Indonesia, Singapore discuss investment at Kendal IP

Jakarta (VNA) – Indonesian President Joko Widodo on July 19 met with Singaporean Deputy Prime Minister Teo Chee Hean in Jakarta to discuss a number of issues, including investment at the Kendal Industrial Park (KIP), reported Indonesia’s news agency Antara.

The KIP is jointly developed by Indonesia’s industrial estate developer PT Jababeka and Singapore’s Sembcorp Development on an area of 2,700 hectares. As of September 2017, the project had 32 confirmed tenants and committed investments worth 475 million USD.

The KIP is a giant project, involving timber industry polytechnic, Indonesian Foreign Minister Retno Marsudi, who accompanied Widodo during the meeting, told the press on the same day. That is why the project gets significant attention from the government of Indonesia.

In addition to updating the number of companies invested in KIP, Widodo and Hean also discussed Singaporean investment in Indonesia’s tourism sector, according to the Antara.

The Singaporean Deputy PM’s visit to Indonesia is not only for discussion on issues related to trade and investment between the two countries but also in preparation for the Singapore – Indonesia Leaders’ Retreat later this year, Indonesian Foreign Minister Retno Marsudi said.

The Leaders’ Retreat is scheduled to be held on October 11, before the International Monetary Fund-World Bank meeting from October 12 – 14 in Bali, Indonesia. –VNA