Indonesia Accelerates Plans to Build a 'New Dubai' in Bali

The government is preparing Bali to become Indonesia’s International Financial Centre (PFII), which is expected to strengthen the nation’s competitiveness as a global financial hub. The Supervisory Board for State-Owned Enterprises (BP BUMN) stated that Dubai is being used as the benchmark for the PFII’s development.

In its development, the government is using the Dubai International Financial Centre (DIFC) as a benchmark because it has proven successful in transforming Dubai into one of the world’s financial centres, BP BUMN wrote on its official Instagram account. BP BUMN explained that Dubai currently offers corporate tax incentives of up to 0% for 40 years, provides a workplace for more than 50,000 professionals, and is known as the ‘Wall Street of MEASA’ — the Middle East, Africa, and South Asia.

Through this adapted model, the Indonesian International Financial Centre in Bali is expected to attract global investment, deepen the domestic financial market, and strengthen Indonesia’s position on the international stage, BP BUMN wrote. To support the development of the PFII, on 14 July 2026, Head of BP BUMN and Chief of Operation of Danantara Indonesia, Dony Oskaria, held a meeting with Chief Investment Officer of Danantara Indonesia, Pandu Sjahrir, along with the managing directors and board of directors of BPI Danantara.

The discussion focused on the readiness of the investment strategy, the development of a global-standard financial ecosystem, and Danantara’s role in developing assets, infrastructure, and services for the PFII. Through this step, Bali is expected to become a magnet for international investment, strengthen Indonesia’s competitiveness, and open up opportunities for sustainable economic growth, the post stated.