Minister invites Singapore to further intensify economic cooperation

Minister invites Singapore to further intensify economic cooperation

Minister for State-Owned Enterprises of the Republic of Indonesia Erick Thohir (left) holds a meeting with Singapore's Foreign Affairs Minister Vivian Balakrishnan. Documentation of Ministry of State-Owned Enterprises.

Jakarta (ANTARA) - Minister for State-Owned Enterprises of the Republic of Indonesia, Erick Thohir, invited Singapore to further bolster economic cooperation.

"President Joko Widodo has formed and appointed professionals to handle Indonesia's sovereign wealth funds called the INA. Many projects are prepared and are very prospective because they will provide good returns," Thohir noted in a statement received in Jakarta, Saturday.

While striving to control the COVID-19 pandemic, Erick expounded that the government had unswervingly striven to drive the economy. In the next three years, State-Owned Enterprises (BUMN) will have 88 large projects or investments to be carried out.

To this end, the minister has invited Singapore to collaborate to revive the economy. Singapore can get involved because the government is open to cooperation with countries and entrepreneurs from abroad.

A total of 13 meetings were held by Thohir on Friday (Feb 19). Apart from meeting three Singaporean officials, Minister of Foreign Affairs Vivian Balakrishnan, Minister of Trade and Industry Chan Chun Sing, and Chairman of the Economic Development Board Beh Swan Gin, Thohir, who was accompanied by Deputy Minister of BUMN Kartika Wirjoatmodjo and Director of Bank BNI Silvano Rumantir, met with Singaporean businessmen, such as the CEO of Changi Airport, CEO of Singapore Airlines, CEO of Singtel, and CEO of the Central Provident Fund Board.

The BUMN minister highlighted to high-ranking Singaporean officials the energy, tourism, and financial sectors as the three areas for cooperation. The minister expressed optimism that this offer would be considered and further discussions would ensue for its implementation.

On a separate occasion, Singaporean officials lauded Indonesia in its handling of the COVID-19 pandemic. Indonesia’s initiative to procure the COVID-19 vaccine at the earliest is considered to be the right step.

“It is nice to meet my friend, State-Owned Enterprises Minister Erick Thohir, in Singapore today. Mr. Erick has a wide and heavy portfolio, and I am delighted that he can visit Singapore and discuss mutually beneficial cooperation,” Foreign Affairs Minister Vivian said in his note on Facebook.

Singapore welcomes the offers for boosting cooperation in the economic field. Cooperation in the three fields conveyed by the BUMN minister is not only possible but can also provide benefits for stepping up bilateral economic cooperation.

“Mr. Erick and I reaffirm our strong bilateral relationship, including in the economic field. I am pleased that in the midst of the challenges posed by the COVID-19 pandemic, both parties continue to create opportunities for businesses in the two countries to make new breakthroughs together and advance cooperation between Indonesia and Singapore,” Foreign Minister Balakrishnan stated. Related news: Singapore remains largest investor in Indonesia in 2020: BKPM
Related news: Jokowi discusses investment cooperation with Singapore parliament


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