Indonesia’s Minister of Investment and Chairman of the Investment Coordinating Board (BKPM), Rosan P. Roeslani, has set an ambitious target to increase Singapore’s investment in Indonesia, aiming to surpass the current cumulative investment of $63.17 billion, which represents 29.8% of Indonesia’s total Foreign Direct Investment (FDI) from 2019 to June 2024.
During a meeting in Singapore on August 26, 2024, Rosan outlined the future Indonesian government’s priorities under President-elect Prabowo Subianto. These include advancing the downstream natural resources sector, promoting clean energy, enhancing health services, and developing human capital. The meeting was part of a broader effort to strengthen Indonesia-Singapore collaborations in economic and sustainable investment sectors.
Rosan emphasized the importance of continuing the momentum established under outgoing President Joko Widodo’s administration, ensuring a seamless transition with ongoing policy refinement and attractive incentives to enhance Indonesia’s investment climate. “We are keen to understand Singaporean entrepreneurs’ primary concerns regarding investments in Indonesia,” he stated.
On August 27, 2024, Rosan is scheduled to meet with Singapore’s Prime Minister to discuss strategies for reinforcing investment ties, particularly in key areas such as natural resources, clean energy, and workforce development. These discussions aim to lay the foundation for strategic projects and solidify bilateral cooperation.
Singapore’s Minister of Manpower and Second Minister of Trade and Industry, Tan See Leng, expressed strong support for Rosan’s visit, emphasizing the desire to expand partnerships in areas like LNG plant utilization and maritime investments. Tan also highlighted the need to address challenges related to carbon capture, storage, and the emerging carbon market in Indonesia.
Rosan also held meetings with executives from leading Singaporean firms, discussing cross-border electricity investments with SP Group, and exploring infrastructure and telecommunications opportunities with SingTel. Further discussions with Sembcorp focused on solar power projects in Indonesia’s new capital, as well as investments in the Kendal industrial zone and Batam’s telecom infrastructure. Additionally, Rosan engaged with ST Telemedia Global Data Center (STT GDC) to explore expanding data center investments in Indonesia.
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