Singapore To Broaden Investment Scopes In Indonesia

Jakarta, Nov 24 (Antara) - Singapore`s visiting minister of trade and industry Teo Ser Luck said here on Monday that his country`s focus of investment would be expanded to various areas and sectors in Indonesia. After meeting with businessmen at the Indonesian Chamber of Commerce and Industry (Kadin), the minister stated that as the minimum wage standards differ from region to region in Indonesia, Singaporean businessmen would have many choices with regard to where they want to make investments. "As a business partner, Singapore will look into all opportunities available in Indonesia. We will not focus only on one area but on various sectors and areas," he added. Luck noted he would let private businesses to decide where and in what sector they want to invest in Indonesia. He remarked that the Singapore government would only support them to participate in Indonesia`s economic development through cooperation between the two countries. "Singapore`s private businesses are trying to understand the system and work culture in Indonesia and this will give us a lot of choices," he explained. Kadin`s chairman Suryo Bambang Sulisto observed that the Singaporean delegation had come to learn about Indonesia`s business system. "They raised several issues and doubts and Kadin gave them explanations related to minimum wage standards and bureaucracy. They seemed interested," he pointed out. Suryo stated that their arrival here to explore possibilities and the way they introduced themselves mirrored their seriousness in seeking to make investments in the country. He added they would also visit Semarang in Central Java to explore any investment possibility there. "They said they would later make routine visits to cover other big cities outside Java. We have expressed our appreciation for their efforts," he revealed. According to the UN Comtrade, in 2013, the trade between Indonesia and Singapore reached US$59.79 billion, up by US$63.5 billion from the previous year.