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Govt to Develop Financing Scheme for Creative Industry: Minister

The Industry Ministry is due to meet with Bank Indonesia (BI) and the Finance Ministry to discuss financing for creative industry players.

“Access to financing [for players in this industry] has to be easier. There should be a special program for the creative industry sector,” Industry Minister MS Hidayat said on Friday in Denpasar, Bali, on the sidelines of the launch of the Bali Creative Industry Center, as reported by Antara news agency.

He said members of the industry faced difficulties in accessing financing from banks. Other obstacles were market access and the protection of intellectual property rights on the products created.

The banking sector still perceived this industry as a new sector that had a complicated marketing process compared to other industries, such as technology application, he added.

The creative industry was the seventh-largest contributor to the nation’s gross domestic product (GDP), contributing 6.9 percent or Rp 573 trillion (US$46.71 billion) throughout 2012.

This figure is projected to reach 10 percent by the end of 2014.

Source : www.thejakartapost.com, Friday, March 21 2014.