Kura-Kura Bali SEZ Aims for Rp 104 Tln Tourism Investment

By Editorial Team 16/01/2023
sovereign wealth fund
Summary

The government authorized the establishment of the Kura-Kura Bali (KKB) Special Economic Zone (SEZ) with Rp 104 trillion worth of investments in the next 30 years. Coordinating Minister for Economic Affairs Airlangga Hartarto said the KKB SEZ, located on Serangan Island, Denpasar, Bali, will encourage investment in the tourism industry by developing marinas and resorts.

The KKB SEZ development was agreed upon at the National SEZ Council Session on Friday. The government targets KKB SEZ to open 35,000 jobs directly and 64,000 indirectly. The SEZs will also bring in US$31.8 billion in foreign exchange. According to Airlangga, SEZs that have been established brought in Rp 30.9 trillion in investment, or 27 percent of the total investment. The existing SEZs also opened new jobs for 27,526 people or 49 percent of the cumulative workforce.

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