Bali Foreign Investment Advisory Opens New Concept Store to Contribute to a Sustainable and Inclusive Economic Recovery in Bali

Bali, like many other parts of the world, has experienced the crippling economic impact caused by the Covid-19 pandemic

In late 2022 Bali, the ‘Island of the Gods’, hosted the 17th Annual G20 summit. Aligned with the Indonesian government’s G20 theme – Recover Stronger Together: Advancing Innovative, Inclusive, and Collaborative Growth – Bali Foreign Investment Advisory Service (BFIA) has opened a new retail suite in the heart of Canggu, Bali to contribute to the recovery of Bali, and the nation’s economy.

BFIA is offering investors new fast-track investment and legal services while promoting sustainable and inclusive investment in Bali and across Indonesia, including the Indonesian government’s five national super-priority tourism destinations.

“Our mission is to contribute to sustainable and inclusive investment within the tourism, creative, digital, property, marine and medical sectors of the economy of Indonesia”, said Intan Westlake, Bali Foreign Investment Advisory spokeswoman.

“We began informally in August 2020 as a response to Bali’s economic crisis. A collaboration of senior and experienced women in investment services from a national women’s network was asked by President Jokowi to support Bali’s economic recovery.”

“We started by bringing a new ‘one business day’ timeline service to establish a foreign investment company, known as a PMA (or Perseroan Terbatas Penanaman Modal Asing) to Bali. This is the first time that such a service has been offered to foreign investors in Bali and now nationally”, Ms Westlake said.

“The new concept store will promote sustainable and inclusive investment while showcasing Indonesian and foreign-owned small and medium enterprises’ (known locally as UKM’s) products. These enterprises provide much of job creation opportunities for Indonesians. We have served investors across Indonesia and promoted inclusive investment while the government of Indonesia continues to reform investment policy”.

“Our new footprint in Bali has included forming the ‘Women’s Investment Community – Bali’, made up of Indonesian and International women investors and entrepreneurs who contribute to the economy. This is part of our mission to contribute to an inclusive economy”, Westlake said.

Social Impact Fund

As part of BFIA’s commitment to an inclusive economy, it formed a collaboration with customers and the IDEP Foundation Bali to support single mothers and their children in low-income rural areas across Bali, in August 2020. This has assisted over 500 Indonesians since its creation.

IDEP Foundation Executive Director, Muchamad Awal, is extremely grateful for the collaboration and stated “to our beneficiaries, this support is tremendously meaningful and very effective in helping them to ease their current extreme economic burden.”