"Investment opportunities in Indonesia are too good to pass up. After my 10th month in Singapore, I have received not only Singaporean companies, but also Bahraini, Chinese, Japanese, South Korean, and Emirati companies inquiring me on business and investment opportunities in Indonesia," Pratomo said during the UOB Economic Outlook 2022 webinar, accessed from Jakarta on Wednesday.
To accommodate the high level of interest among international corporations, the embassy has established a business connect centre to assist interested corporations in investing in Indonesia, he informed.
Indonesia's productive age population is one reason why companies are keen to invest in the country, he noted.
Indonesia could also persuade the United States to divest the country's US$315 billion investment in Singapore to Indonesia, where vast undeveloped land is available for utilization, a clear advantage over Singapore's limited land availability, Pratomo said.
The Singapore market is the only major Asian market with assured political stability after the recent political unrest in Hong Kong, which may dissuade potential investments in the region, he noted.
By attracting just one percent of the US$4 trillion investment parked in Singapore, the region gaining the investment would benefit greatly, the ambassador said.
"If we successfully persuade investors to divest even only a percent from the total financial asset in Singapore, it would greatly benefit us, and our natural and human resources would all be advantaged. Indonesia also has the potential to be the fourth or fifth major economy in 2050 -- a target we should pursue from now on," Pratomo added.
With the Law on Job Creation passed in mid-2020, Indonesia has sufficient legal basis to enhance potential resources available for investment, he pointed out.
"We have readied the legal basis, and now it is up to us to be creative and innovative to participate in the global market," Pratomo remarked.
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