VP Ma’ruf Amin Meets with Singaporean Deputy PM to Discuss Economic Cooperation

VP Ma’ruf Amin Tuesday (10/18) meets with Deputy Prime Minister of Singapore Lawrence Wong at the Parliament of Singapore. (BPMI of Vice Presidential Secretariat)

Vice President Ma’ruf Amin Tuesday (10/18) met with Deputy Prime Minister of Singapore Lawrence Wong – who also serves as Minister for Finance of Singapore – to discuss economic cooperation including sharia economy and halal products and tourism between the two countries.

“We must continue to boost this economic partnership,” the Vice President said after the meeting at the Parliament of Singapore.

Ma’ruf revealed that Singapore is the largest foreign investor in Indonesia with investment realization reaching US$6.7 billion until June 2022.

“Our total trade this August also increased by more than 36 percent compared to that in the same period last year,” he said.

On sharia economy, the Vice President pointed out that the sector has great potentials to strengthen economies of the two neigboring countries.

According to him, sharia economy will support economic recovery amid the threat of a recession, especially after the performance shown during the COVID-19 pandemic.

“Sharia transactions use a profit-sharing business model that provides a sense of security. The affordable waqf funds have the potential to become productive assets. Together, we must develop this economic potential,” he said.

On halal products and tourism, Ma’ruf underscored that Muslim tourism has started to rise in various countries.

For this reason, as a neighboring country and a hub for tourists to Indonesia, Singapore’s participation is highly expected in strengthening this cooperation, he said.

“This year, Indonesia managed to climb to the second place in the Global Muslim Travel Index. Therefore, Singapore’s role as a hub for Muslim tourists to Indonesia is crucial. In the future, I hope that there will be stronger collaboration between Indonesia and Singapore to boost the development of Muslim tourism,” he remarked.

Deputy Prime Minister of Singapore also expressed his appreciation for the long-standing cooperation between Indonesia and Singapore, saying he welcomed the plans for future cooperation.

“I believe the cooperation between Indonesia and Singapore will be even stronger,” Wong said. (BPMI of Vice Presidential Secretariat/UN) (FI/EP)