THE INDONESIA’S Minister of Tourism and Creative Economy, Sandiaga Uno, stated that his party is coordinating with the Ministry of State-Owned Enterprises (BUMN) in an effort to accelerate or speed up the realization of the Tourism Endowment Fund.

“I had time to coordinate with Erick Thohir (Minister of State-Owned Enterpises (BUMN). We will accelerate or speed up this. Erick hopes that the Presidential Regulation will be issued in January, so that in May the Tourism Fund can be operational,” said the Minister of Tourism and Creative Economy after attending a market workshop event in Jakarta, recently.

Sandiaga stated that the Tourism Endowment Fund, which had been prepared for a long time, would be very useful in supporting the tourism ecosystem in the country. That his party really welcomes this accelerated step and hopes that the Tourism Endowment Fund can be realized before the end of the second term of President Joko Widodo’s administration next year.

“We welcome it and Erick Thohir is working very quickly. We all support the tourism ecosystem and this Tourism Fund has been long awaited. So, if it can be realized before the end of Mr Joko Widodo’s administration, this will be greatly appreciated by tourism players,” he added.

Sandiaga further said that the value of the Tourism Endowment Fund will continue to increase according to the contribution to foreign exchange through scheme allocations from the Ministry of Finance.

“Initially the Tourism Fund was IDR1-2 trillion. However, this will continue to be increased according to contributions because next year our contribution will be IDR200 trillion towards foreign exchange generated from the tourism sector. The scheme is all from the Ministry of Finance’s allocation,” stressed Sandi.

Previously, President Joko Widodo had ordered the relevant ministers to establish a special tourism fund to provide quality and sustainable tourism such as international class cultural, sporting and “MICE” events.

Several other countries that prioritize the tourism sector, such as Singapore and Saudi Arabia, have established tourism funds. In Indonesia, this fund will be established with good governance, prioritizing sustainable and quality tourism by highlighting domestic cultural excellence. [sources/photo special]