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Casinos in Bali - Don't Bet On It

Bali Investment Board underlines that Casino's are not a welcomed Form of Investment.


Bali News: Casinos in Bali - Don't Bet On It
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(7/15/2003)

According to a report in the Indonesian-language Bali Post on July 7, 2003, the Chief of the Law and Public Relations Section of Bali's Investment Coordinating Board (BKPM-D), K. Suadnyana has formally shot down continuing speculation regarding the imminent construction of an entertainment/casino complex on Nusa Penida Island.

Statement in support of such a center by government officials from the Klunkung regency have drawn widespread public criticism and fueled speculation that such a casino was in the offing. The BKPM-D official admitted that an investment application for a casino had been submitted to his office but was subsequently not processed because this type of enterprise is officially blacklisted on the negative investment list issued by the Government. The negative investment list, last issued by the Government in the year 2000, stipulates areas of the economy formally closed to investment by either domestic or international investors.

Total Investments in Bali

Since the establishment of the BKPM in 1967, some $2.8 billion dollars have been invested in Bali.

The 63 new investment projects for Bali recorded during the first 6 months of 2003 have an estimate value of $87.1 million dollars. With the rapidly improving local economic picture, representatives of the BKPM-D are optimistic that Bali will be able to better the 100 new investment projects registered for the entire year of 2002.

Star Gazing

In reviewing the current investment climate, Mr. Suadnyana also told of recent feasibility studies carried out by Japanese astronomers for the establishment of a commercial observatory. Reportedly, the Japanese experts have identified Bali as an ideal location for star gazing.


© Bali Discovery Tours. Articles may be quoted and reproduced if attributed to http://www.balidiscovery.com.


 
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