Indonesia, Singapore to jointly inaugurate industrial center in Central Java

Indonesia and Singapore will launch a joint industrial complex in Central Java, western Indonesia this month, the Indonesian Foreign Ministry said on Thursday.

Indonesian President Joko Widodo and Singapore Prime Minister Le Hsien Loong are scheduled to inaugurate the complex on Aug. 26, said Edi Yusuf, director for East Asia and Pacific at the ministry said.

"There will be an opening ceremony in the industrial complex jointly built by Indonesian and Singaporean firms," he told a press briefing.

The complex was designed for industrial centers, such as the centers for heavy, automotive, chemical and textile industries, the director said.

The complex was jointly built by Indonesia's PT Jababeka and Singaporean company Sembcorp in two phases. The first phase was completed in 2013 and the second one will be in 2020.

The projects involve investment from Japan, Singapore and Malaysia with 16 firms participating in the construction of the projects, he said.

The Singaporean prime minister, who will visit Indonesia on Aug. 24-26, is scheduled to have a meeting with President Widodo, said spokesman of the ministry Arrmanatha Nasir.

A total of 14 CEOs of leading companies in Singapore are to join the visit to Indonesia, he added.

The Southeast Asia's largest economy is attempting to boost non-oil and gas exports by developing the industries in the sectors.

A raft of stimulus policies, including deregulation, incentives and simplification of bureaucracy, have been unveiled by the government since September to lure foreign investment.

So far, most of the country's exports comprise of commodities which are vulnerable on the dropping global oil prices. Endit