JAKARTA: Indonesia and Singapore have agreed to boost cooperation in investment and vocational education, especially in the industrial sector, with Indonesia offering the development of three industrial estates to Singapore.
Indonesia's Minister for Industry Airlangga Hartarto said on Monday (Feb 19) that Indonesia has encouraged Singapore to continue developing industrial parks in North Kalimantan, North Sumatra and North Sulawesi, with an integrated concept similar to that in Kendal Industrial Park in Semarang, Central Java.
The park, which was launched by Prime Minister Lee Hsien Loong and President Joko Widodo in 2016, has attracted 39 companies so far, with a total investment of US$360 million, and employed more than 1,950 people. It is a joint venture between developers from Singapore and Indonesia.
The companies are from various industries – from furniture to food packaging. A polytechnic in the industrial park to produce trained workers to support the project is also almost completed.
"Singapore is one of the neighbouring countries that have a strategic role towards the interests of Indonesia and the region," Minister Airlangga was quoted as saying.
His comments came after a visit by Singapore Foreign Minister Vivian Balakrishnan last week, where he met several officials, including his Indonesian counterpart, Retno Marsudi, Jakarta Governor Anies Baswedan and the Industry Minister.
Minister Airlangga said that during the visit, he discussed the Bilateral Investment Treaty and negotiated a renewal of the Double Taxation Agreement with Dr Balakrishnan.