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Rabu, 28 Agustus 2024

Pursuing High Growth, Indonesia's Minister of Investment Optimistic For Greater Investment Contribution

Singapore, 28 August 2024 – The Indonesian government’s efforts under the forthcoming leadership aim to achieve an economic growth rate of 8%, is believed to be an important agenda to escape from middle income trap that is needed for economic growth at least above 6-7%.

Rosan Roeslani, Indonesia Minister of Investment/Chairman of the Investment Coordinating Board (BKPM) stated during a meeting with Singapore’s Prime Minister, Lawrence Wong, on August 27th, 2024.

 

“Under the upcoming leadership, Indonesia’s economic growth is projected to reach 8%. The key driver to achieve this economic growth lies in increased investment contributions, particularly from export-oriented sectors,” he said.

 

The meeting between Rosan and PM Wong covered several important topics, including geopolitical conditions, investment potential in infrastructure, health, industrial areas, renewable energy, education, food security and manufacturing. Rosan highlighted Singapore’s role as a key economic and investment partner for Indonesia, noting that Singapore consistently ranks as the top investor in Indonesia for the last 10 years.

 

Singapore’s Commitment

PM Wong expressed optimism about Indonesia's current economic condition. Despite high geopolitical tensions, PM Wong conveyed the need of improvement in complementary bilateral linkage between countries, mainly Indonesia and Singapore.

 

Wong affirmed Singaporean Investors strong interest and commitment to invest in Indonesia, particularly in sectors such as Carbon Capture Storage (CCS), Industrial Park, and renewable energy powerplant in Batam, Bintan, and Karimun (BBK).

 

“We see the opportunities for data center development in Indonesia with the high growth of start-up technology companies. In this case, the power source need green energy supply. Indonesia also has great CCS potential, and Singapore will be a CCS user, this is another great potential. We look forward to working closely together,” Wong said.

 

Rosan mentioned that Government of Indonesia offers super tax deduction incentive for the investor who provide training and vocational facilities.

 

“The key point is, Indonesian Government is also focusing on human capital development,” Rosan expressed.

 

At the end of the meeting, PM Wong conveyed his plan to visit Jakarta near the inaguration of President-elected, Prabowo Subianto, as the 8th President of Indonesia.

 

MoU between the Ministry of Investment/BKPM and Raffles Education Limited

 

As part of his working visit to Singapore (August 27), the Minister of Investment signed a Memorandum of Understanding (MoU) on Promoting Potential Investment in Education Sector with Chairman and CEO of Raffles Education Limited, Chew Hua Seng.

Rosan explained that this MoU establishes a collaborative framework between the Ministry of Investment/BKPM and Raffles to explore and facilitate investment opportunities in Indonesia’s education sector, mainly in Nusantara Capital.

 

“I hope that this Memorandum of Understanding can improve the good relations between the two agencies and explore a wider scope of collaboration, including conducting a comprehensive joint study to explore the potential of investment in education, developing potential a state-of-the-art educational facility, collaborating on initiatives to build the capacity of Indonesian educators, administrators, and local education institution, as well as provide necessary cooperation to support investment promotion and facilitation in education sector,” said Rosan.

 

This collaboration is also part of ongoing efforts to improve the quality of human resources and labor in Indonesia, ensuring they meet the demands of the current labor market.

In addition to meeting with PM Wong, on the same day, Minister of Investment also met with several other Singaporean officials and business leaders, including the Deputy Prime Minister of Singapore and Minister of Trade and Industry, CEO of the Singapore Food Agency (SFA), Chairman of the Economic Development Board (EDB), and Executive Chairman of Enterprise Singapore (ESG).(*)

 

For further information, please contact:

Ahmad Faisal Suralaga

Head of Communication and Information Services Bureau

Ministry of Investment/BKPM

E-mail: humas@bkpm.go.id

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