He noted that Indonesia was Singapore's fifth- largest trading partner, with total bilateral trade of $58.5 billion, and that the two countries had consistently been among each other's top trading and investment partners.

According to the Indonesia Investment Coordinating Board (BKPM), Singapore was Indonesia's top source of realised investment, accounting for almost US$4.4 billion (S$6 billion) last year.Mr Lim suggested that Singapore companies consider casting their nets wider when looking to invest in the country.

'While Singapore's investments have traditionally flowed into Jakarta and the Batam-Bintan region, companies have also recognised the potential of the larger Indonesian market and have invested in other regions of Indonesia in recent years,' he said.

He cited two companies that have successfully done so - Keppel Land, which has developed a retail mall in Surabaya, and Killiney Kopitiam, which runs several outlets in Medan.Each of Indonesia's regions, he added, offered different business opportunities for companies here.

Urbanised cities such as Jakarta, Surabaya and Bandung are ideal for food and beverage, retail, telecommunications, banking, real estate, and logistics industries.And resource-rich cities such as Balikpapan and Makassar have growth potential for downstream products and services, including engineering, logistics, processing, hospitality and urban infrastructure.


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