REPUBLIKA.CO.ID, JAKARTA -- Vice President Jusuf Kalla believes that the 2018 Asian Games event will also have a positive impact on long-term investments.

"Despite the huge cost, the Asian Games is very important, as it will also have a positive impact on investment in future," Kalla noted after the signing of the 2018 Asian Games funding sponsorship agreement with private sponsors at the Vice President's office here on Wednesday.

Kalla highlighted the importance of hosting the Asian Games for Indonesia, as the country had first hosted the international sporting event in 1962.

China and Thailand have hosted the Asian Games thrice. Hence, its implementation encourages greater synergy and cooperation.

The Asian Games holds significance for Indonesia, as sports have now become a part of daily life.

"Hence, a lot of money is involved, especially for building the venues. If we did not host the Asian Games in 1962, then we would not have had the Bung Karno sports stadium (GBK) as it is today, and we would not have had television and athletes who excel," he pointed out.

Some Rp10 trillion is needed to develop sports venues to hold the 2018 Asian Games in Palembang and Jakarta, according to the vice president.

Also read: Asian Games infrastructure to be completed end of 2017

In Palembang, some of the venues have been built using private funds, while those in Jakarta are mostly developed by utilizing the government's budget.

A total of $50 million will be spent on organizing the opening ceremony of the Asian Games, as it is the main event of the games.

"In addition, long-term planning is required for the (future of) sports (in the country), and it is not just the Asian Games but also other sports activities," Vice President Kalla stated.

Apart from cooperation in the form of funding, the private sector also utilizes the event for "image branding" and advertising to the international community.

A total of nine private companies have signed a sponsorship agreement worth Rp760 billion for the Asian Games 2018.

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