1. Senior Minister of State for Trade & Industry and Education Chee Hong Tat visited Palembang and Medan, Indonesia from 13 to 16 August 2019, to reaffirm the strong bilateral ties and explore opportunities for greater economic cooperation with these regions.
2. Mr Chee said, “Singapore and Sumatra enjoy warm relations, as well as strong people-to-people and economic ties. Cities like Palembang in South Sumatra and Medan in North Sumatra have sizeable middle class populations which offer opportunities for Singapore companies in sectors such as consumer business, infrastructure, trading and tourism. We welcome companies from Sumatra to invest in Singapore as part of their plans to expand into other cities in Asia.”
3. In Palembang, Mr Chee met South Sumatra Governor Herman Deru where they discussed opportunities for Singapore companies to be part of South Sumatra’s development in sectors such as infrastructure and urban solutions. Mr Chee also congratulated him on Palembang’s successful co-hosting of the 2018 Asian Games.
4. In Medan, Mr Chee met North Sumatra Governor Edy Rahmayadi where they noted the close economic links between Singapore and North Sumatra, and discussed opportunities to deepen these links as North Sumatra continues to develop in sectors such as urban infrastructure. They also spoke on the Indonesian government’s plans to develop Lake Toba as a tourist destination and Singapore companies’ interest to participate in these developments, such as in the areas of infrastructure development and hospitality.
5. Mr Chee also met local business leaders in Palembang and Medan where they exchanged views on the state of Indonesia’s economy, prospects for future growth and potential economic partnerships with Singapore.
6. During his visit, Mr Chee also attended Medan Mission’s National Day Reception on 15 August 2019. At the reception, Mr Chee highlighted the longstanding friendship and deep historical ties between Singapore and Sumatra and areas for future bilateral cooperation.
7. Singapore and Indonesia share close trade and investment linkages. Trade between Singapore and Indonesia amounted to S$65.0 billion in 2018, increasing by 9.4 per cent from the previous year. Singapore was also Indonesia’s top investor from 2014 to 2018, with investments spread across a wide range of sectors such as manufacturing, energy, and logistics.
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MINISTRY OF TRADE AND INDUSTRY
16 AUGUST 2019