BOGOR – Singapore companies have been expressing interest in Indonesia’s new future capital, as collaborative efforts continue for both countries in emerging fields like the green economy, said Prime Minister Lee Hsien Loong.
Speaking to Singapore media after the Singapore-Indonesia Leaders’ Retreat in Bogor, West Java, on April 29, PM Lee said that earlier in the day, he and Indonesia President Joko Widodo discussed the potential of Nusantara, the proposed new capital that will replace Jakarta later this year.
He noted how, in particular, Singaporean state-owned energy and urban development company Sembcorp has a project to supply sustainable energy to Nusantara.
“This is a project which is very close to President Jokowi’s heart, so I am glad that we have been able to participate in it,” he said, referring to the Indonesian leader by the moniker by which he is commonly known.
“It is a very important relationship for Singapore, and I hope from Indonesia’s point of view, they find it a valuable relationship to them too.”
Other joint projects are in the works too, and PM Lee said that the two leaders had discussed possibilities in the green economy.
Specifically, both sides are looking at cooperating on the export of electricity, and PM Lee said that a possible collaboration involves Singapore building cables and therefore facilitating the trade of green electricity.
Earlier in the day, Singapore Senior Minister and Coordinating Minister for National Security Teo Chee Hean and Indonesia Coordinating Minister for Maritime Affairs and Investment Luhut Pandjaitan signed a new memorandum of understanding on community empowerment activities relating to mangrove ecosystems in Indonesia.
Under the agreement, both governments will set up a bilateral framework to facilitate the participation of non-governmental organisations and stakeholders to promote the sustainable use of mangrove resources in local communities. This will start with a pilot project on Setokok Island in Batam.
Other activities will include the sharing of best practices on the sustainable use of mangrove products and economic opportunities from mangrove ecotourism, as well as promoting community awareness on developing sustainable mangrove ecosystems.
In a statement on April 29, Singapore’s Ministry of Foreign Affairs (MFA) said that at the retreat, PM Lee and President Widodo welcomed the extension of the Bilateral Financing Agreement between the Monetary Authority of Singapore and Bank Indonesia.
This development reinforces the ongoing financial cooperation in preserving monetary and financial stability in both countries amid global macroeconomic uncertainties, said MFA.
The ministry added that the economic relationship between the two countries is robust, and that investments from Singapore to Indonesia amounted to more than $74 billion cumulatively.
At the retreat, PM Lee and President Widodo witnessed the signing of the Joint Update on Defence Cooperation (JUDC) between Singapore’s Defence Minister Ng Eng Hen and Indonesia President-elect and Minister of Defence Prabowo Subianto.
This agreement looks back on key bilateral defence interactions in the past year, and highlights new and enhanced areas of collaboration for the year ahead.
PM Lee and Mr Widodo on April 29 also announced the pilot launch of a programme to facilitate young tech professionals from Singapore and Indonesia to work in each other’s countries.
The Tech:X programme will deepen linkages between Singapore’s and Indonesia’s tech ecosystems, said Singapore’s Ministry of Trade and Industry (MTI) in a release.
It added that the programme will allow young tech professionals from both countries to gain overseas work experience and pursue growing opportunities in the digital economy.
“It will also enable businesses to access a wider pool of young tech professionals and facilitate the rotation or transfer of high-potential employees between their Singapore and Indonesia offices,” said MTI.
