Indonesia Pushes State-Owned Industry Consolidation and IPO Plans
He also said that the goal is not only to get foreign tourists to return to Indonesia, but also to have more local tourists crisscross the country rather than travel outside it.
But that ambition comes as the country’s tourism sector remains hamstrung by the coronavirus pandemic. According to data from the Central Statistics Agency, only 4 million foreign tourists entered Indonesia in 2020, a 75% drop from 2019, as the coronavirus pandemic saw travel restrictions imposed worldwide. During the same period, domestic travel also fell, but at a far more moderate rate of 28%, to 518 million trips — including via land, sea and air.
“The potential of the domestic market is huge. Don’t let other countries take it,” Widodo said.
State Enterprise Minister Erick Thohir separately said the establishment of ID Food is aimed at improving coordination between its members — including a seed and fertilizer maker, a poultry producer and a food manufacturer — to address supply chain problems and boost innovation in the food sector.
Referring to poor-performing companies in the sector, Thohir told their executives, “Please be open toward innovation and technologies. If we fail to do that, don’t be surprised if in the next 10 years Indonesia will be left behind by Rwanda, which is revolutionizing its agriculture.”
