Bali’s ‘big leap’: from holiday paradise to international financial centre

Indonesia is pushing ahead to transform the holiday island of Bali into an international financial centre, with its parliament set to debate new laws this week while a key conference set out targets and cited models such as Hong Kong as an example.Minister of Investment and Downstream Industry Rosan Roeslani, who heads state-owned sovereign wealth fund Indonesia" class="entity-link entity-organization" data-entity-id="28064" data-entity-type="organization">Danantara Indonesia, said the financial centre was part of Jakarta’s efforts to establish itself as a trusted destination for investors seeking to grow their money in the long term.Rosan, alongside other officials, Hong Kong’s Deputy Secretary for Justice Horace Cheung Kwok-kwan, sovereign fund operators, family office leaders and institutional investors were among about 120 participants at the inaugural Nusa Dua Forum in Bali on Friday, organised by the South China Morning Post with Indonesia" class="entity-link entity-organization" data-entity-id="28064" data-entity-type="organization">Danantara Indonesia as partner.