Minister of Investment/Chairman of the Investment Coordinating Board (BKPM), Rosan P. Roeslani, has set the target of seeing increased Singapore’s investment in Indonesia, surpassing the current benchmark of US$63.17 billion, which reflects the cumulative Singapore’s investment 2019 to June 2024, accounting for 29.8 percent of Indonesia’s total Foreign Direct Investment (FDI).
Rosan has also set the future government’s priorities, including advancing the downstream natural resources sector, promoting clean energy, improving health services, and developing human capital.
His remarks were made during a meeting in Singapore on Monday, August 26, 2024, designed to fortify Indonesia-Singapore collaborations in economic and sustainable investment sectors.
The forthcoming government, led by President-elect Prabowo Subianto, intends to maintain the momentum laid by outgoing President Joko Widodo’s leadership. All ministries including the Ministry of Investment/BKPM, are committed to ensuring seamless transition.
“Enhancing the investment climate in Indonesia remains our focus through policy refinement and attractive incentives. We are keen to understand Singaporean entrepreneurs’ primary concerns regarding investments in Indonesia,” Rosan said in a statement on Tuesday, August 27, 2024.
Rosan is scheduled to have a meeting with the Prime Minister of Singapore today (Tuesday, August 27, 2024) to discuss strategies for strengthening investment ties, particularly in natural resources downstream, clean energy, and workforce development. The discussion aims at laying the groundwork for strategic projects and further solidifying bilateral cooperation.
Tan See Leng, Singapore’s Minister of Manpower and Second Minister of Trade and Industry, expressed strong support for Rosan’s visit aimed at fortifying the partnership with Indonesia.
“We are keen on expanding partnership with Indonesia, including on utilization of LNG Plant and maritime investments such as tankers and bunkering,” Tan said.
He emphasized the need for discussions on overcoming challenges related to carbon capture and storage and the burgeoning carbon market in Indonesia, signifying a mutual interest in accelerating progress in these areas. Additionally, Tan endorsed efforts towards enhanced nutrition for the Indonesian population.
Meeting with Singaporean business leaders
Rosan also convened meetings with key executives from prominent Singaporean firms on Monday.
In a meeting SP Group, he discussed about cross-border electricity investments, while a session with SingTel focused on infrastructure, data center, and telecommunications investment opportunities.
Further discussions with Sembcorp targeted investments in Solar Power Plant projects in the new capital, Kendal industrial zone (Sembcorp Urban), and Batam’s telecom infrastructure. Moreover, Rosan engaged with ST Telemedia Global Data Center (STT GDC) regarding plans to boost data center investments.
