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Singapore and Indonesia Review Progress in Developing SEZs in Batam, Bintan and Karimun

29 August 2007

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SINGAPORE AND INDONESIA REVIEW PROGRESS IN DEVELOPING SEZs IN BATAM, BINTAN AND KARIMUN

Bali, 29 August 2007 — Ministers from Singapore and Indonesia met in Bali today for the 5th Joint Steering Committee (JSC) meeting on economic cooperation in Batam, Bintan and Karimun (BBK).This continues a series of regular meetings under the Framework Agreement, signed on 25 June 2006, to develop special economic zones (SEZs) in the Indonesian islands of BBK.

At today’s meeting, the JSC was updated on progress in several areas. These include regulations introduced by the Indonesian government on 20 August 2007 to designate Batam and parts of Bintan and Karimun as Free Trade Zones (FTZs).This paves the way for local authorities to have more autonomy in some policy areas with respect to the FTZs.

Indonesia is also establishing a BBK Advisory Council to discuss issues related to the investment climate in BBK. This will be helmed by the Governor of Riau Islands Province and the Chairman of Indonesia’s Investment Coordinating Board, and includes representatives from foreign and local investors.

In the area of capability development, Singapore’s Institute of Technical Education is training Batam Polytechnic trainers and managers as part of an initiative to launch a mechatronics course at Batam Polytechnic in January 2008. Singapore has also shared with Indonesian SEZ officials its experience in developing industrial parks and creating internationally competitive investment conditions.

The JSC expressed satisfaction with the overall progress made in the key areas being worked on, but reiterated the need to remain cognizant of international competitive pressures.

The Indonesian delegation comprised the Coordinating Minister for Economic Affairs, Minister of Trade, Minister of Industry, Minister of Manpower, Chairman of Indonesia’s Investment Coordinating Board and the Governor of Riau Islands Province.

The Singapore delegation was represented by the Minister for Trade and Industry, Minister for Manpower and Second Minister for Defense, Minister for Education and Second Minister for Finance, Minister in the Prime Minister’s Office, Senior Minister of State for Home Affairs and Law, and Chairman of the Economic Development Board.


MINISTRY OF TRADE AND INDUSTRY, SINGAPORE
29 Aug 2007

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