FDI: Leaders from Singapore and Indonesia have signed a memorandum of understanding (MOU) to develop renewable energy generation projects in Indonesia, both for domestic needs and for export to Singapore.
Known as the Green Corridor Project, it will attract an estimated $50 billion of foreign direct investments to Indonesia, reducing the country’s national determined contributions (NDCs), and transferring renewable energy knowledge and skills into Indonesia.
According to the Sustainable Energy Association of Singapore (SEAS), the Green Corridor plan is to develop a green manufacturing industry, creating "tens of thousands" of green jobs for Indonesians.
