Singapore to Strengthen Investment in Indonesia, Lawrence Wong Highlights BBK and Green Energy

Singaporean Prime Minister Lawrence Wong has affirmed his country’s commitment to continuously increasing investment in Indonesia, reflecting the close economic ties between the two nations. He stated that Singapore’s confidence in Indonesia’s economic prospects is demonstrated by the consistent flow of investment and the development of various strategic projects. Wong made these remarks following the annual Singapore-Indonesia Leaders’ Retreat with President Prabowo Subianto at the Merdeka Palace in Jakarta on Monday (6/7/2026). During a joint press statement, Wong said the bilateral relationship is built on a foundation of trust and mutual interest, and Singapore is committed to remaining a key investment partner for Indonesia. ‘We have great confidence in Indonesia’s future. We want Indonesia to succeed because our futures are closely intertwined. Our confidence in Indonesia is reflected in our actions. That is why Singapore has consistently invested in Indonesia over the years, and we will continue to do so,’ he stated. He noted that Singapore’s investments contribute not only capital but also to business development, downstream industries, digital infrastructure, and job creation in Indonesia. Wong highlighted that Singaporean companies continue to see many opportunities, particularly in the Batam, Bintan, and Karimun (BBK) area, which is developing as a digital economy hub. He also pointed to the Kendal Industrial Park, which is celebrating its 10th anniversary this year and has reached full capacity, prompting a planned expansion of approximately 1,000 hectares to accommodate new investment. In the energy sector, Wong stressed Singapore’s desire to be a strategic partner in Indonesia’s renewable energy development, noting that recent global geopolitical dynamics underscore the importance of energy diversification and security. He cited the development of one of Indonesia’s largest solar power plants in Morowali, Central Sulawesi, to supply clean electricity to industrial estates. Concurrently, Indonesia and Singapore signed a Memorandum of Understanding (MoU) between Danantara and Keppel Electric, Sembcorp Industries, and Singapore Energy Interconnections, establishing a roadmap for cross-border electricity trading projects. Wong expressed confidence that such projects represent a win-win solution and will serve as a crucial foundation for the broader ASEAN Power Grid, strengthening energy resilience across the region. Beyond trade and investment, the two nations agreed to enhance supply chain resilience and expand collaboration in advanced technology and the digital economy. Singapore remained Indonesia’s largest foreign investor in 2025, with investment value reaching US$17.4 billion, placing it ahead of China, Hong Kong, and the United States.