REPUBLIKA.CO.ID, JAKARTA - Singapore could become the largest investing country in Indonesia this year, Indonesian Ambassador to Singapore Andri Hadi said here on Wednesday.

"Singapore could invest up to 5 billion USD in Indonesia this year," Hadi told the news agency Antara.

He said he had teamed up with the Capital Investment Coordinating Board (BKPM), the Indonesian Chamber of Commerce and Industry (Kadin) and other relevant institutions to attract more investment from Singapore.

There are five countries with the largest foreign direct investment (FDI) in the country in 2013. The largest among the five countries was Japan with FDI reaching 4.71 billion USD, followed by Singapore with FDI of 4.67 billion USD, the United States 2.4 billion USD, South Korea 2.2 billion USD and Britain 1.1 billion USD. Other countries invested a total of 13.5 billion USD or 47.2 percent of the total new investment in 2013. By the third quarter of 2014 Singapore led with FDI totaling 4.9 billion USD or 22.5 percent of the total FDI.

Hadi said Singapore invested mainly in Jakarta and neighboring districts in the sectors of transportation, telecommunications, warehousing , manufacturing, food processing industry, plantation and electronics. Recently Hadi accompanied40 business leaders from Singapore to study investment and business opportunities in Jakarta and Surabaya.

Singaporean investors chose to invest in the country's two largest cities as they have more adequate infrastructure and have large and modern seaports. By the third quarter of 2014, Singapore invested 1.5 billion USD in Jakarta, 492.3 million USD in Banten, 411.7 million USD in East Java, 320.9 million USD in East Kalimantan and 300.4 million USD in South Sumatra.

"Another group of business leaders from Singapore would visit Indonesia for the same purpose," Hadi said.

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