"Open and accurate regulations will prevent excessive interventions from governments. These kind of regulations will provide freedom to creators," he said during the Bali Fintech Agenda in Nusa Dua.
The country is hosting the annual meetings of the International Monetary Fund and the World Bank this week. It welcomes around 34 thousand participants representing various institutions.
The government is optimistic that the event can promote Indonesia on the international stage. It also believes the presence of foreign guests can give positive impacts to Bali and other regions.
"We should formulate the regulations carefully. We should let them grow," he added.
"If they produce successful innovations, they can bolster economic activities," he added.