Can Bali become a wealth-management hub?
Indonesia’s government hopes so. During the summer, senior government officials floated the notion of transforming the verdant and heavily touristed island into a leading destination for super-wealthy family offices.
Investment minister Luhut Pandjaitan said in June that wealthy families from around the world would come to see Bali as an “alternative place… to invest”, adding: “If Singapore, Abu Dhabi and Hong Kong can do it, why can’t we?”
He told a parliamentary hearing in Jakarta: “I think as long as Indonesia gets $100 billion to $200 billion in stages from this policy, it would be great.”
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