BKPM Singapore Initiates Indonesia Investment Day 2018

On August 31, 2018, Indonesia Investment Day 2018 was held at the Marina Bay Sands Convention Center, Singapore. The event was a collaboration between the Indonesian Embassy in Singapore, BKPM Representative Office / The Indonesian Investment Promotion Center (IIPC) Singapore, Central Bank of Indonesia (BI) Representative Office in Singapore and Indonesian Chamber of Commerce and Industry (Kadin) Singapore Committee. As an integrated investment promotion, Indonesia Investment Day specifically showcasing the ready to offer investment potentials, including tourism destinations and tourism investment opportunities, and investment clinics.

The idea of arranging such event was initiated by IIPC Singapore which had successfully held the Indonesia Investment Forum in Malaysia for 3 consecutive years from 2016 to 2018, combined with one-on-one investment clinic and one-on-one meeting with ready-to-offer project developers in Indonesia. Through this experience, IIPC Singapore initiated the first Indonesia Investment Forum in Singapore by adding several agendas in addition to the forum, such as: the exhibition of ready-to-offer investment projects; the exhibition of Small and Medium Enterprises (SME) products from 10 provinces in Indonesia and 6 private sectors; the Memorandum of Understanding (MoU) signing between The Government of Singapore and Indonesian business practitioners; the business-to-business MoU signing; as well as the one-on-one investment clinic with BKPM, the Directorate General of Taxes and the Ministry of Manpower to provide one stop solutions for investors who are interested in investing in Indonesia.

More than 350 investors and businesses from Singapore and other countries enthusiastically attended the Indonesia Investment Day 2018 at Marina Bay Sands Convention Center, Singapore.

The event was opened by the Ambassador of The Republic of Indonesia to Singapore, H.E. Ngurah Swajaya, continued with video conference by Chairman of BKPM, H.E. Thomas Lembong, who explained the current condition of the Indonesia’s investment climate and the benefits of investing in Indonesia now.

Furthermore, the event then followed by the signing of business agreements between the enterprises such as: Indonesia Tourism Development Cooperation (ITDC) – Enterprise Singapore (ESG), Naza Holdings – Belitung Regency Government, Glexindo – Indonesian Fashion Chamber (IFC), Glexindo – Adisha Torre, AIMCO Pte Ltd – Adisha Torre, and ended with Metro TV – AIMCO Pte Ltd.

The investment forum was divided into 3 sessions as follow:

(1) the Panel Session, which presented the renowned speakers: Mr. Mirza Adityaswara, Senior Deputy Governor of Bank Indonesia, who explained about Indonesia’s macroeconomic conditions; Mr. Robert Pakpahan, Director General of Taxes who delivered the taxation policy in Indonesia and the incentives provided by the Indonesian government to the investors, especially the latest policy regarding tax holidays; Mr. Imam Soejoedi as the BKPM Director for Investment Sectors Promotion who conveyed the new mechanism of investment licensing through the OSS System; and Mr. Summit Dutta as Country Manager and Chief Executive of HSBC Indonesia together with Mr. Setyono Djuandi Darmono as President Director of Jababeka, who gave their testimonials about investing in Indonesia.

(2) the presentation of several ready-to-offer projects from Batam, Central Java, East Java, North Sulawesi, Bali and Lombok.

(3) the One-on-One Investment, Tax, and Labor Clinic which was hosted together by IIPC Singapore, Directorate General of Taxes from the Ministry of Finance and the Ministry of Manpower. The One-on-One Clinic was opened during the implementation of Indonesia Investment Day 2018.

Booths in the exhibition area offered the investment potentials from West Java, Central Java, East Java, North Sumatra, East Kalimantan, North Sulawesi, East Nusa Tenggara, and Riau Islands. The presence of the Indonesia’s regional governments was coordinated by IIPC Singapore, BI representative in Singapore and the BI Regional Offices in their respective regions. There were 49 ready-to-offer investment projects from these regions with a total value of more than USD 3 billion. More than 52 Singaporean and other foreign companies held individual meetings to explore these investment opportunities and also consult on technical issues related to Investment, Tax and Labor Clinic. Hundreds of investors were also participated in the event by coming directly (walk-in) and observed the investment opportunities offered by the Provincial Booths.

The integrated investment promotion event was intended to be the “one-stop-event” and expected to encourage investors in taking advantages from the investment momentum, because according to BKPM data, in the first semester of 2018, the investment realization from Singapore has reached USD 5.04 billion or increased by 38 percent compared to the last year achievement in the same period. Moreover, this event brought investment commitments worth more than USD 670 million.