Indonesia Seeks Investments from Singapore

JAKARTA, KOMPAS.com - Indonesia's State-Owned Enterprises Minister Erick Thohir invited Singapore to invest in the energy, tourism, and financial sector in the country, following the establishment of its Sovereign Wealth Fund or known as Indonesia's Investment Authority (INA). 

Erick said that the government has been working relentlessly to keep the wheels of the economy turning amid the pandemic. In the next three years, the State-Owned Enterprises Ministry will carry out 88 big projects or investments.

Therefore, during his working visit to the City-State the minister invited Singapore to be part of the projects as Indonesia welcomes investment from foreign investors. 

Also read: Jokowi Signs Government Regulation on Indonesian Sovereign Wealth Fund

"President Joko Widodo has formed and appointed professionals to handle Indonesia's Sovereign Wealth Fund or INA. Many prospective projects are being prepared as they will provide good returns, "said Erick in a statement on Sunday, February 21.

The minister highlighted three areas for collaboration namely energy, tourism, and the financial sector. Erick expressed hope that the invitation to invest in Indonesia will be further discussed.

During his visit, Erick held 13 meetings with Singapore's high-ranking government officials and prominent business leaders, such as Minister of Foreign Affairs Vivian Balakrishnan, Minister of Trade and Industry Chan Chun Sing, and Chairman of the Economic Development Board Beh Swan Gin.

Accompanied by his deputy, Kartika Wirjoatmodjo, and BNI's Corporate Banking Director Silvano Rumantir, Erick held meetings with the CEOs of Changi Airport, Singapore Airlines, Singtel, and the Central Provident Fund Board.

Erick, who is also the National Covid-19 response and economic recovery committee chief executive, explained the main focus of the Indonesian government in tackling the spread of the coronavirus.  

Also read: Indonesia Seeks Japan Investment in Sovereign Wealth Fund