The Indonesian government is finalizing regulations for the establishment of a Financial Sector Special Economic Zone in Bali as part of its strategy to boost investment and strengthen national economic competitiveness.

Kura-Kura Bali Special Economic Zone has been identified as one of the potential locations for the development of the Indonesia Financial Center, in line with the directive of President Prabowo Subianto. The area is considered to have strong potential to become a financial services hub capable of attracting global investors.

Last weekend, several government officials visited the development sites of Kura-Kura Bali SEZ and Sanur SEZ in Bali. The officials included Coordinating Minister for Economic Affairs Airlangga Hartarto, Minister of Investment and Downstreaming/Head of the Investment Coordinating Board Rosan Roeslani, and Danantara Chief Operating Officer Dony Oskaria.

“The government is currently finalizing regulations as the foundation for the establishment of a Financial Sector Special Economic Zone in Bali. This zone is designed to accommodate various requirements for developing a financial center, ranging from management schemes to facilities that can attract global investors,” Airlangga said in a press statement, quoted on Monday, May 4, 2026.

According to Airlangga, the visit was part of the government’s effort to ensure the acceleration of economic zone development while encouraging investment realization, particularly in quality tourism and international-standard healthcare services.

The visit also aimed to assess the readiness of the Indonesia Financial Center development as one of the strategic steps to strengthen Indonesia’s economic competitiveness.

BTID, as the Development and Management Business Entity of Kura-Kura Bali SEZ, presented the Knowledge District ecosystem as the planned location for the Financial Sector SEZ development. The area is designed as an integrated ecosystem that optimizes knowledge capital, education, and human resources as drivers of new economic growth in Bali.

Going forward, the development of Kura-Kura Bali SEZ will continue through the completion of several strategic projects in 2026. As of the first quarter of 2026, Kura-Kura Bali SEZ recorded realized investment of IDR 1.62 trillion and absorbed 2,146 workers.

Previously, Rosan Roeslani confirmed that the government would soon establish a task force and an authority body for the Indonesia Financial Center. This measure is intended to accelerate the development of the IFC in Bali.

“Mr. Coordinating Minister has just conveyed that it will be established as soon as possible,” Rosan said at the Coordinating Ministry for Economic Affairs office on Tuesday, April 28, 2026.

The idea of establishing the Indonesia Financial Center evolved from the initial concept of a family office. The family office plan was first introduced by Luhut Binsar Pandjaitan in mid-2024, when he was serving as Coordinating Minister for Maritime Affairs and Investment under Indonesia’s seventh president, Joko Widodo.

The plan to develop the IFC in Indonesia gained further momentum after Luhut reported the latest national economic conditions to President Prabowo Subianto at the Merdeka Palace on Tuesday, April 21, 2026. He said strengthening the Indonesia Financial Center initiative is important to capture potential shifts in global capital flows.

“We are not only talking about surviving, but also about how to benefit from this situation. Accelerating GovTech and developing the Indonesia Financial Center are strategic steps to capitalize on the shift in global capital flows,” Luhut said through his official Instagram account.