Indonesia lauds Singapore’s continued support during pandemic

Jakarta (ANTARA) – Coordinating Minister for Economic Affairs, Airlangga Hartarto, has praised the Singapore government for its continued support to Indonesia during the COVID-19 pandemic.
In a written statement released here on Wednesday, he also lauded the rapidly growing bilateral cooperation between the two neighboring countries during Prime Minister Lee Hsien Loong’s term.
Prime Minister Lee has announced Finance Minister Lawrence Wong as his successor. Wong has been elected the leader of the ruling People’s Action Party’s (PAP’s) fourth-generation (4G) team, paving the way for his appointment as the city-state’s next prime minister. “As a main partner in terms of investment and trade, we hope we can raise our bilateral trade and investment to a higher level than now after the pandemic is brought under control and our economy continues to recover,” Hartarto said.
Indonesia has continued to improve the investment climate and conduct reforms, such as the enactment of the job creation law and the adoption of the Online Single Submission (OSS) system, he noted.
Singapore is currently the largest foreign investor in Indonesia. In 2021, US$9.3 billion in foreign direct investment (FDI) flowed from Singapore to Indonesia for more than 16,760 projects.