Kemenparekraf Facilitates Access To Indonesian Culinary Business Financing Through IndoStar

JAKARTA - The Ministry of Tourism and Creative Economy (Kemenparekraf) facilitates access to financing for 50 Indonesian culinary businesses abroad through talk shows in the Indonesian Restaurant Fundraising (IndoStar) incubation program.

"The Indonesian Restaurant Fundraising (IndoStar) program itself has opened the door for Indonesian culinary business players to achieve success in the international market," said Director of Financing Access at the Ministry of Tourism and Creative Economy Anggara Hayun Anujuprana in an official statement, Tuesday, July 4.

He hopes that through the IndoStar program, Indonesia's culinary business will continue to grow and can support the achievement of the Indonesia Spice Up the World national program, especially accelerating the establishment of 4,000 Indonesian restaurants abroad by 2024.

Hayun said participants could take advantage of existing opportunities and be actively involved in the IndoStar program. Thus, it can lift Indonesia's culinary business abroad to a higher level.

Meanwhile, Chairman of the Working Group for Financial Technology Financing and the Indonesia Spice Up the World Program of the Ministry of Tourism and Creative Economy, Indriani D. Laratu, said that this activity is expected by Indonesian culinary business players to get wider inspiration and insight, especially facing challenges and implementing Indonesian culinary business development strategies abroad.

"In addition to the strategy of obtaining access to financing, in the future we will facilitate the provision of material related to how to make money, implementing business digitization, applying it such as calculating Cost of Goods Sold (COGS) in a company," he said.

On the other hand, Chairman of Manan Foundation Robert Manan said, currently Indonesian culinary entrepreneurs abroad are still struggling to recover from the impact of the COVID-19 pandemic.

The facilitation assistance for access to financing from the Ministry of Tourism and Creative Economy is a form of support for Indonesian culinary entrepreneurs abroad.

"The biggest challenge is the lack of Indonesian food branding, while the potential for Indonesian cuisine is so wide. In the medium term and long term, the opening of Indonesian restaurants abroad looks very prospective, because Indonesia's branding name is progressing, especially during the current administration of Mr. Jokowi," he added.