Indonesian Minister Meets Singapore PM; Aims to Attract Over US$63.17bn Investment
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27 August 2024 13:54 WIB
TEMPO.CO, Jakarta - Indonesia's Investment Minister / Head of the Investment Coordinating Board (BKPM), Rosan Roeslani, aims to increase Singapore's investment in Indonesia to over US$63.17 billion or approximately Rp979 trillion. In a bid to attract more investment to Indonesia, Rosan is currently on a visit to Singapore and is scheduled to meet with Prime Minister Lawrence Wong.
They will discuss increasing investment and cooperation in key sectors, including natural resources downstream, clean energy and human resources development.
The meeting will also focus on concrete steps to strengthen bilateral cooperation and promote strategic investment projects, according to the ministry's press release on Tuesday, August 27, 2024.
"Going forward, the government's priorities are the downstream natural resources, clean energy, health and human resources development sectors," Rosan said after meeting with Singapore's Minister for Manpower and Second Minister for Trade and Industry Tan See Leng on Monday, August 26.
On this occasion, Tan See Leng encouraged more sectors of cooperation with Indonesia, including in the natural gas sector and investments in tankers and bunkers. According to him, Indonesia and Singapore also need to further discuss the challenges in implementing carbon capture and storage and the relatively new carbon market in Indonesia to accelerate collaboration in this area.
On the same day, Rosan also met with several Singaporean business leaders. He first met with SP Group to discuss cross-border investments in power grids. He then met with SingTel to discuss investments in infrastructure, data centers and telecommunications.
Rosan also met with Sembcorp to discuss investments in solar power plant projects (PLTS) in Indonesia's soon-to-be new capital Nusantara, the Kendal industrial estate (Sembcorp Urban), and telecommunications infrastructure in Batam. Fourth, a meeting with ST Telemedia Global Data Center (STT GDC) to discuss investment plans in the data center sector.
Rosan's first day in Singapore concluded with a meeting with the Singapore Business Federation.
Singapore continues to be the largest investor in Indonesia. BKPM data shows that Singapore's investment in the second quarter of 2024 reached US$4.6 billion. BKPM data also shows that Singapore's total investment in the period from 2019 to June 2024 reached US$63.17 billion, or 29.8 percent of the total foreign investment (PMA) in Indonesia.
The Investment Minister's working visit to Singapore is scheduled from August 26 to 28.
TEMPO.CO
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