Kendal Industrial Park total investment value reaches US$360m: DPM Teo

Kendal Industrial Park total investment value reaches US$360m: DPM Teo

JAKARTA: The Kendal Industrial Park's total investment value has reached US$360 million so far, Deputy Prime Minister Teo Chee Hean said on Thursday (Aug 10).

Speaking at a National Day reception in Jakarta, Mr Teo said that the industrial park - also known as Park by the Bay - has also provided employment for 4,000 Indonesians. It is a joint venture between Singapore's Sembcorp Development and Indonesia's industrial estate developer PT Jababeka.

Located in Semarang, Central Java, the 2,700-hectare park has attracted 30 companies since its official opening last November by Prime Minister Lee Hsien Loong and Indonesia's President Joko Widodo, with 42 more companies expected to start operations.

Mr Teo said that trade and investment links between Singapore and Indonesia are strong, and so too are the exchanges between the people of both countries.

"Over 5,600 Indonesian officials have participated in many exchanges in Singapore, and these are in areas of interest to a number of different Indonesian provinces in areas such as tourism, port management, and urban planning," he said.

"Later this year, journalists and editors too from the Indonesian media will participate in a visit programme to Singapore. These interactions reflect our frequent and wide ranging exchanges."

Indonesia's Industry Minister Airlangga Hartarto said that over the past 50 years, Singapore and Indonesia have been working closely to maintain regional peace and stability, strengthening bilateral relations.

"The conducive regional environment has enabled both countries to tap the peace dividends and to grow together, including by leveraging each other's potential for mutual benefit and to strengthen the solid foundation for mutual cooperation," he said.

Mr Teo was in Jakarta to commemorate the 50th anniversary of diplomatic ties between Indonesia and Singapore.

Both countries will celebrate this milestone at the Leaders' Retreat in Singapore on Sep 7.

Source: CNA/nc