bali needs to stop relying on tourism - finance minister

Finance Minister Sri Mulyani Indrawati has urged Bali to develop industries outside the tourism sector.

Balinese tourists

In his remarks on Monday (1/17), Sri Mulyani suggested that the provincial government of Bali should start developing other industries such as agriculture to sustain its economy. This is to meet the growing international demand for organic food products.

“Bali has great potential with its subak irrigation system and the land potential for organic farming. It can help revive the economy during the pandemic,” Sri Mulyani said.

He reminded Bali to take the Covid-19 pandemic as a lesson to stop relying on just one source of income. He also said that Bali should develop small and medium enterprises (MSMEs).

“The MSME industry contributes 61.07% of our GDP. Capable of absorbing 97% of the total workforce and 60% of the total investment in Indonesia,” Sri Mulyani added.

He also explained that the central government would provide massive support to the MSME sector by providing loans, interest rate subsidies and technical assistance to participants. “The government will provide technical assistance to help our MSMEs reach out to the global market and increase our export rate,” Sri Mulyani concluded.

The Government Investment Center (PIP), an official Public Service Agency (BLU), was established to support the growth of MSMEs, with expansion into the global market.