REPUBLIKA.CO.ID, JAKARTA -- President Joko Widodo (Jokowi) held a meeting with Singaporean Deputy Prime Minister Teo Chee Hean to discuss a number of issues, including investment at the Kendal Industrial Park (KIP). The 2,700-hectare industrial park is jointly developed by Singapore's Sembcorp Development and Indonesia's industrial estate developer PT Jababeka, with 32 confirmed tenants and committed investments worth US$475 million as of September 2017.

"There are giant projects, such as Kendal Industrial Park, which involves timber industry polytechnic," Foreign Minister Retno Marsudi, who accompanied the president during the meeting, told the press in Jakarta on Thursday.

In addition to updating the number of companies invested in KIP, Jokowi and Hean also discussed Singapore's investment in Indonesia's tourism sector. The cruise route, which is currently being prepared and named Genting Dream, includes Singapore, Surabaya, and Bali.

Marsudi emphasized that the honorary visit of the Singaporean Deputy PM is also in preparation for the Leaders' Retreat later this year.

The Singapore-Indonesia Leaders' Retreat is expected to be held on Oct 11, before the International Monetary Fund-World Bank meeting between Oct 12 and 14, 2018, in Bali.

"Every year, we have an annual retreat to monitor developments; for example, the bilateral investment agreement negotiations have been carried out for four times. The last negotiation is planned for this year," Marsudi concluded.

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