Deputy Minister of State-Owned Enterprises announces plans for a tourism fund during a meeting, aiming to enhance Indonesia’s global recognition through cultural and ecotourism initiatives

Deputy Minister of State-Owned Enterprises (SOEs) Bapak Kartika Wirjoatmodjo revealed discussions on a tourism fund during a limited meeting, with expectations for a related presidential regulation to be issued by March 2024.

Pak Wirjoatmodjo expressed hopes for the completion of the presidential regulation in March, anticipating the operationalization of the tourism fund within the year. The Ministry of SOEs advocated for the immediate issuance of a presidential regulation regarding a Public Service Agency (BLU) for flexible financial management of tourism funds.

The tourism fund is envisioned as a catalyst to showcase cultural and ecotourism events, aiming to bolster Indonesia’s global reputation. It will serve as a financial resource for various events, including the F1 Power Boat and MotoGP, with the goal of promoting world-class ecotourism and cultural activities.

Tourism and Creative Economy Minister Pak Sandiaga Uno projected an annual disbursement of up to Rp2 trillion (US$127.5 million) from the tourism fund. This allocation is intended to support the tourism and creative economy sectors, fostering community welfare and employment opportunities.

Through the fund, the Ministry of Tourism and Creative Economy plans to organize international-quality events at Indonesia’s five super-priority destinations. The initiative to establish a tourism fund was inspired by the success of the MotoGP racing event, which generated Rp4.5 trillion (approximately US$287 million) in 2022.

Source: Antara News