Singaporean investments in Indonesia has been increasing. Last year, the figure hit US$9.2 billion, an increase of 55% from 2015.
Singapore Business Federation [SBF] chairman Teo Siong Seng said that Indonesia was the overseas market with the highest interest among the Singaporean business community. “This is no surprising, as many economic indicators are pointing to Indonesia’s positive gross domestic product growth and huge market potential,” said Mr Teo.
Holding up Indonesia’s strong economic potential and improved business environment, the “10 new Balis” will open up vast opportunities for #Singaporeinvestors in tourism and infrastructure projects.
In tandem with the expected growth, 120,000 hotel rooms, 15,000 restaurants, 100 international recreational parks and 100 diving operators will be added to the destinations, said Indonesia’s tourism minister Arief Yahya, who was speaking at the Singapore-Indonesia Investment Forum. Other infrastructure will also be built, such as solar facilities to boost the power sources, said Mr Yahya.
In total, the Indonesia government is seeking US$20 billion (S$26.8 billion) in investment for the initiative, with half of it going to public infrastructure investment. Urging Singapore businesses to invest in Indonesia, Mr Yahya said that more than 90 per cent of the tourism industry will welcome foreign direct investment.
Source Article :