Youth, Investment ministries join forces to spur sports investment

Jakarta (ANTARA) - The Ministry of Youth and Sports is collaborating with the Ministry of Investment and Downstream Development to improve business licensing and investment development in the sports sector.

"To support national economic growth, we aim to shift the perception of sports from a cost center to a revenue opportunity," Minister of Youth and Sports Erick Thohir said in Jakarta on Friday (August 28).

His statement is related to the signing of a memorandum of understanding (MoU) with the Ministry of Investment and Downstream Development on investment in sports.

According to Thohir, his office also plays a role in driving the national economy through investment in sports. Therefore, an expedited licensing process for sporting events is needed to achieve this goal.

He further stated that the agreement would strengthen efforts to develop Indonesia’s potential in the sports industry and sports tourism sectors.

This way, sports can become a crucial pillar driving national economic growth and creating job opportunities for the younger generation, he added.

Previously, Thohir said the government’s eight percent economic growth target remained largely dependent on spending.

Therefore, his ministry must work with various stakeholders to develop activities that can generate new sources of economic activity.

He cited continued efforts to promote national and international sporting events, which can stimulate growth across other sectors, particularly the economy.

Indonesia’s marathon events, for instance, comprise 104 races involving a total of 10.4 million runners.

Beyond marathons, he noted that other sports such as surfing can also be developed as potential sources of revenue through sports tourism.

"This is the approach that we at the Ministry of Youth and Sports are now working to align with all stakeholders," Thohir said.

Earlier, the ministry conveyed plans to launch an annual sports calendar in 2027 to synchronize the scheduling of sporting events nationwide.

The calendar will support better planning among athletes, spectators, and the government and help maximize the economic impact of sporting events.

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Translator: Aloysius Lewokeda, Resinta Sulistiyandari
Editor: Azis Kurmala
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