Investment Minister Rosan Roeslani aims to boost Singapore’s investment in Indonesia beyond USD 63.17 billion or IDR 979 trillion. Singapore was Rosan’s first destination after being appointed as the Minister of Investment and head of the Indonesian Investment Coordinating Board (BKPM).  

During his visit, Rosan plans to meet with Singaporean Prime Minister Lawrence Wong. Singapore currently holds the top position as the largest foreign investor in Indonesia. Rosan hopes to see a further increase in Singaporean investments, building on the US$63.17 billion (Around Rp 979 trillion) recorded over the last five years, from 2019 to June 2024. 

The meeting will focus on enhancing investments and collaboration in key sectors, including natural resource downstreaming, clean energy, and human resource development. They will also discuss concrete steps to strengthen bilateral cooperation and push forward strategic investment projects. 

“The government’s future priorities are natural resource downstreaming, clean energy, healthcare, and human resource development,” Rosan stated during a meeting with Singapore’s Minister for Manpower and Second Minister for Trade and Industry, Tan See Leng, on Monday, August 27, as quoted by Antara.  

During the same occasion, Tan See Leng expressed a desire to expand cooperation with Indonesia, particularly in sectors like natural gas, tanker investments, and bunkering. 

He emphasized the need for Indonesia and Singapore to further discuss challenges in implementing carbon capture storage and the relatively new carbon market in Indonesia. Both sides hope to accelerate cooperation in these areas. 

On the same day, Rosan also held meetings with several leaders of Singaporean companies, including: 

• A meeting with SP Group to discuss cross-border electricity network investments. 
• A meeting with SingTel to explore investments in infrastructure, data centers, and telecommunications. 
• A meeting with Sembcorp to discuss solar power plant (PLTS) projects in the new capital city of Nusantara, the Kendal Industrial Zone (Sembcorp Urban), and telecommunications infrastructure in Batam. 
• A meeting with ST Telemedia Global Data Center (STT GDC) to discuss investment plans in the data center sector.  

The first day of the working visit to Singapore concluded with a meeting with the Singapore Business Federation. This working visit is scheduled to take place from August 26 to 28, 2024. 

Original article here

This article is published in partnership with Katadata