Singapore Prime Minister Lee Hsien Long made this commitment here on Monday during a joint press statement with President Joko Widodo.
Both the heads of state conducted a bilateral meeting in Wisma Perdamaian in Semarang City.
Lee also appreciated the warm reception accorded by the people of Semarang as well as by the local administration.
"It was my first official meeting with President Jokowi. Indonesia is a close partner and neighbor of Singapore. The meeting was a good opportunity for us to discuss on ways to expand our relationship," Lee observed.
The Prime Minister stated that his country was also keen to expand cooperation in areas in Batam, Bintan and Karimun.
Singapore is also interested to invest in Indonesias 35,000 Megawatt electricity program.
Additionally, Singapore also agreed to establish an Indonesia-Singapore Business Council to increase business and investment between the two countries.
Lee noted that both countries have the potential to increase the number of tourist visits to each country by opening a cruise ship line.
Besides, Lee and Jokowi also discussed security issues, including counter terrorism measures.
Jokowi and Lee launched an industrial estate, the Kendal Industrial Park, in Central Java Province as a new icon of bilateral economic relationship.
A project being built in Central Java Province through bilateral cooperation will create about 4,000 jobs.
Coordinating Minister for Maritime Affairs Luhut Binsar Panjaitan, Minister/State Secretary Pratikno, Tourism Minister Arief Yahya, and the Head of Capital Investment Coordinating Board (BKPM), Thomas Lembong, accompanied the president during the visit.(*)