JAKARTA The President of the Republic of Indonesia, Prabowo Subianto, is pushing for strategic cooperation between Temasek Holdings, a state-owned investment company in Singapore, and Danantara, Indonesia's newly formed sovereign wealth fund (SWF), to strengthen the green energy sector and develop sustainable industrial estates.
The push was conveyed by Prabowo in a high-level Leaders' Retreat meeting with Singaporean Prime Minister Lawrence Wong at Parliament House, Singapore, Monday, June 16, quoted from the official statement of the State Secretariat (Setneg).
"We look forward to the close collaboration between Temasek and Danantara, especially in the renewable energy sector, sustainable industrial areas, as well as the development of the Batam, Bintan, and Karimun areas in the low-carbon energy sector and critical infrastructure," said President Prabowo.
The Danantara, which was launched as a state-owned strategic endowment fund, is referred to by Prabowo as Indonesia's 'future energy'. This fund is focused on long-term investments in clean energy transition projects and the development of environmentally friendly industrial areas.
In his remarks, President Prabowo also appreciated Singapore's contribution as the main investment partner. In 2024, Singapore will account for about a third of the total foreign direct investment (FDI) in Indonesia.
"Thank you for the trust that has been given to us. We are committed to strengthening this collaboration and partnership even further," Prabowo said.
Beyond economic issues, President Prabowo also highlighted the importance of adopting the best practices from Singapore, ranging from affordable residential development, transparent management of state funds, to cultural diplomacy such as Orchid Diplomacy.
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In a symbolic moment, Prabowo had the honor of naming a new orchid variety under the name of his mother a touching form of appreciation and being part of Singapore's diplomatic tradition.
"I learned from Singapore and I think Singapore has started many successful policies," Prabowo said closing his statement.
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