Indonesia is open for foreign investment and anticipates a swift implementation of the Special Economic Zone in June, said Indonesia's president.

While on a two-day visit to Singapore, President Susilo Bambang Yudhoyono, met with business leaders to discuss establishing trade links. He is confident the economic situation has stabilized in Indonesia, but acknowledged that more work needs to be done to improve the business climate, Channel News Asia television network reported on Monday.

It's not changing everything overnight, but trust us, trust Indonesia that we are very serious in improving many things, Yudhoyono said.

Yudhoyono met with Singapore's Prime Minister Lee Hsien Loong on Sunday to discuss topics including infrastructure development, the bio-fuel initiative currently implemented in Indonesia, and the progress of the Special Economic Zone agreement signed between the two countries.

And talking about opportunities, we offer several opportunities to our partners here in Singapore from infrastructure development, power, road systems, housing and other infrastructure projects.

The two countries had previously agreed in June to establish Indonesia's Batam, Bintan and Karimun islands as trade zones to attract more international business to Indonesia as well as for Singapore.

I gave clear directions to all government officials who are working in Batam, Bintan and Karimun to have a revolution in conducting services, Yudhoyono told the business leaders Sunday.

They need to be faster, better and cheaper, on all agencies. I understand about the labor situation, about the infrastructure needed in Batam, and about the relationship between business and government. We'll address all those things, aiming at having a better situation.