President Joko 'Jokowi' Widodo, right, informed investors about several large business opportunities in Indonesia, especially in the tourism sector, during a business meeting in Hong Kong on Monday (01/05). (B1 Photo)

Jokowi Promotes 'Ten New Balis' to Investors in Hong Kong


MAY 02, 2017

Jakarta. President Joko "Jokowi" Widodo informed investors about several large business opportunities in Indonesia, especially in the tourism sector, during a business meeting in Hong Kong on Monday (01/05).

The president also assured investors that his government is working hard on crucial reforms.

"In Indonesia, we want to stay focused, and our focus is now on reforming [the country]," Jokowi said during the meeting at the Conrad Hotel in Hong Kong.

He also told investors about the steps his government took to reduce fuel subsidies and reallocate the funds to essential services and infrastructure development.


"This involves about $15 billion per fiscal year that is allocated towards health services, education and especially infrastructure development," the president said.

Infrastructure projects include the addition of 35-gigawatts of electricity capacity to the national grid, 1,000 kilometers of new toll roads, 3,258 kilometers of new railways, 15 new airports, 10 airport upgrades and 24 new seaports.

Jokowi added that around 3,000 local regulations, which had complicated the investment process, were also repealed.

Moreover, the government's tax amnesty policy was one of the most successful in history.

"Thanks to these efforts last year, we improved our ranking on the World Bank's ease of doing business index from 106th to 91th," Jokowi said.

Due to these efforts and achievements, he said many investment opportunities are available in Indonesia, including in the tourism sector. He added that connections between the country's various regions will improve soon.

"You all know Bali, our famous island paradise. With our improved infrastructure, we have launched a program called 'Ten New Balis,' such as Raja Ampat in Papua, Mandalika in Lombok and Komodo Island," Jokowi said.

"I also see tremendous opportunities for Hong Kong's financial industry, I believe, in Asia. Infrastructure financing will be the biggest capital market opportunity for decades to come."

With the Indonesian government's continued efforts and Hong Kong's financial capabilities, Jokowi expects major investments in Indonesia.

He also gave assurances that the government would continue to make improvements to make Indonesia more investor friendly.

"In Indonesia, we will welcome you with a stronger, reformed Indonesia and faster progress than ever," the president said.

Tourism Minister Arief Yahya added that the Ten New Balis are Lake Toba in North Sumatra, Tanjung Kelayang in Bangka Belitung, Tanjung Lesung in Banten, the Thousand Islands off the Jakarta coast, Borobudur in Central Java, Bromo Tengger Semeru in East Java, Mandalika Lombok in West Nusa Tenggara, Labuan Bajo in East Nusa Tenggara, Wakatobi in North Maluku and Morotai in North Sulawesi.

"We are very open to any investments in the Ten New Balis. The government will provide access to basic infrastructure, while the private sector can play a role in amenities. President Jokowi's goals are very realistic as developments are currently taking place at many destinations," Arief said.