Indonesia, Singapore launch Kendal Industrial Park

President Joko Widodo, along with Singapores Prime Minister Lee Hsien Long, launched the Kendal Industrial Park in Central Java Province as a new model of bilateral economic relationship.

“Prime Minister Lee and I agreed that the investment cooperation in Kendal Industrial Park marks a new milsestone in our bilateral relationship, particularly in the investment sector,” Jokowi said in a joint press statement here on Monday.

Both heads of state also discussed the potential for more such bilateral investments, as Jokowi believed there was a big opportunity to further develop this economic cooperation.

The president also stated that Indonesia was committed to improve its competitiveness to become an investment destination country.

“During discussions, I explained that we are continuously reforming the economic and legal sector to improve Indonesias economic competitiveness,” Jokowi added.

Jokowi reminded that both Indonesia and Singapore are also enhancing cooperation in the tourism sector by developing new tourism destinations in Indonesia.

Indonesia hopes that a range of Memorandums of Understanding (MoU) that have been signed would lead to more effective cooperation in the tourism sector.

Jokowi noted that Singapore also supports Indonesia on several regional and international issues such as counter terrorism measures as well as in the South China Sea dispute.

“Singapore is an important partner of Indonesia in many sectors. Indonesia and Singapore will also celebrate the 50th year of their diplomatic relationship,” Jokowi noted.

A project being built in Central Java through bilateral cooperation will create about 4,000 jobs.

Prime minister Lee underlined that many Singapore companies have been investing in Indonesia, not only in the free trade areas of Batam-Bintan-Karimun (BBK) in Riau Islands, but also in other areas in the country.