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JAKARTA \u2013 Singapore and Indonesia will conduct a joint study on the technology sector in the Batam, Bintan and Karimun (BBK) region to identify future opportunities, even as both countries advance plans to transform the area into a \u201cvibrant digital hub\u201d.<\/p>\n
The developments were discussed at the 16th Singapore-Indonesia Six Bilateral Economic Working Groups<\/span><\/a> Ministerial Meeting in Jakarta on June 9, co-chaired by Singapore Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong and Indonesian Coordinating Minister for Economic Affairs Airlangga Hartarto.<\/p>\n The annual meeting is a platform for the two neighbours to coordinate economic cooperation across six areas: investments, manpower, transport, tourism, agribusiness, and the development of the BBK region and other special economic zones.<\/p>\n At the meeting, Gan and Airlangga reaffirmed their commitment to deepening economic ties amid growing global uncertainty, stepping up cooperation in areas such as the digital economy, green energy, industrial infrastructure and agritech.<\/p>\n \u201cSingapore and Indonesia share a longstanding and deep relationship, built on mutual cooperation and benefits,\u201d Gan said at a joint press conference.<\/p>\n He added that both countries have agreed to strengthen cooperation in supply chain resilience and explore new ways to \u201ccomplement and support\u201d each other. This includes areas such as the digital economy, green economy, industrial infrastructure and agritech.<\/p>\n Airlangga said the two countries had made significant progress across multiple sectors and remained focused on translating cooperation into concrete investments and projects.<\/p>\n \u201cI am pleased that our bilateral economic cooperation is strong and more importantly, heading to the right direction,\u201d he said.<\/p>\n The meeting comes ahead of the 10th anniversary of the Kendal Industrial Park<\/span><\/a>, a flagship Singapore-Indonesia industrial estate inaugurated in November 2016.<\/p>\n Located in Kendal regency, west of Semarang in Central Java, the industrial estate has become one of the most prominent examples of bilateral economic cooperation.<\/p>\n Singapore\u2019s Ministry of Trade and Industry said the park will expand by an additional 1,000ha under its second phase of development, which is aimed at attracting more investment, creating jobs and supporting economic growth in Central Java.<\/p>\n The expansion comes as Indonesia seeks to strengthen its manufacturing base and move further up global value chains, while Singapore companies continue to look for opportunities in South-east Asia\u2019s largest economy.<\/p>\n Another area of growing collaboration is the BBK region, which both sides are positioning as a digital and technology hub.<\/p>\n Several data centre projects are already under way, including the expansion of Nongsa Special Economic Zone in Batam and new investments by data centre operators DayOne and PT Equator Gate System in Batam, as well as DCI Indonesia in Bintan.<\/p>\n The study that Singapore and Indonesia will jointly commission will help to develop recommendations to attract more investment.<\/p>\n Cooperation in the green economy is being stepped up as well.<\/p>\n Among the projects highlighted is a partnership between Singapore\u2019s Sembcorp and Indonesian firm PT Sumber Energi Surya Nusantara (SESNA) to develop a solar facility featuring a 200 megawatt solar installation and an 80 megawatt-hour battery energy storage system.<\/p>\n Once completed, the project is expected to be among Indonesia\u2019s largest utility-scale solar developments.<\/p>\n The two countries are also collaborating on Indonesia\u2019s first biogas-to-biomethanol pilot project in North Sumatra, through a partnership involving Singapore-based CRecTech and Indonesian state energy company Pertamina.<\/p>\n In the agriculture sector, the inaugural Young Farmers Development Programme will begin later in June. The initiative aims to strengthen collaboration in agritech and help develop a new generation of farmers equipped with modern agricultural skills.<\/p>\n Under the programme, 13 high-potential young Indonesian farmers and two Indonesian Agriculture Ministry officials will undergo a week-long training programme in Singapore, where they will be exposed to agricultural best practices and agritech innovations.<\/p>\n Speaking to reporters after the talks, Gan was asked about Indonesia\u2019s plans to centralise all strategic commodity exports under a new state-controlled entity.<\/p>\n The plan, announced by Indonesian President Prabowo Subianto on May 20, will see a new state entity take charge of overseas sales of coal, palm oil and ferroalloys, and may expand to other strategic natural resources.<\/p>\n Every country has its own concerns and priorities, said Gan, adding that Singapore will work together with Indonesia to ensure it continues to be an attractive investment destination for Singapore and its investors.<\/p>\n In 2025, Singapore remained Indonesia\u2019s top source of foreign direct investment, with a contribution of US$17.4 billion (S$22.4 billion).<\/p>\n \u201cWe will continue to also work with Singapore businessmen, to find a way to work with Indonesia, to make sure there are exports to Indonesia, and our access to Indonesia\u2019s exports will continue to flow freely,\u201d Gan said.<\/p>\n Responding to a question about Indonesia\u2019s plans to establish an international financial centre in Bali, Gan said that strong financial hubs would benefit both countries and the wider region.<\/p>\n Indonesia has in recent months stepped up efforts to develop the Kura Kura Bali Special Economic Zone in Serangan, Bali, into an international financial centre.<\/p>\n \u201cWe look forward to working with Indonesia to develop the financial centres, both in Indonesia and in Singapore. Singapore is a very small, open country. Our economy depends on the economy of the region,\u201d said Gan.<\/p>\n \u201cWhen the region is able to do well, Singapore\u2019s economy will do well. It is also in our interest to make sure that Indonesia has a very strong financial centre and very strong economic fundamentals.\u201d<\/p>\n<\/div>\n JAKARTA \u2013 Singapore and Indonesia will conduct a joint study on the technology sector in the Batam, Bintan and Karimun (BBK) region to identify future…<\/p>\n","protected":false},"author":1,"featured_media":59510,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[2611],"tags":[],"class_list":["post-59509","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buzz-headlines","wpcat-2611-id"],"_links":{"self":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts\/59509","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=59509"}],"version-history":[{"count":0,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts\/59509\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/media\/59510"}],"wp:attachment":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=59509"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=59509"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=59509"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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