Govt Encourages Singaporean Businesses To Invest In Indonesia

Jakarta, Nov 24 (Antara) - The Indonesian Minister of Foreign Affairs Retno Marsudi encouraged the Singaporean business sector to boost foreign direct investment (FDI) in Indonesia. Minister Marsudi remarked during a meeting with the Singaporean Trade and Industry Minister Teo Ser Luck and Chief Executive Officer International Enterprise Teo Eng Cheong here on Monday that she hoped the FDI will be focused on the development of infrastructure such as ports, toll roads, power plants, food security, and the energy and maritime sectors. Marsudi also gave assurance to the Singaporean business delegation comprising 50 members that the MOFA will work in tandem with the related ministries and institutions to help Singaporean businesses to invest in Indonesia. According to the press statement made available to Antara here on Monday, the Singaporean business delegation was accompanied by Indonesian Ambassador to Singapore Dr Andri Hadi to visit some regions, including Jakarta, Cikarang (West Java) and Semarang (Central Java), from November 24 to 27, 2014. During the visit in Jakarta, the Singaporean business delegation will also meet Trade Minister Rachmat Gobel, Jakarta`s Governor Basuki Tjahaja Purnama, and Deputy Head of the Investment Coordination Board (BKPM) and will then proceed to visit some manufacturing industries in Lippo Cikarang, West Java. Besides this, the delegation will also explore the investment potential in the "Beyond Jakarta Project" by visiting some industrial regions in Central Java. The business delegation will be received by Central Java Governor Ganjar Pranowo in Semarang, who will probably witness the signing event of a "business to business" memorandum of understanding (MoU) of "the Global Collaboration for Packaged Power Generating Sets and Heat Recovery Solutions" between Singapore`s Cyclect Energy Pte Limited and Indonesia`s Berkat Manunggal Jaya (BMJ) on November 27, 2014. The government hopes that the business delegation`s arrival will have a positive impact on Singapore`s investment in Indonesia in the future. Currently, Singapore is the biggest foreign investor in Indonesia with a total of US$4.7 billion in 2013, and until the third quarter of 2014, (January to September), it has reached US$ 4.9 billion. The Singaporean business delegation`s visit to Indonesia is organized by Singapore`s Business Federation (SBF), International Enterprise (IE), Singapore`s Manufacture Federation (SMF), Singapore`s Small Medium Enterprises Association (ASME), and also supported by the Indonesian Embassy in Singapore, BKPM, and the Indonesian Chamber of Trade and Industry (Kadin).