Chinese, Singaporean Businesses to Invest in Lake Toba

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  • Indonesia`s Toba Lake. Tempo/Dian Triyuli Handoko

    Indonesia`s Toba Lake. Tempo/Dian Triyuli Handoko

    TEMPO.CO, Jakarta - The Indonesian government needs Rp11 trillion private investment to develop Lake Toba tourism in North Sumatra. Chinese and Singaporean investors have expressed their interest to develop supporting facilities in the tourist attraction.

    Lake Toba Tourism Authority official Faisal said that 40 investors are eyeing Lake Toba tourism, 27 of whom hail from China and Singapore.

    “The most serious ones are Chinese [investors]. They want to build resorts, cable cars and railway encircling Lake Toba,” he said yesterday in North Sumatra.

    Faisal said that the Lake Toba Tourism authorities estimated that Rp21 trillion will be needed until 2019 to develop the area.

    The government is only expected to raise Rp10 trillion, whereas the remaining Rp11 trillion will be generated by private firms.

    The government will build basic infrastructure, such as roads, port revitalization, etc. Private firms are expected to help provide hotels, restaurants and cable cars.

    “The target is 1 million foreign tourist arrivals by 2019. Next year’s [target] is 500,000 and the current number stands at 197,000 foreign tourist arrivals. We are hopeful that it will reach 300,000 foreign tourists by the end of the year,” Faisal said.

    He said that investors may build resorts in Sibisa and also Taman Bunga through a 30-year scheme with an 80-year extension. The Tourism Ministry will provide a one-door integrated business registration service in a bid to turn Lake Toba into a single destination with a single management.