Bali is seen as a possible location for the planned Indonesia International Financial Center (PFII), but can the resort island benefit from the development without becoming overburdened?
Beach walk: Tourists walk on April 8, along Kuta beach near Denpasar, Bali. (AFP/Sonny Tumbelaka)
Bali has emerged as one of the possible locations for the planned Indonesia International Financial Center (PFII), but there are growing concerns whether the resort island can benefit from the development without becoming overburdened.Government officials have pointed to Bali and Jakarta as potential locations after the House of Representatives passed the bill to establish the financial center on July 21, paving the way for a project the government hopes will draw between Rp 300 trillion (US$16.6 billion) and Rp 500 trillion in funds from international investors.
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“It will be announced once everything is ready. The [key] consideration is which of these is the low-hanging fruit, the one that we could build faster,” said Coordinating Economy Minister Airlangga Hartarto on July 23, as quoted by news agency Antara.
