Kura Kura Bali SEZ to Boost Bali's Economic Growth

By Editorial Team 11/04/2023
Summary

President Joko Widodo signed Government Regulation (PP) No. 23/2023 on the Kura Kura Bali Special Economic Zone (KKB SEZ), mandating the SEZ National Council to establish a business entity that builds and manages the area no later than 30 days from Apr 5, 2023, or when the regulation takes effect.

"The SEZ National Council is evaluating the completion of the development and the readiness to operate the KKB SEZ," an excerpt of the regulation reads. The KKB SEZ, sitting on a 498-hectare area on Serangan Island, Denpasar City, will require a total investment of Rp 104.4 trillion.

The KKB SEZ plans to have special facilities such as a marina, a center for excellence for education, a tech park, and a lifestyle wellness center.

This area can potentially provide jobs for 99,853 workers when fully operational in 2052 and generate a cumulative foreign exchange of Rp 477 trillion. This area is expected to contribute Rp 4.6 trillion in foreign exchange in the first five years.

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