Indonesia invites Singapore to invest in digital economy sector

President Joko Widodo (Jokowi) has invited Singapore investors to invest in Indonesias two growing sectors, namely digital economy and tourism.

"To date, eight of the worlds 13 largest companies are engaged in the technological field. Of course, this is a historic opportunity in the current digital revolution," he stated in his keynote address to Indonesia-Singapore Business Forum at Marina Bay Cruise Center in Singapore on Thursday.

According to the president, Indonesia is currently enjoying a period of robust e-commerce industry and digital start-ups, with a total value of an estimated US$1 billion.

"In view of our large domestic market, such companies will still emerge in the years to come. Hence, we must rearrange relations between Indonesia and Singapore to respond to the digital revolution," he noted.

The Indonesian city of Batam, which is close to Singapore, must be able to supply digital products to the island state, he remarked.

Batam is expected to serve as a digital bridge to link Singapore to other digital communities in various Indonesian cities, such as Jakarta, Bandung, Yogyakarta, and Bali, in future, he explained.

In the tourism field, the president revealed that both countries have an equal chance as a result of a surge in the number of middle-class people in China, India, and some countries in Asia and the Pacific, he stated.

"As a result of the booming tourism industry, Indonesia has introduced a program called "Ten New Bali," he added.

He expressed hope that Singapore, which is a hub for regional airlines, will serve as a gateway for foreign tourists to visit Indonesia.

"In the next 12 months, airports near Lake Toba in North Sumatra and Labuan Bajo, Komodo Island will be upgraded to international airports," he concluded.

Source: ANTARA