Beyond tourism: Indonesia unveils plan to make Bali a financial hub
Indonesia has unveiled ambitious plans to transform Bali into a major regional financial center through the creation of the Kura Kura Bali Special Economic Zone (SEZ), TV BRICS reports.
According to VNA, the initiative marks a significant step in the country’s strategy to expand its role in global finance and attract international investment.
The project is part of a broader national effort to strengthen Indonesia’s position as a leading economic power in Southeast Asia while reducing reliance on traditional industries such as tourism and commodities. Authorities envision the Bali SEZ as a hub for sustainable finance, digital financial services, investment management, and cross-border capital flows.
Officials emphasize that the zone will operate under a modern regulatory framework designed to foster competitiveness and appeal to global investors. The Indonesian government is prioritizing transparency, legal certainty, and alignment with international standards to build confidence among foreign financial institutions.
Indonesia’s Ministry of Finance highlighted Bali’s global reputation, improving infrastructure, and expanding connectivity as key advantages. These factors, combined with the island’s international profile, make it an attractive location for financial activity beyond its traditional tourism appeal.
Analysts believe the Bali SEZ could serve as a gateway for investment into Indonesia and the wider region if implemented successfully. They also note that the initiative may intensify competition among emerging Asian financial centers, while accelerating regional growth in sustainable and digital finance.
Earlier, Qazinform News Agency reported that Kazakh President Kassym-Jomart Tokayev had entrusted the Government with adopting a new model for SEZ development.
