Singapore businesses look beyond Jakarta to Bali as island seeks to diversify economy

ملخص مفصل

SingCham Indonesia aims to turn that interest into concrete business partnerships

SingCham Indonesia aims to turn that interest into concrete business partnerships

[BALI] Singaporean businesses are looking beyond Jakarta to Bali for investment opportunities in healthcare, education and tourism-related services, as the Indonesian island aims to reduce its reliance on hospitality and property development.

This interest was reflected on Thursday (Nov 12) at the launch of the Bali chapter of the Singapore Chamber of Commerce Indonesia, which also made SingCham Indonesia the first international business chamber to establish a chapter on the island.

Its chairman Shoeb Kagda said the organisation noted increasing interest and inquiries from Singaporean businesses regarding opportunities in Bali, although it did not have a consolidated number of prospective investors considering market entry.

While Singaporean businesses have traditionally concentrated on Bali’s hospitality, tourism and property markets, Kagda said the chamber was observing growing interest in a wider range of sectors – particularly healthcare, wellness, education, sustainability and professional services.

“Jakarta will undoubtedly remain the primary business and financial centre of Indonesia. However, new growth centres are emerging in the region and Bali is an interesting example of this evolution,” he added.

SingCham Indonesia aims to turn that interest into concrete business partnerships, connecting Singaporean and Balinese companies, over the next 12 to 24 months, the chairman said.

Find out how enterprises are navigating power constraints and sustainability targets

“Singapore has capital, expertise, technology and international business networks. Bali has tremendous potential, entrepreneurial energy and a strong international profile. There is considerable scope for both sides to complement each other.”

مطلع المقال، مقتطف من The Business Times. لقراءة المقال كاملًا، افتحه على موقع الناشر.