VOI - Voice of Indonesia | RRI - Radio Republik Indonesia

President, Joko Widodo and Singaporean Prime Minister, Lee Hsien Loong held a bilateral meeting on the sidelines of the IMF-World Bank Annual Meeting in Nusa Dua Bali on Thursday (11/10). The meeting produced seven memoranda of understanding –MoU in various fields. Three agreements that were signed were witnessed directly by President Joko Widodo and Prime Minister Lee Hsien Loong. First agreement is the cooperation on increasing and protecting investment between Indonesia and Singapore. President Joko Widodo at a press conference in Bali on Thursday said that this cooperation is expected to increase the confidence of Singaporean investors in investing in Indonesia. The second collaboration is in the field of financial technology (fintech). Indonesia and Singapore are committed to arranging details of the support provided to develop the fintech industry in both countries. Meanwhile, the third collaboration is in the field of cultural heritage for the period 2019-2021. In addition to the three collaborations, there are still four other cooperation agreements signed by representatives of the two countries' ministries. The four ones are the development and implementation of industry 4.0, cooperation in fintech programs for higher education, development of human resources for government employees and cooperation in shipping schools. President Joko Widodo added, Indonesia and Singapore are  also committed to continuously developing the Kendal Industrial Zone in Central Java and Nongsa Digital Park Batam, Riau Islands. Both regions are built on cooperation between the two countries. President Joko Widodo said that  in addition to economic cooperation, an increase in ASEAN cooperation was also discussed. According to President Joko Widodo, as the two founding countries of ASEAN, Indonesia and Singapore have a moral responsibility to keep strengthening ASEAN. Meanwhile, Singaporean Prime Minister, Lee Hsien Loong said that Singapore would continue to increase its investment in Indonesia. He emphasized that Singapore has also agreed on a MoU on industry 4.0 to face the industrial revolution ahead. He specifically conveyed Singapore's participation in the Kendal Industrial Area which will be able to attract 43 companies to invest their capital with the total investment of millions of US dollars. He said, the Kendal Industrial Area is able to employ more than 5,000 people.