The Indonesian government has issued a regulation for a multiple-entry visa (Visa D17) for Singaporean experts who make regular visits to the Batam, Bintan, and Karimun (BBK) regions of Riau Islands province.
“To support the mobility of Singaporean investors to Indonesia, we have facilitated the regulation for a multiple-entry visa for Singaporean experts who make regular visits through Visa D17, along with a cross-ministry/agency coordination scheme related to the arrival notification of experts to the BBK area,” Coordinating Minister for the Economy, Airlangga Hartarto, told the Indonesia-Singapore Six Bilateral Economic Working Groups (MM 6WG) Ministerial Meeting held in Singaporeon on Saturday, June 8, 2024.
On the occasion, Airlangga also highlighted the Kendal Industrial Park (KIP) in Central Java, which has seen significant growth since becoming a Special Economic Zone (KEK), creating a substantial multiplier effect. This exponential growth is directly linked to financial incentives provided in the KEK in the form of tax holidays and tax allowances. Currently, there are 100 businesses with an investment value of Rp 43.8 trillion (US$2.7 billion) in KIP.
The meeting concluded with the signing of the Joint Report to Leaders, a document detailing the achievements and developments of the bilateral economic cooperation 6WG to the leaders of both countries.
The Indonesia-Singapore Six Bilateral Economic Working Group has convened 13 times, with the last meeting held in Semarang in mid-August 2023.
Investment and transportation cooperation
This cooperation aims to enhance the economic relationship between the two countries, including in the areas of Batam, Bintan, Karimun (BBK) as well as other KEKs, investment promotion, transportation, labor, agribusiness, and tourism.
On the occasion, Airlangga explained that Indonesia aims to be among the world’s top 10 largest economies in the next decade. To achieve this, Indonesia requires an economic growth rate of 6-7 percent, necessitating increased investment. This goal also requires better support and collaboration with Singapore.
“Indonesia will also continue to strive to maintain stability and peace in the Indo-Pacific region as well as in ASEAN. I believe that Indonesia and Singapore can serve as anchors,” he said.
Airlangga cited Indonesia’s progress in becoming the first ASEAN member of the OECD and its efforts to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
With Singapore’s support, Indonesia is confident that it can soon become a member of both the OECD and the CPTPP.
