The Finance Minister of Indonesia, Sri Mulyani Indrawati, has asked Bali to develop industries beyond the tourism sector.
During her speech on Monday (17/1), Sri Mulyani suggested that the Bali provincial government should start developing another industry, such as agriculture, to support its economy. This is to supplement the growing international demand for organic food products.
“Bali has great potential with its Subak irrigation system and land potential for organic farming. These can help revive the economy during the pandemic,” Sri Mulyani said.
She reminds Bali to use this Covid-19 pandemic as a lesson to stop relying on one source of income. She also said that Bali needs to develop its Small and Medium Businesses (UMKM).
“The UMKM industry makes up 61.07 percent of our GDP. It was able to absorb 97 percent of the total workforce and 60 percent of the total investment in Indonesia,” Sri Mulyani added.
She also explained that the central government would provide massive support to the UMKM industry by offering loans, interest rate subsidies, and technical assistance to the participants. “The government will provide technical assistance to help our UMKM reach global markets and increase our export rate,” Sri Mulyani concluded.
The Government Investment Center (PIP), an official Public Service Agency (BLU), was created to support the growth of UMKM, with eventual expansion to the global market.
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Mark
Friday 4th of February 2022
Best thing to enhance Bali’s future, is to separate from Indonesia and it’s dumb useless government. Bali would prosper as a separate independent country…
Martina
Thursday 27th of January 2022
Mulyani has it right. Organic fresh whole products is th future for Bali. It will also encourage the Balinese not to sell their family land and eat healthier and not go down th path of western supermarket style food which is th greatest cause of all dis-ease including cancer (thru copper overload caused by eating plastic wrapped foods). It will also be a food source for th Balinese should resources become scarce and teach people to grow and make their own healthy food. The Korean food packages, including processed palm oil and sugar, received recently were not a healthy choice although well appreciated in this unfortunate climate.
Steven
Tuesday 25th of January 2022
Bali has a very large well trained, experienced, multi lingual service industry workforce. Why not utilize this valuable resource into other service industries. The call center market springs to mind, much like India has done. Low wages, a ready made workforce and Bali itself would be an attractive proposition to many international companies. It would take a drive from the central and local goverments with incentives to achieve this but would think its very possible with the right focus and mindset.
Randy
Monday 31st of January 2022
@Steven, an interesting idea. Their language skills fare better in the long run than the Thais.
Wayan Bo
Tuesday 25th of January 2022
It’s to be expected that Germany will legalize marijuana later this year. Farmers should be prepared for this big business.
Steven
Tuesday 25th of January 2022
Bali has recieved huge investment into their tourism indudtry over the years. An array of high level hotels and accomodation, malls / shopping and over tourism related services. Its too late to scrap it all and start again. Makes sense to get the tourism industry back on its feet as its the bread and butter of the island. The smart move would be to invest in e-commerce and other STEM related industries whilst stabilising the local economy through tourism. Land value is very high in comparion to most other parts of indonesia so farming and manufacturing would struggle to compete. High end organic farming would help but would be nowhere near enough. The wake up call has happened now, so its time for planning and action.