Eyewitness News – SANUR
18.July.2026
Governor Wayan Koster announced that the Bali Provincial Government is actively advancing its regional development vision, “Nangun Sat Kerthi Loka Bali” (Developing Bali’s Sacred and Harmonious Soul through a Planned Universal Development Pattern towards a New Era of Bali).
The vision centers on preserving the purity and harmony of Bali’s nature and its elements to ensure a prosperous and happy life for its people, both spiritually and materially (niskala-sekala). This framework serves as the foundation for the holistic and sustainable preservation of Bali’s environment, people, and culture.
The Governor shared these insights during the 2026 Indonesia Insolvency Conference (IIC) held at The Meru Sanur.
Governor Koster emphasized that Bali maintains a unique perspective on regional progress, where development is measured not merely by economic growth, but also by sustainability, good governance, and social harmony.
Under this vision, Bali is committed to fostering a prosperous and competitive society driven by the principles of sustainability, strengthened governance, human values, and local wisdom.
Commenting on the conference theme, “Embracing the UNCITRAL Model Law on Cross-Border Insolvency as a Roadmap for the Future of Restructuring & Insolvency Practice,” Koster noted its highly strategic relevance. He pointed out that contemporary business activities increasingly operate across borders. Consequently, restructuring and insolvency issues can no longer be viewed through a purely local lens; they require cooperative, predictable, and efficient standards to establish legal certainty and build stakeholder trust.
Governor Koster revealed that new statutory regulations are currently being drafted. This legislation aims to decentralize development, shifting economic focus toward North, East, and West Bali. Given the high volume of hotel and property investments on the island, he noted that cross-border disputes inherently carry a significant risk potential that must be addressed globally.
The UNCITRAL (United Nations Commission on International Trade Law) Model Law framework essentially addresses ongoing global challenges. It ensures that restructuring and insolvency processes in one country can be clearly understood, coordinated, and—most importantly—executed with greater legal certainty when dealing with multinational assets and stakeholders.
At the conference, Koster added, is more than a scholarly gathering or technical discussion. It is part of a broader effort to ensure that legal systems and dispute resolution mechanisms can keep pace with modern demands, characterized by interconnected economies, cross-border transactions, and networks of creditors and assets that span multiple jurisdictions.
Grounded in the “Nangun Sat Kerthi Loka Bali” philosophy, the administration remains dedicated to balancing economic growth with good governance and social sustainability.
Within this context, the Bali Provincial Government views the strengthening of the restructuring system as vital to fostering a conducive investment climate. The business community requires clear processes, professional case handling, and resolution mechanisms that offer certainty for creditors, investors, debtors, and all related parties.
Echoing the Governor’s sentiments, the Deputy Minister of Investment and Downstreaming of the Republic of Indonesia, Todotua Pasaribu, highlighted the importance of the event initiated by the Indonesian Association of Receivers and Administrators (AKPI).
Pasaribu stated that Indonesia must open itself to international standards regarding the cross-border enforcement of bankruptcy rulings. He noted that Indonesia is beginning to align its legal frameworks accordingly, and the IIC serves as a key communication forum with various insolvency organizations across the Asia-Pacific region.
The adoption of the UNCITRAL Model Law in Indonesia is expected to bolster legal certainty for businesses, thereby driving investment value and fulfilling central government objectives.
“What we need in an investment climate is predictability—certainty in licensing services, as well as legal and statutory certainty when investors run their businesses in Indonesia, including Bali,” Pasaribu explained.
Consequently, human resource development and institutional capacity building remain critical. The Deputy Minister concluded that legal framework reforms will only be effective if supported by standardized procedures, technical expertise, and a corporate culture that champions international cooperation.
Reporter: Daniel Herry
