The MoU aims to bolster Indonesia's tourism and infrastructure landscape, SOEs Minister Erick Thohir noted in a statement released on Wednesday.
"The SOEs Ministry and Eagle Hills have agreed to establish cooperation with an investment value of up to US$3 billion in Indonesia's tourism and infrastructure ecosystem," he stated.
He added that this collaboration encompasses comprehensive investment in the development of hotel properties, airport areas, and tourism destination ecosystems. The cooperation also covers knowledge transfer through joint studies, workshops, and training programs.
Eagle Hills will assist in developing airport infrastructure and renovating and upgrading state-owned hotels to meet international standards, Thohir said.
He expressed confidence that the cooperation would accelerate tourism development in Indonesia.
"This landmark agreement marks a turning point for Indonesia's tourism industry," Thohir said. "By partnering with Eagle Hills, we can sustain the industry's current strong growth trajectory."
Thohir further explained that this partnership aligns with the national strategy to diversify the economy and establish Indonesia as a leading global tourism destination.
This cooperation, he said, will not only boost the tourism sector's contribution to the economy but also create job opportunities and promote equitable and sustainable economic growth in Indonesia.
The MoU is valid for one year, with the possibility of extension through mutual agreement.
"There is no set timeframe for the US$3 billion investment, and it will be implemented with flexibility," Thohir remarked.
He added that this cooperation aligns with the ministry's efforts to forge closer ties with global companies.
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Translator: Maria P, Kenzu
Editor: Anton Santoso
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