The Singapore Business Mission, led by Indonesian Ambassador to Singapore Ngurah Swajaya, resulted in an investment agreement of US$500 million, according to a written statement from the Ministry of Foreign Affairs received here on Thursday.
Ambassador Swajaya led a business mission to introduce the trade, tourism, and investment potential of Singaporean entrepreneurs to Belitung.
The visit to Belitung was a follow up to the Indonesia Investment Day activities held by the Indonesian Embassy in Singapore on August 31, 2018, in Singapore.
The Business Mission was attended by 18 participants, including representatives from the Singapore Government, such as the Singapore Ministry of Trade and Industry, Singapore Tourism Board, Singapore government investment institutions, Economic Development Board and Enterprise Singapore, and cruise ship tour operators along with Singaporean businessmen and investors.
Singapore`s business mission delegation was received by the Belitung regent, representatives of the provincial government, stakeholders of Belitung Regency, and local business players.
The visit of Singapore`s business mission resulted in an investment commitment worth $500 million between the Belitung Regency Government and Naza Holdings Pte Ltd and agreement with Singaporean businessmen worth $2.5 million for the exports of black pepper from PT. MTN Unites.
On the occasion, the business mission also encouraged increased exports of Belitung`s flagship products, such as those from the fishing industry, pepper, and other spices.
Furthermore, Ambassador Swajaya encouraged Singaporean entrepreneurs to participate in the Trade Expo Indonesia activities to be held at ICE, BSD, South Tangerang, on October 24-28, 2018.
Singapore`s investment in Indonesia for the first six months in 2018 rose 38 percent to $5.04 billion.
The tourism sector and increased exports are the main focus of the Indonesian Embassy in Singapore in conducting concrete economic diplomacy and directly impacting the welfare of people.