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Singapore, Indonesia Sign Agreements for Economic Recovery

25 January 2022 22:09 WIB

TEMPO.CO, Jakarta - President Joko Widodo, or Jokowi, on Tuesday, met with Singapore Prime Minister Lee Hsien Loong in a bilateral meeting discussing agreements in multiple sectors, most importantly those related to economic recovery. 

The meeting with the Prime Minister took place at The Sanchaya Resort Bintan located in the Riau Islands. The President mentioned Singapore as one of Indonesia’s largest investors from January to September 2021 with an investment value worth US$7.3 billion.

That number will climb as this meeting produced a new investment worth US$9.2 billion in the form of the renewable energy field in Batam, Sumba Island, West Manggarai, East Nusa Tenggara (NTT), and a logistical hub at the port of Tanjung Priok. 

In order to maintain financial and monetary stability to support the economic recovery, a number of memorandum of understandings (MoU) were signed in November last year, such as the local currency bilateral swap agreement (LCBSA) and the bilateral repo line (BRL) which have been extended for another year.

Read More: RCEP Agreement Takes Effect on First Day of 2022

EGI ADYATAMA



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