indonesia’s state-owned surveyor eyes Vietnamese market

thejakartapost.com, JAKARTA—State-owned surveyor PT Surveyor Indonesia is looking into the possibility of entering Vietnam next year, following in the footsteps of state-cement producer PT Semen Indonesia (SI).

PT Surveyor Indonesia president director Dian M. Noer said he had been inspired by Semen Indonesia’s successful expansion into the country, which began when it acquired majority shares of a Vietnamese cement factory in 2012.

He expressed the hope that PT Surveyor Indonesia could work with Semen Indonesia to enter the Vietnamese market.

“The market is there, so why not just work with a fellow state-owned enterprise? This cooperation can benefit both Surveyor and SI,” he said on Friday as reported by kompas.com.

He said Semen Indonesia had, so far, agreed to hire Surveyor for factory safety and quality control inspections, thereby replacing a Vietnamese inspection company.

Dian said Vietnam “offered a bright opportunity” for his company to expand into Southeast Asia and, ultimately, to the rest of the world.

Semen Indonesia and Surveyor Indonesia’s choice of Vietnam as a stepping stone reflects the country’s accelerating globalization that began when it opened up a cheap labor market to foreign investors in the 1980s.

According to a 2017 World Economic Forum report, Vietnam’s trade value is at 200 percent of its gross domestic product (GDP), which is five times higher than Indonesia and closer to the 300 percent of small powerhouses such as Singapore, Hong Kong and Luxembourg. (Humas)