Rosan Perkasa Roeslani, Chairman of the Honorary Council of the Indonesian Chamber of Commerce and Industry (Kadin), highlighted the strengthening bilateral partnership between Indonesia and Singapore. This collaboration spans multiple sectors, including economy, trade, investment, education, and renewable energy.
During a lunch meeting with Singapore’s Ambassador to Indonesia, Kwok Fook Seng, in Jakarta on June 13, 2024, Rosan discussed the flourishing relationship between the two nations. Singapore’s investments in Indonesia topped the charts, particularly in real estate and industrial sectors.
In 2023, Singapore emerged as the largest investor in Indonesia’s housing and industrial sectors, with investments totaling USD 1.04 billion (SGD 1.404 billion). This trend continued into the first quarter of 2024, with investments reaching USD 4.2 billion (SGD 5.67 billion), making Singapore the leading country in terms of investment volume in Indonesia.
According to data from Indonesia’s Central Statistics Agency (BPS), the trade balance between Indonesia and Singapore in 2023 was robust, with exports amounting to USD 12.6 billion (SGD 17.01 billion) and imports from Singapore at USD 18.4 billion (SGD 24.84 billion).
The partnership also extends to educational exchanges and collaborative projects in the renewable energy sector, reflecting a deep commitment to sustainable development and human connectivity.
Rosan emphasized the importance of human and business connectivity that has been established through decades of partnership, ensuring a stable and mutually beneficial relationship.
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The ongoing collaboration is expected to continue growing, driven by both countries’ commitment to deepening ties in existing sectors and exploring new opportunities for joint ventures.
The enhanced partnership between Indonesia and Singapore not only solidifies economic and trade relations but also promotes regional stability and prosperity. This partnership serves as a model for international cooperation, offering substantial benefits to both nations and setting a precedent for future bilateral engagements.
The bilateral partnership between Indonesia and Singapore continues to strengthen, fostering significant advancements in trade, investment, and educational collaborations. This robust relationship is poised to drive future economic growth and innovation, benefiting both nations and the broader ASEAN region.
