Banyuwangi International Yacht Club
Marina
Restaurant
The conference hall
According to sources close to yacht business in Indonesia, shareholders of the «Banyuwangi International Yacht Club» have signed a letter of intent (LOI) for sale of 50% of shares to an unnamed bank group from the Russian Federation.
The transaction amount is not disclosed, but according to independent experts the amount may be not less than 14 billion IRP or around 900 000 USD at the current exchange rate. The goal of the investment project is the development of tourism business in East Java and transformation of Banyuwangi into a yachting mecca.
Joint investment projects of the Russian Federation and the Republic of Indonesia were launched by Minister of Tourism and Creative Economy of the Republic of Indonesia Mr. Sandiaga Uno at the International Tourism Investment Forum ITIF-2024 in Jakarta (International Tourism Investment Forum ITIF 2024). Mr Sandiaga Uno has visited BIYC several times after the forum as part of business events.
ITIF 2024 Appreciation Letter
International Tourism Investment Forum
ITIF 2024