Committee of Supply 2023 debate, Day 2: Maliki Osman on investment cooperation with Indonesia

Indonesia is a natural investment destination for Singapore, as the largest economy in ASEAN and an immediate neighbour, said Second Minister for Foreign Affairs Maliki Osman in Parliament on Monday (Feb 27). He said Singapore has maintained its position as the largest foreign investor in Indonesia since 2014. Recently, it has stepped up collaboration, especially with nearby Batam and Bintan, including establishing new data centres and efforts to develop tech talent which will support the rapidly growing tech sectors in both countries. Indonesian companies are also keen to boost exports to Singapore in the agri-food and energy sectors, aligning with Singapore’s efforts to strengthen food security. On Malaysia, Dr Maliki said there has been a “high tempo of two-way exchanges and visits” in recent months, and Singapore will devote considerable resources to deepening links with various Malaysian states. He added that Singapore is working with ASEAN to enhance regional economic integration and the regional bloc is looking at how best to harness digital technology to transform Southeast Asian economies. Dr Maliki also elaborated on Singapore’s ties with other countries in the region and beyond.

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