Vietnam-Indonesia Export Consultation... Strengthening Korea-Southeast Asia Smart City Cooperation Foundation

KOTRA Hosts 'Roadshow' in Smart City and ICT Sectors

KOTRA announced on the 16th that it held the '2024 Southeast Asia Smart City Roadshow' in Hanoi, Vietnam, and Jakarta, Indonesia. The event took place on the 14th in Hanoi and on the same day in Jakarta.

The consultation event of the '2024 Southeast Asia Smart City Roadshow' held in Hanoi, Vietnam on the 14th, hosted by the Ministry of Trade, Industry and Energy and KOTRA. [Photo by KOTRA]

The event was attended by 18 domestic information and communication technology (ICT) companies hoping to enter the Southeast Asian market, along with 65 local buyers and clients. Held as part of the Ministry of Land, Infrastructure and Transport's smart city export support project, the roadshow consisted of market briefings, one-on-one business consultations, and a Korea-Indonesia cooperation forum.

At the Hanoi event, a briefing session on strategies for entering the Vietnamese ICT market was held. Local smart city experts were invited. About 35 promising local buyers and clients, including Vietnam Posts and Telecommunications Group (VNPT) and Mobifone, participated. Over 80 business consultations were conducted.

At the Jakarta event, a Korea-Indonesia cooperation forum was held with officials from the Indonesian Ministry of Finance and the IT & ICT Business Association in attendance. More than 30 promising Indonesian buyers and clients, including the Jakarta and Semarang local governments, state-owned construction company Hutama Karya, and PLAN, participated, conducting over 80 business consultations.

Vietnam Hanoi '2024 Southeast Asia Smart City Roadshow' Mayor Briefing Event Site.
[Photo by KOTRA]

Vietnam's urban population ratio is expected to rise to 60% by 2040. Various smart city projects such as smart water management, smart energy, and eco cities are being promoted mainly in major cities like Hanoi, Ho Chi Minh City, and Da Nang. In this regard, Korean companies in the ICT sector participated with AI crowd counters, traffic control systems, smart lighting, and water management solutions to explore the potential for entering the Vietnamese smart city market.

The size of the Indonesian smart market reached $27 billion (approximately 37 trillion KRW) as of last year. It is expected to grow to about $236 billion (approximately 322.1 trillion KRW) by 2035. In particular, the new capital relocation project, worth 40 trillion KRW, which involves moving the administrative capital from Jakarta to Kalimantan by 2045, is a project in which Korean companies are actively competing for contracts.

Lee Hee-sang, head of KOTRA's Southeast Asia and Oceania Regional Headquarters, said, "The Vietnamese government is promoting the establishment of a smart city network covering major and local cities according to the smart city roadmap announced in 2019, and Indonesia is implementing smart city projects in 196 regions nationwide, including the new capital. KOTRA will actively support more Korean companies to enter the Southeast Asian smart city market on the front lines."

This content was produced with the assistance of AI translation services.