The Embassy of the Republic of Indonesia in Singapore, in collaboration with the Indonesia Investment Promotion Center (IIPC) – Singapore, a representative of the Investment Ministry/BKPM, alongside Enterprise Singapore, with full support from OUE, UOB, Mandala Consulting, as well as several Chambers of Commerce including the Singapore Business Federation (SBF), Singapore Chinese Chambers of Commerce and Industry (SCCCI), Singapore Manufacture Federation (SMF), and Singapore International Chambers of Commerce (SICC), along with media partners The Straits Times and Channel News Asia, hosted a business forum titled “Beyond the Ballot: Shaping the Future of Business and Investment in Indonesia.”

The event, held at Hilton Singapore Orchard on 27 March 2024, aimed to bolster economic relations between Indonesia and Singapore. This event occurred shortly after the Indonesian General Election Commission (KPU) announced the results of the 2024 Presidential Election. This forum served as an effective platform for Singapore-based entrepreneurs to anticipate the direction of Indonesia’s economic policy in the future.

Ambassador of the Republic of Indonesia to Singapore, Suryo Pratomo, emphasized the increasingly strong relationship between the two countries, stating that Singapore’s significant investment in Indonesia highlights the solid relationship between the two nations in fostering a strong and dynamic business ecosystem.

Attended by 400 participants from various sectors including business, government, think tanks, banking, and several foreign ambassadors, the forum featured Indonesian Coordinating Minister for Economic Affairs, Airlangga Hartarto, and Singaporean Minister for Trade and Industry, Gan Kim Yong, delivering speeches highlighting the importance of bilateral relations and the future cooperation between the two nations.

The panel discussions, moderated by Jaime Ho from The Straits Times and Dawn Tan from Channel News Asia, delved into policy projections, particularly concerning business and investment in Indonesia under the new administration. The first session, themed “Economic Landscape and Policy Direction in the New Administration Era,” featured speakers such as 

1. Drajad Hari Wibowo – Economist at INDEF

2. Chair of the Prabowo-Gibran Expert Council 

3. Muhammad Lutfi – former Minister of Trade (2020-2022)

4. Jimmy Koh – Managing Director of Network Partnership and Strategic Marketing, Group Foreign Direct Investment Advisory at UOB

5. Philips Vermonte – Senior Fellow of CSIS. 

The session also included insights from Bambang Susantono, Head of the Capital City of Nusantara, who elaborated on the progress of Nusantara Capital development, inviting Singaporean investors to participate in its development.

In the second session, titled “Investment Opportunities under the New Leadership,” Thomas Oentoro – Chief Risk Officer (CRO) of the Indonesia Investment Authority (INA), and Eunice Koh – Assistant CEO of Enterprise Singapore, explored the investment landscape and identified future investment opportunities.

Source: Ministry of Foreign Affairs