SBF pilots ‘Landing Pad’ programme to introduce more Singapore firms to Indonesia
THE Singapore Business Federation (SBF) has launched a new initiative called the Landing Pad Programme for Singapore firms keen to do business in Indonesia.
“It is designed to offer an immersion programme for interested Singapore-based companies to be introduced to the Indonesian market by providing networking opportunities with local business communities, and ongoing support to accelerate (their) international journey,” said Trade and Industry Minister Gan Kim Yong at an event in Jakarta on Tuesday (May 31).
SBF is piloting this programme under the Singapore Enterprise Centre (SEC) @ Jakarta. In a media release, SBF said the scheme will give companies with a tailored 21-day immersion experience “to accelerate their potential of securing partnerships and sales” in the market.
“Companies will gain first-hand experience of the business culture and have the opportunity to network with curated business partners according to their business interests,” said SBF.
Gan made the announcement at a business networking event organised by SEC @ Jakarta, its first since the centre was launched in January 2021. Also present were SBF chairman Lim Ming Yan, Singapore’s Ambassador to Indonesia Anil Kumar Nayar, and 65 Singapore and Indonesia business representatives. Gan also met with 12 Singapore business representatives with operations in Indonesia or are looking to expand into Indonesia
“Indonesia is a key market for Singapore and we are looking for Singapore companies to venture overseas,” said Gan. “A strong partnership between Singapore and Indonesian businesses will be necessary for our economic recovery.”
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According to latest figures, Singapore’s bilateral trade with Indonesia was S$59.1 billion in 2021, a 21 per cent increase from the year before. The total value of Singapore’s investments in Indonesia amounted to US$9.4 billion in 2021. Singapore has also occupied the top spot on the list of Indonesia’s investors since 2014.
SBF’s Lim noted that Singapore businesses are “very optimistic” about business opportunities in Indonesia, which continues to rank among the top 5 countries they would like to venture into.
“With the reopening of borders, many businesses are looking forward to restarting business talks and exploring new opportunities in Indonesia. Through our GlobalConnect@SBF programme and SEC@Jakarta, SBF looks forward to helping more Singapore businesses achieve success in Indonesia,” he added.
Enterprise Singapore chief executive officer Png Cheong Boon echoed the view that Indonesia is a key growth market for Singapore companies, citing sectors such as lifestyle and consumer, infrastructure, energy and innovation.
“The SEC@Jakarta serves as an important first touchpoint to provide business advisory services and in-market support for companies new to the market. We encourage more small and medium-sized enterprises to tap on this strong network of in-market support to explore new opportunities and deepen collaboration with Indonesian businesses,” he said.
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