Indonesian government is reportedly preparing Bali to become a new financial hub. The goal is to attract international banks, asset managers, and private equity firms to accelerate national economic growth.
According to a Business Times article titled “Indonesia Weighs Transforming Bali into a Regional Finance Hub”, President Prabowo Subianto supports the plan, which aims to model Bali after India’s Gujarat International Finance Tec-City (GIFT City) and the Dubai International Financial Centre (DIFC) in the United Arab Emirates.
“The Bali financial zone would offer tax and regulatory exemptions, cut red tape and complex bureaucracy, a perennial problem for companies wanting to do business in South-east Asia’s largest economy,” Bloomberg wrote in an article dated Monday, October 13, 2025.
To realize this plan, Indonesia is considering implementing a different legal framework, with Singapore’s system being studied as a potential model due to its business-friendly reputation.
Concept still subject to change
Still quoting Bloomberg, sources say the government is currently working on a draft bill that will be submitted to the House of Representatives.
The Indonesia Financial City project reportedly involves the Ministry of Finance and the National Economic Council, and has the support of Ray Dalio, founder of Bridgewater Associates, who is said to be informally advising President Prabowo.
However, several sources also noted that the initiative remains at an early conceptual stage and may still undergo changes.
There has been no official statement from the government. However, Jodi Mahardi, spokesperson for the National Economic Council, told Bloomberg:
“The government wants to create a modern, transparent financial centre that supports national economic development,” Jodi said. “It is expected to become a platform that connects global investment with real opportunities in Indonesia’s real sector,” he added.
Sources : Bloomberg
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