BALINEWSID.COM, DENPASAR – Bali Governor Wayan Koster has revealed that the Indonesian central government is preparing a plan to develop Bali into a Special Economic Zone (SEZ) for a global financial hub, or an International Financial Center (IFC).

According to Koster, the initiative is part of the government’s broader strategy to build a high-quality service and financial-based economy in Bali that is not dependent on natural resources.

“I received a call from Jakarta from Mr. Luhut Panjaitan regarding the President’s visit to Bali to prepare Bali as a Special International Financial Center,” Koster said.

Koster stated that the establishment of an international financial center in Bali could significantly strengthen the island’s economic ecosystem by encouraging investment inflows and creating new economic growth opportunities.

He also revealed that several major business players from Abu Dhabi and Dubai have started showing interest in Bali as a destination for investment and business expansion, citing the island’s comfort, stability, and strong cultural appeal.

“The presence of this financial center will be very good for Bali’s economic ecosystem because major business players from Abu Dhabi and Dubai want to move to Bali because Bali is very comfortable,” he said.

According to Koster, Bali is considered suitable to become a service and finance-based economic center because the island does not possess large-scale natural resources like many other regions in Indonesia.

“This is certainly a good and suitable direction for Bali’s quality economy, which does not rely on natural resources,” he added.

Despite the optimism, the Bali Provincial Government will continue discussing the plan with relevant teams to ensure the project delivers direct benefits to local communities and the region.

“However, we will discuss this further with the team so it can benefit the region and the people,” Koster stated.

Previously, the central government was reported to be finalizing plans for a financial-sector SEZ in Bali modeled after the Dubai International Financial Centre in the United Arab Emirates.

The proposed SEZ is designed to attract foreign investment, strengthen the financial services industry, and create opportunities for the development of banking, fintech, insurance, and capital market sectors in Indonesia.