PM Wong Sees Indonesia’s Economic Potential and Power

President Prabowo Subianto and Singaporean PM Lawrence Wong attend joint press statement after the Leaders’ Retreat held at the Parliament House, Singapore, Monday (June 16, 2025). (Photo by: Bureau of Press, Media, and Information of Presidential Secretariat)

Prime Minister of Singapore Lawrence Wong expressed believe in Indonesia’s economic potential and power. It was stated in the joint press conference of PM Wong and President Prabowo Subianto following the Leader’s Retreat held at the Parliament House, Singapore, Monday (June 16, 2025).

“Last year, Singapore contributed more than one third of all foreign investments realized in Indonesia. It reflects our trust in Indonesia’s economic potential and power,” PM Wong firmly stated.

During the Leader’s Retreat, President Prabowo and PM Wong has agreed to take concrete actions to improve the bilateral relation of both countries to a higher level. PM Wong emphasized that the Leaders’ Retreat is a realization of the close relation between Indonesia and Singapore that has been closely intertwined in various sectors.

“We had a very good discussion this morning in a four-eyes meeting and also in our delegation meeting. And both President Prabowo and I agree that Singapore-Indonesia relations are in excellent shape, and we want to take it further and chart even stronger ties in this new era of cooperation,” PM Wong mentioned.

The two countries emphasized to carry on the implementation of framework agreements that has come into effect since last year, covering cooperation in defense, air zone management, and law enforcement. Related to air zone management, PM Wong said that Flight Information Region Agreement has run effectively.

In addition, cooperation in legal sector has also recorded a significant improvement. In green economy, both countries have signed three new MoUs on interborder electricity trade, carbon capture and storage, and sustainable industrial zone.

In financial sector, financial cooperation is also strengthened with the extension of bilateral financial arrangement between Monetary Authority of Singapore (MAS) and Bank of Indonesia for another three years—for the first time, since  it was previously extended annually. In food security sector, an MoU on food security and agricultural technology was also signed, including Young Farmers Development Programme to share best practices in agriculture and food technology.

In the aspect of connectivity and exchange of its peoples, both leaders welcome the opening of new flight route from Singapore to Padang city in West Sumatra province and Kertajati airport in Majalengka regency, West Java province, as well as more opportunities created for interstate internship for the young generation. Concluding his statement, PM Wong emphasized the importance of regional cooperation and Singapore’s support for Indonesia to join with Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

“I thank President Prabowo for the excellent, constructive discussions we had today. He has long been a valued friend of Singapore, and I look forward to working closely with him to take our bilateral ties to greater heights,” PM Wong remarked. (Bureau of Press, Media, and Information of Presidential Secretariat) (AW/LW)