Indonesia will start allowing overseas companies to take 100% stakes in local tourism ventures.
The country’s Antara news agency reported Indonesia’s Ministry of Tourism & Creative Economy as saying that full investment will now be permitted as long as the investor forms a joint venture with a local partner.
“The foreign investment in the tourism sector is allowed to reach 100% with a condition that it has a joint venture with the locals, since we want [to] share knowledge and skills through that partnership,” Firmansyah Rahim, general director of tourism destination development division was quoted saying this week.
The government has started developing its travel and tourism infrastructure in recent months, creating new designated tourism towns and villages. And Firmansyah said that in future Indonesia could develop its ecotourism sector with “both biodiversity and indigenous community” projects.