Indonesia is planning to set up an international finance center in Bali, with officials having inspected the location over the weekend, The Jakarta Globe reported Monday.
Chief Economic Minister Airlangga Hartarto confirmed that the government has been working on a regulation for a financial special economic zone (SEZ) in Bali during a business visit to the region, according to the report.
The country is also looking to expedite development in the Kura Kura Bali special economic zone. Bali Turtle Island Development, which is in charge of the SEZ, says it will include innovation and international mangrove research centers, the report said.
The Kura Kura Bali SEZ, which attracted 1.62 trillion Indonesian rupiah worth of investment as of Q1 and created 2,146 jobs, will reportedly witness various strategic projects being completed in 2026.
The government has been exploring the formation of a financial special economic zone to attract capital from global investors amid rising geopolitical tensions, as previously reported by The Jakarta Globe.
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