Indonesia And Singapore Strengthen Economic Recovery Cooperation

President Joko Widodo received a visit from Singapore's Prime Minister (PM) Lee Hsien Loong, at The Sanchaya Resort Bintan, Bintan Regency, Riau Islands./PHOTO VIA ANTARA- BPMI Setpres

JAKARTA - President Joko Widodo delivered his meeting with Singaporean Prime Minister Lee Hsien Loong in Bintan, Riau Islands, to discuss a number of things, including strengthening cooperation in economic recovery and recognizing vaccines.

"First of all, I would like to welcome back to Indonesia to PM Lee Hsien Loong and his delegation. My meeting with PM Lee discussed efforts to strengthen bilateral cooperation in various fields, especially in the economic field, and exchange views on various issues in the region, "President Jokowi said in a virtual press statement reported by Antara, Tuesday, January 25.

The President said that in terms of strengthening economic recovery cooperation, Singapore is the largest investor in Indonesia. Singapore's investment in Indonesia from January to September 2021 is worth USD 7.3 billion.

According to Jokowi, the retreat meeting noted new investments worth USD 9.2 billion, including in the field of new and renewable energy around Batam and Sumba Island and West Manggarai, NTT, as well as the construction of a logistics hub at the Tanjung Priok Port.

"Investment in energy and renewable energy continues to be a priority for the Indonesian government in order to promote a green and sustainable economy," said the President.

To support a green investment climate, said Jokowi, a number of MoUs have been signed in the series of retreat meetings.

In a series of meetings, the MoU for energy cooperation was signed, then the MoU for cooperation in green and circular economy development was signed.

"In addition, in order to continue to maintain financial and monetary stability to support economic recovery, several collaborations have also been signed, including the MoU on financial cooperation and in November 2021 the local currency bilateral swap agreement and bilateral repo line cooperation have been extended by 1 year," said the President.

President Jokowi also hopes that the MoU between central banks related to payment innovation, anti-money laundering, and prevention of terrorism financing can be signed soon.

"In addition, in order to support safe human mobility, the two countries are currently finalizing cooperation on vaccine recognition and synchronization of interoperability of tracking and protection platforms owned by the two countries," he said.