BaliMust read
NGOs criticize Bali International Financial Center plan over green investment and governance concerns
Bali newsBali6 min read
Non-governmental organizations NGOs have voiced criticism regarding Indonesia's proposed International Financial Center PFII in Bali. They warn that the draft legislation, which aims to position Indonesia as a global investment hub, could hinder the country's ability to attract green investment. Concerns focus on the bill's prioritization of flexibility and secrecy over transparency and governance. Critics argue that the legislation does not clearly define the legal status or authority of Danantara, Indonesia's sovereign wealth fund, after it provides initial capital for the PFII. The draft also lacks explicit provisions for transparency, corporate governance, and conflict-of-interest management within the PFII ecosystem. Bhima Yudhistira, Executive Director of the Centre of Economic and Law Studies Celios, stated that emphasizing investment flexibility without stronger governance risks attracting capital focused on tax efficiency rather than sustainable investment. Environmental groups, including Trend Asia and CERAH, expressed concern that the PFII might become a financing platform for fossil fuel projects instead of promoting equitable renewable energy. They urged policymakers to prioritize green investment and ensure Danantara drives renewable energy investment.
Original source
This summary was generated from a story originally published by Bali news.
More from Bali
Must readBali news·2 hours ago
Debbie Welsch details her $550,000 retirement savings in Bali
At 57, Debbie Welsch moved to Bali with her 82-year-old mother after selling her US home and belongings for $550,000. She now pays $375 per month for rent and has established a new life focused on managing her savings. In an episode of Cost of Living, Welsch explains the expenses of retiring in Bali and how she budgets for her life abroad.
3 min read
Bali news·2 hours ago
GOCO Hospitality expands Fivelements from Bali to Montenegro, with new openings in Samui and Switzerland
Fivelements, a wellness retreat brand founded in Bali in 2010 and acquired by GOCO Hospitality in 2024, is expanding globally. The original Ubud retreat in Bali will reopen in late 2026 after a redesign, with a more extensive transformation planned for 2028. New locations include Fivelements Samui in Thailand, set to open in early 2027 as the brand's flagship with a longevity clinic. Further expansion includes Switzerland in 2029 and Kolašin, Montenegro, in 2030. A Spanish location is also in development, though no date has been announced. This expansion reflects a trend in high-end wellness towards integrated protocols and longer stays.
18 min read
Bali news·3 hours ago
Lisa Snowdon visits Bali wellness retreat after separation from fiancé
TV presenter Lisa Snowdon, 54, recently visited a wellness retreat in Bali following her separation from George Smart, her partner of 12 years. Snowdon shared on Instagram that wellness for her is about connection, including meeting people, engaging in conversations, physical activity, mindfulness, and occasional emotional release. She mentioned having a "good old cry" during her trip. Snowdon also stated that she feels stronger mentally and physically after participating in activities like pilates and hot Bikram yoga. Concerns about her relationship status arose when she was seen without her engagement ring and Smart was largely absent from her Instagram since January. The couple had previously dated two decades ago, rekindled their romance in 2014, and became engaged in 2016. Last year, Snowdon indicated she was not in a rush to marry, viewing marriage as a contract and preferring a relaxed approach.
7 min read