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.
Remove All Ads & Unlock All Articles… Sign up for The Bali Sun Premium
Plan Your Bali Holiday:
Book The Best English Speaking Drivers For Airport Transfers & Tours
Choose From Thousands of Bali Hotels, Resorts, and Hostels with Free Cancellation On Most PropertiesBook Cheap Flights To Bali
Don’t Forget Travel Insurance That Covers Medical Expenses In Bali
For the latest Bali News & Debate Join our Facebook Community
SUBSCRIBE TO NEW POSTS
Enter your email address to subscribe to The Bali Sun’s latest breaking news, straight to your inbox.