"I believe that what the central government's idea is the best for Bali," he said on the sidelines of the launch of the marine resources balance sheet here on Friday.
The Bali provincial government, he said, is ready to implement the policy because it could generate economic value, including for Bali, which is known as the "Island of the Gods," as a destination for foreign investors, in addition to being a tourism destination.
The government will support this by easing investment steps for investors, he added.
However, he said that his side is still waiting for the finalization of rules and instructions from the central government regarding the investment concept for family offices.
"We are waiting for the central government because until now, there have been no instructions from the center," he said.
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The idea of family offices was first suggested by Coordinating Minister for Maritime Affairs and Investment, Luhut Binsar Pandjaitan, while speaking to delegates of the 10th World Water Forum (WWF) held in May 2024 in Nusa Dua, Bali.
"We encourage Bali to become a hub for family offices like in Hong Kong and Singapore," he said on May 18, 2024.
So far, a number of foreign conglomerates have shown interest in establishing a family office in Bali, he informed.
According to him, the team for implementing the family office program is planning to visit countries or special administrative regions that are applying a similar concept.
The goal of the visit will be to learn about the management of rich peoples' wealth and benchmark the investment concept.
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Translator: Dewa W, Kenzu
Editor: Yuni Arisandy Sinaga
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