The Kura-Kura Bali district is now the newest Special Economic Zone (SEZ), focusing on commercial operations related to the tourist and creative sectors. The decision to establish this zone was made by President Joko Widodo. In Bali’s Denpasar City, it is intended to hasten regional growth and employment generation.
This obligation is stated in Kura-Kura Bali Special Economic Zone Government Regulation Number 23 of 2023, signed by Jokowi on the 5th of April, 2023. Article 1 of the government regulation states, “With this government regulation, the Kura-Kura Bali Special Economic Zone is established.”
The Kura-Kura Bali SEZ covers 498 hectares in the South Denpasar District of Denpasar. This SEZ is bounded north, east, south, and west by Serangan Village, South Denpasar District, Denpasar City, and the Badung Strait. In the government regulation, it is stated that tourism is a commercial activity comprising actions to assist the organisation of amusement and recreation, meetings, incentive trips, exhibits, and connected activities.
Check out Kura-Kura Bali’s official website here
On the other hand, the creative industry consists of commercial operations that improve the added value that comes from the exploitation of intellectual property in the form of individual creativity, skill, and ability into a commercial product. A few of its enterprises include fashion, arts and crafts, communication technology, and multimedia content.
After the government regulation takes effect, the government will provide a maximum of 30 years for commercial firms desiring to enter and do business in the area. Anyone intending to manage or invest in this SEZ must be a business entity.
Article 6 paragraph 1 stated: “The business entity referred to in Article 5 paragraph 1 undertakes the development of the Kura-Kura Bali Special Economic Zone until it is ready to operate, not later than 36 months after this Government Regulation comes into force.”
According to Airlangga Hartarto, the Coordinating Minister for the Economy, constructing the Kura-Kura Bali SEZ will cost IDR 104 trillion over the next 30 years. Up to 35,000 direct and 64,000 indirect employees might get new jobs due to the Kura-Kura Bali SEZ development. Under the assumption that the exchange rate will be IDR 15,146 for every US dollar, the region will save foreign exchange totalling up to $31.8 billion, or the equivalent of IDR 481.64 trillion.
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