IE Singapore and KADIN Indonesia tie up to boost investments

The collaboration further opens opportunities for Singapore companies in utilities infrastructure, agri-processing and oil & gas.

International Enterprise (IE) Singapore and KADIN, the Indonesia Chamber of Commerce and Industry, on Thursday announced a joint work plan for promoting Singaporean investments into Indonesia. The work plan focuses on facilitating the growing opportunities in the utilities infrastructure, agri-processing and oil & gas sectors. 

It brings together government and business organisations from Singapore and Indonesia to jointly identify projects for both countries. Participating organizations include IE Singapore, KADIN Indonesia Komite Singapura (KIKS), the Singapore 

Business Federation, the Indonesia Investment Coordinating Board (BKPM) and Network Indonesia

Said Mr. Lee Yee Fung, Regional Director of South East Asia at IE Singapore, the lead agency driving Singapore’s external economy, “Indonesia can be a difficult market to break into if companies do not have the right partners and government support. Through this work plan, IE Singapore will address these challenges by institutionalising closer ties between the Singapore and Indonesian business community, creating a channel to help Singapore companies secure private and municipal-level projects.”

The work plan includes the formation of a working team between IE Singapore and KIKS to jointly assist Singapore companies seeking market entry into Indonesia. This will include connecting Singapore companies with government and private businesses in Indonesia as well as operational, licensing and regulatory advice. 

Opportunities highlighted in the work plan include projects in Indonesia’s key growth sectors:

• Utilities infrastructure: The rapid growth of the urban population in the regional cities has given rise to a demand for investments in utilities infrastructure as well as municipal-level water and waste management providers.
• Agri-processing: The need for value-adding downstream processing of natural produce has created opportunities for agri-processing investments in regions such as Java and Sulawesi.
• Oil & gas supporting industry: There is a rising demand for companies with engineering capacity and capabilities in the oil & gas support industry in East Java and East Kalimantan.

“Indonesia needs long-term investors and business to sustain its development. The sectors identified in the joint work plan are areas where Singapore companies hope to add value with their technical knowledge and expertise while creating jobs for local communities. In turn, we hope to gain a foothold into Indonesia’s top growth sectors,” added Mr. Lee.