The island of Bali opened its borders just over twelve months ago as conditions of the global pandemic, COVID-19 eased. Bali’s economy suffered a historic contraction of -9.31% during the height of the pandemic, and despite current global economic challenges in 2023, Bank Indonesia is forecasting economic growth between 4.4% and 5.2% in Bali.
Bali Foreign Investment Advisory Service (BFIA) has aligned with the Indonesian government’s investment policies and theme from the G20 and B20 meetings held in Bali in late 2022 – Recover Stronger Together: Advancing Innovative, Inclusive, and Collaborative Growth.
To contribute to the government’s strategy, BFIA is forming strategic partnerships with Indonesia’s leading banks and through a collaboration with Soebagio & Partners. The goal of these partnerships is to promote strategic inclusive investment opportunities to the bank’s high net-worth customers.
In August 2020, BFIA began informally to provide new national investment standards of services to contribute to the economic recovery in Bali, and across Indonesia.
“For an example we offer a one business day timeline to establish a foreign investment company, a first for Bali, independent due-diligence property checks and national standards to protect assets and investments to the investor”, Intan Westlake, BFIA spokeswoman, said.
“Collaborations with leading Indonesian banks like PermataBank are important so we can present new national standard investment services and inclusive investment opportunities to their customers, as well as through firms like Soebagio & Partners which will contribute to a collaborative investment environment in Bali and throughout Indonesia”, Ms Westlake said.
David Haryanto, Region Head PermataBank (for Bali and Lombok) stated, “This collaboration is one of our initiatives to continuously expand our customer segments and deepen our relationships with them. Through this partnership, we offer our customers the opportunity to gain insights into investment, thereby providing significant value to them.”
“Okki Soebagio, Founding Partner of Soebagio & Partner said, “We are very excited with this inclusive investment initiative where we can present various collaborative investment opportunities, to include women-owned and women-focus business investment opportunities to PermataBank Priority clients in Bali”. We look forward to more impactful collaborations in the future”.
Our first inclusive and collaborative investment insight series with PermataBank had the generous support of Apura Kempinski Bali, Como Uma Canggu, Heyy Juice Bali, Java Mountain Coffee, Tugu Hotels & Resorts, Saba Bay Wines, fund-raising for our Single Mother & Children initiative with the IDEP Foundation Bali” said Ms Westlake.
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