Indonesia has formalized a new partnership between its investment and sports authorities aimed at boosting activities within the national sports industry. Investment and Downstreaming Minister Rosan Perkasa Roeslani and Youth and Sports Minister Erick Thohir signed the agreement on August 28. The memorandum emphasizes investment growth and the application of a risk-based licensing system. Additionally, it links sports-related investments to Indonesia’s existing national licensing framework. Officials highlighted the initiative as part of the broader global sports industry, valued at approximately US$521 billion.Indonesia links sports industry investment with risk-based licensing and OSS services. The Ministry of Investment and Downstreaming and the Ministry of Youth and Sports will oversee licensing procedures, investment promotion, and business services. Their collaboration extends to regulatory oversight, compliance checks, and the sharing of licensing data. Indonesia employs the Online Single Submission system, or OSS, to handle business permits based on a risk evaluation process. This memorandum integrates sports sector investments into that system. It is important to note that the US$521 billion figure does not serve as a target for Indonesia’s domestic sports industry size. Thohir remarked that the global sports industry is valued at around US$521 billion, which is roughly equivalent to 8,000 trillion rupiah. He also pointed out that the sector experiences an annual growth rate of about 8%. In a separate comment, he estimated the worldwide sports tourism market at nearly US$600 billion. Indonesian officials have connected sports activities with events,

The combined death toll from flooding in Nepal and Tibet has now reached at least 919, with 4,793 individuals still unaccounted for. In Nepal alone, 903 deaths have been confirmed, and 4,247 are listed as missing following the catastrophe on August 26. Meanwhile, authorities in Tibet have verified 16 fatalities and 546 people missing in Gyirong County. Search operations persist in mountainous regions, river valleys, and hydropower sites damaged by the floods. Casualty figures have been updated as rescue teams access previously unreachable areas and verify reports of missing persons.