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Embassy seeks updates on Batam investment prospects
The Indonesian Embassy in Singapore has recently conducted a coordination meeting with the Batam Free Trade Zone Management Agency (BP FTZ) to get updates on investment prospects in Batam, Riau Islands province
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he Indonesian Embassy in Singapore has recently conducted a coordination meeting with the Batam Free Trade Zone Management Agency (BP FTZ) to get updates on investment prospects in Batam, Riau Islands province.
Embassy spokesman Simon DI Soekarno told The Jakarta Post via text message on Wednesday that the meeting was held on Saturday.
'Indonesian Ambassador to Singapore Andri Hadi personally led the embassy team to help promote Batam as a special economic zone,' he said.
'We also wanted to get updates concerning the special economic zone, which absorbs most of Singaporean investment in Indonesia.'
Simon said the meeting was not related to Singaporean investors being anxious regarding issues, such as minimum wage and the conversion of developed areas into forests.
He said that the meeting was held in order to gather comprehensive information about Batam's prospects in the future.
The closed door meeting was attended by BP FTZ chairman Mustofa Widjaja. Such meeting would not have taken place if there were no serious issues to be discussed.
Meanwhile, BP FTZ spokesman and One-Roof Integrated Services (PTSP) director Dwi Djoko Wiwoho said that the meeting discussed various issues including investment promotion programs, sociocultural relations along with other programs, which could be developed to assist the province and Batam in
particular.
'There were questions on various current investment issues, such as land conversion into protected forests and labor issues,' he said.
'We provided complete information on the issues so that the Indonesian Embassy in Singapore received clear information on the issues.'
Djoko also said that those who attended the meeting agreed to increase cooperation between Indonesia and Singapore as an effort to increase diplomatic relations.
'We expect that the relations between BP FTZ and the embassy will continue to increase economic growth in our regions,' he said.
Based on BP FTZ data, there have been 1,688 foreign direct investments in Batam with a total value of US$6.63 billion since 1971.
As of 2012, Singapore was the biggest investor in Batam with 427 projects worth some $1 billion. For joint venture projects with Indonesia, the value was $1.57 billion.
The leading sectors are electronics manufacturing and shipbuilding.
