Bali Governor Hopes for Improved Legal Certainty in Investment at IIC 2026
DENPASAR, The East Indonesia – Bali Governor Wayan Koster stated that the Bali Provincial Government is currently advancing the realisation of Bali’s development vision, “Nangun Sat Kerthi Loka Bali through a Planned Universe Development Pattern in the New Era of Bali”. The vision carries the meaning of preserving the sanctity and harmony of Bali’s nature and all within it, in order to achieve a prosperous and happy life for the Balinese people, both in the unseen and visible realms. This vision serves as the foundation for safeguarding Bali’s nature, people and culture in a holistic and sustainable manner. He conveyed this while attending the Indonesia Insolvency Conference (IIC) 2026 at The Meru Sanur on Thursday (16/7).
Governor Wayan Koster said that Bali has a distinctive perspective on development, because development is measured not only by economic growth, but also by sustainability, good governance and social harmony.
Within the framework of the regional development vision, Bali is committed to realising a prosperous and competitive society through the principles of sustainability, strengthened governance, and respect for human values and local wisdom.
Therefore, when this international conference discusses cross-border restructuring and insolvency, the Bali Provincial Government views it as part of a larger effort to improve the quality of legal certainty, strengthen the effectiveness of enforcement and inter-agency coordination, and broaden Indonesia’s readiness – including Bali as the conference venue – to contribute to establishing international standards of practice.
This aligns with today’s theme, “Embracing the UNCITRAL Model Law on Cross-Border Insolvency as a Roadmap for the Future of Restructuring & Insolvency Practice”. The theme is highly strategic, because in reality business activity is increasingly moving across borders. Issues of restructuring and insolvency can no longer be seen as merely local matters, but require cooperative, predictable and efficient standards so that legal certainty and the trust of stakeholders can be established.
In an interview, Governor Wayan Koster said that a regulation in the form of a law is currently being drafted, so that development can be spread and shifted to the regions of North, East and West Bali, because hotel and property investment in Bali is very high, and there is of course potential for cross-border problems in these activities that must be handled. Thus Bali, as the chosen host, can play an active and beneficial role in future development.
The UNCITRAL (United Nations Commission on International Trade Law) Model Law framework essentially exists to answer challenges that have long persisted, namely to ensure that restructuring and insolvency processes in one country can be understood, coordinated, and most importantly, can proceed with better legal certainty when they involve parties and assets across national borders.
This conference is not merely an academic meeting or technical discussion, but part of a major effort to ensure that the legal system and business dispute resolution mechanisms can answer the needs of the times, such as an increasingly interconnected economy, cross-border transactions, and networks of creditors, assets and interests that no longer sit within a single national jurisdiction.
Through the spirit of “Nangun Sat Kerthi Loka Bali”, there is a commitment to maintaining a balance between economic development, good governance and the sustainability of social life. In that context, the Bali Provincial Government views the strengthening of the restructuring system as part of efforts to create a conducive investment climate, because the business world requires clear processes, professional case handling, and resolution mechanisms that provide certainty for creditors, investors, debtors and all related parties.
In agreement with the Bali Governor, the Deputy Minister of Investment and Downstream Industry of the Republic of Indonesia, Todotua Pasaribu, stated that this event, initiated by the Indonesian Curators and Administrators Association (AKPI), is very important – Indonesia must open up regarding how bankruptcy rulings can be recognised in various countries, and Indonesia is also beginning to adjust its law accordingly, and this is one of the communication forums with various insolvency organisations in the Asia-Pacific.
Thus, with the adoption of the UNCITRAL Model Law in Indonesia, legal certainty for doing business in Indonesia would be strongly supported and could increase the value of investment and raise the Indonesian government’s expectations.
“What we need in the investment climate is certainty – certainty in the delivery of permits, and also certainty in terms of legalisation and the law when investors run their businesses in Indonesia, including Bali,” he said.
For that reason, the aspects of human resources and institutional capacity are extremely important, because a change in the legal framework will only be effective if there is readiness in standard procedures, technical capability, and a working culture that supports cooperation.