Hanoi (VNA) - Indonesia is advancing plans to develop the KEK Kura Kura Bali Special Economic Zone (SEZ) into a new international financial hub in Asia, aiming to strengthen its position in global capital flows and diversify its economy beyond traditional sectors.
According to policymakers and experts, the initiative is part of Indonesia’s broader strategy to leverage its status as Southeast Asia’s largest economy to attract international investment and financial services.
The KEK Kura Kura Bali SEZ is expected to serve as a platform for innovative financial activities, including sustainable finance, digital finance, and investment management.
Dr. M. Lucky Akbar from the Indonesian Ministry of Finance, noted that the country has both the potential and a clear roadmap to realise this ambition. He emphasised that Bali offers strategic advantages, including its global reputation as a tourism destination, improving infrastructure, and growing connectivity, which can help attract international investors and financial institutions.
The project is designed to operate under a more flexible and competitive regulatory framework, with incentives to draw global capital and encourage the establishment of financial firms. Authorities are also working to ensure transparency, legal certainty, and alignment with international standards - key factors for building investor confidence.
In addition, Indonesia is focusing on developing human resources and strengthening institutional capacity to support the financial sector’s expansion.
The initiative reflects Indonesia’s ambition to position Bali not only as a world-class tourism destination but also as a regional financial hub, capable of competing with established centres in Asia.
If successfully implemented, the KEK Kura Kura Bali SEZ could play a significant role in enhancing Indonesia’s economic resilience, attracting high-quality investment, and integrating the country more deeply into the global financial system./.
