According to a press release from the Indonesian Embassy in Singapore on Wednesday, some 250 businessmen from Singapore gathered at the Hotel Mandarin Orchard to attend a business meeting themed "Indonesia-Singapore Business Partnership 50 Years and Beyond" on Tuesday.
The event to commemorate the 50th anniversary of diplomatic relations between the two countries offers the necessary momentum to boost economic cooperation in the midst of the continuing sluggish global economy.
This momentum was supported by a significant increase in Singaporean investment in the last 10 months in 2016, totaling US$7.1 billion, or 44 percent as compared to that in the previous period.
Organized jointly by the Indonesian Embassy in Singapore and Singapore Manufacturing Federation, the business meeting was inaugurated by Singapores Trade and Industry Minister Lim Hng Kiang and the Indonesian deputy foreign affairs minister.
Members from the Industry Ministry, Capital Investment Coordinating Board, Indonesian Chamber of Commerce and Industry, and Singapores business players addressed the meeting.