Source:
https://scmp.com/presented/business/topics/singapore-national-day/article/1848856/latrade-bridges-trade-and-tourism
Business

Latrade bridges trade and tourism with Indonesia

Teo Pea Ngo, managing director

A 45-minute ferry ride away from Singapore's bustling business district, Batam offers more than a convenient location for some of the region's largest, most hi-tech industrial parks. Its proximity to Singapore enables it to emulate the country's best practices, systems and technologies while benefiting from Indonesia's cost efficiency, tax incentives and inexpensive labour.

Part of the Indonesia-Malaysia-Singapore Growth Triangle established to boost the economic links among the three countries, Batam is home to 17 industrial parks, each offering distinct advantages to different industries.

Latrade Industrial Park (LIP) stands out as the choice for modern industries seeking cost-effective expansion or relocation opportunities - with its integrated self-contained community backed by its own power plants, telecommunication lines, food courts, stores, health and banking facilities, among other infrastructure.

"Foreign companies investing in Batam enjoy 100 per cent business ownership and an abundant supply of high-quality, cost-effective workforce," says Teo Pea Ngo, managing director of LIP developer Latrade Batam Indonesia. "Batam's established infrastructure has supported industries for more than 40 years. The strength of the institutions, customs and modes of businesses, in turn, translates into a strong support system in LIP - creating a synergetic environment that is conducive for growth."

The industrial park has a total area of 700,000 square metres, about half of which is already sold out. Another 350,000 square metres are earmarked for future expansion.

Teo's vision, however, is not confined within the boundaries of LIP. With sustainability and green technologies in mind, Teo established Green Resources Material to provide smart, efficient building material alternatives. Breakthrough products include Biowood, a 100-per cent recyclable composite wood resistant to fire, water and termites.

"This is the kind of innovation and forward-thinking approach that we want to attract, cultivate, share and replicate," Teo says. "We aim to grow with our stakeholders - and help bridge trade and tourism between Indonesia and Singapore."

 

Latrade Batam Indonesia: http://www.latrade.com.sg