Yahoo Finance Indonesia plans to let you name and manage its islands
Figures vary but some estimates have counted more than 18,000 islands in the Indonesia archipelago, only 14,752 of which have official names.
That’s why the Southeast Asian country is allowing foreign investors to step in to manage and name some of them, according to Quartz.
Luhut Pandjaitan, co-ordinating minister for Maritime Affairs, said earlier this week that Indonesia would retain ownership of the islands, while investors could lease and give them names.
“They can give it any name they want, as long as they report to us,” Pandjaitan told Tempo.co, a weekly magazine and website in Indonesia.
The qualifying islands would be designated for tourism.
Sofyan Djalil, Indonesia’s minister of agrarian and spatial planning, supports the idea if adequate controls are in place.
“If the island is for tourists – it’s fine, as long as there are plans and regulations,” he said Thursday.
Djalil said that only Indonesia citizens can own property in the country, but foreigners can use land by obtaining a land-use permit.
He added that these investors could benefit the country by developing these unnamed islands.
Pandjaitan pointed to the island of Morotai, part of Indonesia’s eastern Maluku chain, as a successful model.
Japanese investors are planning to turn it into a vacation spot for the elderly.
Tell us, what would you name your island?
