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Indonesia plans to transform Bali into an international financial center
Bali newsBali7 min read
Indonesia is moving forward with plans to establish Bali as an international financial center, with new laws set for parliamentary debate this week. Minister of Investment and Downstream Industry Rosan Roeslani stated that the financial center aims to make Indonesia a trusted destination for investors. The inaugural Nusa Dua Forum in Bali, co-organized by the South China Morning Post and Danantara Indonesia, gathered around 120 participants, including officials, sovereign fund operators, and family office leaders. Rosan emphasized that the center will feature an independent court system, financial authority, and corporations, upholding high standards. Hong Kong’s Deputy Secretary for Justice Horace Cheung Kwok-kwan highlighted Hong Kong's institutional credibility and common law system as a model. Bali intends to offer strong incentives to investors, including potential full tax waivers for businesses and foreign finance experts. The proposed center, located in the Kura Kura Special Economic Zone on Serangan Island, is expected to adopt a common law framework, similar to financial hubs in Dubai and Singapore. Luhut Pandjaitan, chairman of Indonesia’s National Economic Council, noted that the financial center aims to address investor concerns about transparency in Indonesia's equity market. Pandu Sjahrir, CEO of Danantara Indonesia, stressed the importance of consistency, legal system stability, and competitive fiscal incentives for the center's success, suggesting a mix of lo
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