The second meeting of Indonesia-Singapore Business Council that was held in Jakarta on Thursday (March 5) resulted in commitments from investors from the two Southeast Asian countries to enhance collaborations in the capital markets, digital economy, tourism, and infrastructure.

Singapore is the largest investor by country of origin in Indonesia, having invested US$39 billion in 2012-2017 period, according to BKPM data. However, investment from the city state nation declined to $8.4 billion last year from $9.1 billion in 2016.Singaporean investors largely put their money in the transportation, warehousing, telecommunication, and pulp industries in Indonesia. The investment was spread nearly even with 51% in Java and 49% outside of Java.