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Tech-X and seamless mobility for stronger economic connectivity
Dong Jin Textile, a South Korean textile company, conducted the groundbreaking of its factory in Kendal Industrial Park, Central Java, together with Coordinating Minister for the Economy Airlangga Hartarto and Singapore's Minister of Trade and Industry Gan Kim Yong.
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ong Jin Textile, a South Korean textile company, conducted the groundbreaking of its factory in Kendal Industrial Park, Central Java, together with Coordinating Minister for the Economy Airlangga Hartarto and Singapore's Minister of Trade and Industry Gan Kim Yong. This joint industrialization initiative among the three countries comes at a time when international economic cooperation faces strong headwinds due to the rise of protectionist policies in major economies. The two ministers enthusiastically dug up a piece of earth with a spade as a symbol of the start of the construction of the high-tech South Korean textile factory in an industrial area where Singaporean corporations are investing. This new development clearly shows Indonesia’s textile industry has great potential to attract further investment, according to Airlangga.
On the sidelines of the 55th ASEAN Economic Ministers Meeting, Airlangga and Yong met each other in Semarang, Central Java, to co-chair the 13th Indonesian-Singaporean economic cooperation ministerial meeting. The countries are collaborating toward developing Indonesia’s and Singapore’s economies in key sectors and developing breakthrough initiatives for enhancing connectivity. The ministers tasked six working groups (6WG) to advance priority activities, in the areas of developing the Batam-Bintan-Karimun (BBK) area and special economic zones (KEK), investment, employment, agribusiness, transportation and tourism. As its closest neighbor, Singapore is Indonesia's largest investment partner as well as a strategic hub for regional trade connections through air and sea transportation.
Every year the 6WG bilateral cooperation platform aims to deliver a breakthrough. Last year 6WG launched a digital and technology-skilled youth workforce exchange program named Tech-X. Fresh graduates from both countries exchange work experience through internships in their respective corporations for one year or more. With the growth of digital and technology-based businesses, especially during the pandemic and the rise of start-ups, Tech-X supports the millennial workforce in both countries. For Indonesia’s digital talent, it opens new opportunities to seek experience for internships based in Singaporean businesses, while Indonesia itself is a haven for developing SME-based start-ups that are of interest to Singaporean talent. In addition to skills development, Tech-X also focuses on exchanging workplace practices and examining the future of work for talented university graduates.
At this year's ministerial meeting, 6WG launched innovations for expanding cross-border mobility for citizens of Indonesia and Singapore. A new golden visa with a longer validity will now be available to the people of the two countries to enjoy easier access, enabling a new age of cross-border mobility to facilitate investment and business. This will deliver benefits, especially among businesspeople, experts and specialists. Moreover, with the growing development of technology-based industries and businesses in Indonesia, it will enable access to specialists who are ready to come to support Indonesia’s development if needed in certain situations. Providing cross-border access with a new mechanism will also make it easier for Tech-X program participants.
In addition, 6WG is expanding mutually beneficial cooperation in biotechnology, agribusiness standards, air transportation connectivity, ports, poultry and processed chicken exports, including investment in potential tourism areas such as Belitung for cruise ship passengers. The ministers agreed to boost innovation and technological cooperation by leveraging the proximity and comparative advantages of the two countries. This effort will help to continue opening economic opportunities for families, businesses and communities.
This article was published in collaboration with Coordinating Ministry for Economic Affairs Republic of Indonesia
