Singapore`s new investment in Indonesia reached US$5.04 billion or rose 38 percent in the first half of the year compared with the same period last year. In the whole of 2017, Singapore`s new investment was valued at US$8.44 billion in the country.
Meanwhile, Indonesia`s exports of non-oil/gas commodities to Singapore were valued at US$9 billion making that neighboring country the fifth largest destination of Indonesia`s exports of commodities other than oil and gas. Singapore doesn't stop investing in Indonesia.
Currently Indonesia already have more than 43 tenants in Kendal (KIK) and will focus on development of furniture polytechnics in the industrial estate," the minister said. KIK will be the first integrated industrial estate in Central Java. It is expected to draw up to Rp200 trillion.
In the first phase the industrial estate will occupy 1,000 hectares plot of land with target of 300 tenants to open 500,000 jobs until 2025. KIK will be developed in three phases to occupy 2,700 hectares of land. It will be an integration of industrial zone, port, fashion city and residence area.
He said the two countries have agreed to strengthen cooperation in the vocational education mainly to supply trained industrial workers for the industrial estate.
Teaching staff from Indonesia have been sent to take part in a program of vocational training in Singapore such as in machinery, power generation industrial automation technique.
Singapore doesn't stop investing in Indonesia. Indonesian Ambassador to Singapore Ngurah Swajaya said potential collaboration between Indonesia and Singapore is in digital economy in line with the era of industrial revolution 4.0.
(source: The Jakarta Post)