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Indonesia hopes for increasing Singaporean investment

06-08-2010 10:47 BJT

JAKARTA, June 8 (Xinhua) -- Indonesia hopes that Singaporean investment could increase about 10 percent in the future following better knowledge of practice and procedure about arbitration in the country, an official told Xinhua in a recent interview.

Iwan Dermawan Hanafi, Chairman of Indonesian Chamber of Commerce and Trade for Singapore Committee, said that currently, Singapore is the biggest investor in Indonesia in business-to- business sector.

"Based on our data, in 2009, Singapore's investment reached 4,340.96 billion U.S. dollars and in the first quarter of 2010, the country invested 678.8 million dollars," said Iwan.

He said that with better knowledge of practice and procedure, Singaporean businessmen would be more aware with problems that might be occurred and how to resolve them.

For better knowledge, he said, Indonesia in cooperation with the Singapore International Arbitration Center (SIAC) held a workshop titled "International Arbitration in Indonesia: Practice and Procedure" on Monday.

"We want to socialize problems related to practice and procedure, both in international field and in Indonesia," he said.


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