Indonesia to launch International Financial Center in Jakarta

The Indonesian government has announced that the Indonesia International Financial Center (PFII) will begin its initial operations in Jakarta. This decision aims to capitalize on current investment momentum and ensure the institution becomes operational quickly, following directives from President Prabowo Subianto.

Jakarta was selected as the starting point due to its established financial ecosystem and superior infrastructure. While Jakarta serves as the immediate hub, the government is also evaluating plans to expand the PFII to Bali. Development in Bali is expected to take longer as it requires the construction of new physical infrastructure and buildings. One potential site under evaluation in Bali is land owned by the Daya Anagata Nusantara Investment Management Agency (Danantara).

Global wealth management entities and investors have responded positively to the initiative. The government previously engaged with approximately 110 wealth management representatives from Asia in Nusa Dua, Bali. The expansion into Bali is intended to leverage the region's ability to combine high-end financial activities with world-class tourism, helping to build a robust family office ecosystem in Indonesia.