Indonesia’s government is actively scouting locations across Bali for what could become the country’s first International Financial Center, a move that would place a major new hub of global finance on an island best known worldwide for beaches and temples, not banking towers.
Coordinating Minister for Economic Affairs Airlangga Hartarto said the government is currently evaluating several potential sites, including land owned by state-owned enterprises (BUMN), designated special economic zones (KEK), and areas surrounding I Gusti Ngurah Rai International Airport.
A Personal Site Visit With Indonesia’s Investment Chief
Airlangga said he and Minister of Investment and Downstream Industry/Head of Indonesia’s Investment Coordinating Board (BKPM) Rosan Roeslani had personally toured several candidate locations. “Yesterday, myself and Mr. Rosan visited several locations in Bali. One of them is land owned by state enterprises in Bali,” Airlangga said at the Coordinating Ministry for Economic Affairs in Jakarta on Wednesday, July 22, 2026.
Beyond state-owned land, the government also reviewed several special economic zones and other areas across the island as alternative sites. “So that included looking at several special economic zones yesterday, as well as land in West Bali and land near the airport owned by state enterprises. Those are the alternatives being considered for establishing the financial center,” he said.
Not Limited to Existing Economic Zones
Airlangga was careful to note that the government isn’t restricting its search to areas that already carry special economic zone status. “We have options, including some outside the KEK zones,” he said.
No final decision on the location has been made. According to Airlangga, that decision will only come after Indonesia’s International Financial Center Law takes effect and the results of the government’s site assessment are formally reported to President Prabowo Subianto. “We’re still studying this. It will only be decided after the law is passed and the findings are reported to the president,” he said.
What Factors Into the Decision
Airlangga said site selection isn’t based on land area alone. The government is also weighing the readiness of supporting infrastructure, including healthcare services, for whichever location is ultimately chosen. He noted that several of the sites under review sit relatively close to one another, though he stressed the financial center itself doesn’t need to be located within a formal special economic zone.
“No, the facility itself is a financial center facility. But if you carve out a specific designated area, that’s what becomes a KEK,” he explained.
Legal Framework Still Being Finalized
Regarding implementing regulations, Airlangga said the government will only begin drafting a Government Regulation (PP) once the International Financial Center Law is officially enacted. “Yes, once the law is passed, then the government regulation will be prepared,” he said.
Airlangga added that the government is still calculating the initial investment required to develop the financial center, and has not yet set a specific investment target for the project. “We’ll see roughly how much investment can be attracted there,” he said.
What This Means for Bali’s Future
For an island whose economy has long been almost entirely dependent on tourism, a designated international financial center would represent one of the most significant economic diversification efforts in Bali’s modern history, a genuine attempt to build a second pillar of economic activity alongside hospitality and travel. Whether the center ultimately lands near Ngurah Rai Airport, in West Bali, or elsewhere, its presence would mark a notable shift in how the island is positioned on the global economic map, no longer solely a destination to visit, but potentially a place to do serious business.
For now, the project remains in its assessment phase, with legislative approval, government regulation, and a final site decision all still pending.
