Indonesia-Singapore Sign US$ 9.2 Billion Investment Cooperation

Bintan, MINA – President Joko Widodo said that Indonesia and Singapore had just signed an investment cooperation worth US$9.2 billion on Tuesday.

“The retreat meeting noted new investments worth 9.2 billion US dollars. Among others, in the field of new and renewable energy, around Batam, Sumba Island and West Manggarai, NTT. As well as the development of logistics relations at Tanjung Priok Port,” President Joko Widodo said at a press conference with Singaporean PM Lee Hsien Loong from Bintan Island, Riau Archipelago, as broadcast on the Presidential Secretariat’s YouTube.

According to Widodo, the investment agreement above is in the context of strengthening cooperation in economic recovery.

The head of state said that Singapore is the biggest investor in Indonesia. Where Singapore’s investment in Indonesia from January to September 2021 is worth US$ 7.3 billion.

“Investment in energy and renewable energy continues to be a priority for the Indonesian government in order to promote a green and sustainable economy. To support a green investment climate in this series of retreat meetings, an MoU on energy cooperation has been signed,” Widodo continued.

Then, there is also the MoU on green and circular economy development between Indonesia and Singapore.

In addition, in order to continue to maintain financial and monetary stability in support of economic recovery, several other collaborations have been signed.

“Among other things, the local currency bilateral swap agreement and bilateral repoline have been extended by one year. I also hope that the MoU between the central banks related to payment innovation, anti-money laundering, and prevention of terrorism financing can be signed soon,” said the President.

Then, to support safe human mobility, Indonesia-Singapore are currently finalizing cooperation on vaccine recognition and synchronization of interoperability of tracking and protection platforms owned by the two countries.

Furthermore, Widodo also explained a number of works there in the fields of politics, law and security between Indonesia and Singapore.

“Exchange of letters between the Coordinating Minister for Marves Indonesia and the Coordinating Minister for National Security Singapore. Then the extradition agreement, then the flight information region (FIR) agreement and the joint statement of the Ministers of Defense of the two countries regarding the commitment to enforce the defense cooperation agreement,” he explained.

“For extradition, in this new agreement the retroactive period is extended from 15 years to 18 years in accordance with article 78 of the Criminal Code,” President continued.

Meanwhile, with the signing of the FIR agreement, the scope of the Jakarta FIR will cover all of Indonesia’s territorial airspace, especially in the waters around the Riau islands and the Natuna islands.

President Joko Widodo hopes that in the future, cooperation in law enforcement of aviation safety and defense and security of the two countries can continue to be strengthened based on the principle of mutual benefit.

“Then, the third is cooperation in education and human resource development. Cooperation in the field of human resources has become the commitment of the two countries since several years ago,” said the former governor of DKI Jakarta.

“For 2022, there will be HR training between Singapore and the Riau Islands Provincial government to strengthen capacity in the food industry 4.0 and supply chain sectors,” he said.

President assessed that this kind of cooperation could be further developed in various regions on a larger scale.

He also stated that he supports the plan to sign the MOU on the Indonesia-Singapore human capital partnership arrangement.

This MoU will strengthen research collaboration and institutional strengthening and student exchange in order to strengthen the concept of the Merdeka Campus in Indonesia.

Previously, President Widodo received a visit from Singapore’s Prime Minister (PM), Lee Hsien Loong, at The Sanchaya Resort Bintan, Bintan Regency, Riau Islands Province, Tuesday.

PM Lee’s presence in Bintan is to attend the Indonesia-Singapore Leaders’ Retreat. (T/RE1)

Mi’raj News Agency (MINA)