{
    "success": true,
    "data": {
        "id": 1872368,
        "msgid": "indonesia-unveils-plan-for-world-class-international-financial-hub-1784631012",
        "date": "2026-07-21 16:37:33",
        "title": "Indonesia unveils plan for world-class international financial hub",
        "author": "",
        "source": "ANTARA_EN",
        "tags": "",
        "topic": "Finance",
        "summary": "Indonesia is advancing legislation to establish a globally competitive international financial centre designed to attract foreign investment and complement the existing domestic system. Finance Minister Purbaya Yudhi Sadewa told parliament the bill rests on three pillars: expanding capital access, building a secure technology-driven ecosystem with its own court, and developing local talent. The government expects the hub to broaden the tax base, create high-quality jobs, and help achieve President Prabowo Subianto's 8 percent economic growth target.",
        "content": "<p>The PFII Bill is not just a formal regulation, but a new architecture\nfor Indonesia\u2019s financial future,Jakarta (ANTARA) - Indonesia\u2019s proposed\ninternational financial center (PFII) is designed to complement the\nexisting domestic financial system rather than replace it, Finance\nMinister Purbaya Yudhi Sadewa stated on Tuesday.<\/p>\n<p>Delivering the government\u2019s final position on the Indonesian\nInternational Financial Center (PFII) Bill during the 26th Plenary\nSession of the House of Representatives (DPR RI), Purbaya underscored\nthat the initiative aims to establish an integrated, world-class\nfinancial ecosystem.<\/p>\n<p>\u201cThe PFII Bill was born out of the realization that, as the largest\ncountry in Southeast Asia and a member of the G20, it is time for\nIndonesia to have its own financial center that is credible,\nindependent, has integrity, and is globally competitive,\u201d the minister\nsaid.<\/p>\n<p>Purbaya noted that deliberations during the Working Committee (Panja)\nand Level I Working Meetings produced constructive solutions to ensure\nthe framework remains attractive to foreign investors while safeguarding\nnational interests.<\/p>\n<p>The draft law is built on three foundational pillars designed to\nreshape the nation\u2019s economic landscape, beginning with expanding access\nto capital and investment.<\/p>\n<p>By attracting sustainable foreign direct investment and high-quality\nportfolio inflows, the bill aims to expand the economy and provide the\nlong-term financing needed to hit President Prabowo Subianto\u2019s ambitious\n8 percent annual growth target.<\/p>\n<p>Beyond capital inflows, the framework emphasizes innovation and\ngovernance to build a secure, technology-driven financial ecosystem.<\/p>\n<p>A key feature of this pillar is the establishment of a dedicated PFII\ncourt and arbitration body, providing international business entities\nwith greater legal certainty while fully respecting Indonesia\u2019s legal\nsovereignty.<\/p>\n<p>Finally, the legislation focuses on talent development and capacity\nbuilding to ensure these benefits directly support the domestic\nmarket.<\/p>\n<p>By creating premier career opportunities for Indonesian financial\nprofessionals, encouraging technology transfer, and lowering the overall\ncost of capital, the financial hub is designed to deliver long-term\ncompetitive advantages across the economy.<\/p>\n<p>Purbaya added that establishing the financial hub would broaden the\ndomestic tax base and generate multiplier effects on job creation across\nthe country.<\/p>\n<p>\u201cThe PFII Bill is not just a formal regulation, but a new\narchitecture for Indonesia\u2019s financial future,\u201d Purbaya said,\nreaffirming the joint commitment of the government and the DPR to\nstrengthening Indonesia\u2019s position in the global economy.<\/p>\n<p>Related news: Bank Indonesia backs financial hub to boost external\nresilience<\/p>\n<p>Related news: Indonesia\u2019s financial hub to focus on financial, real\nsectors: Purbaya<\/p>\n<p>Related news: Indonesia\u2019s financial hub aims to attract long-term\nforeign investment<\/p>\n<p>Translator: Rizka Khaerunnisa, Yashinta Difa<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/indonesia-unveils-plan-for-world-class-international-financial-hub-1784631012",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}