Government Prepares Bali as Global Financial Centre

Head of the State-Owned Enterprises Ministry and Chief Operating Officer of Danantara, Dony Oskaria, stated that the government is preparing Bali as the location for Indonesia’s International Financial Centre (PFII), which is expected to strengthen the nation’s competitiveness as a global financial hub. The remarks were made during a meeting with Danantara’s Chief Investment Officer Pandu Sjahrir, along with managing directors and board members, to discuss the development readiness of the PFII. “In its development, the government is using the Dubai International Financial Centre (DIFC) as a benchmark, as it is considered successful in transforming Dubai into one of the world’s leading financial centres,” Dony said in a written statement in Jakarta on Tuesday. Dony noted that the DIFC offers various advantages, including zero percent corporate tax incentives for 40 years, serves as a hub for over 50,000 professionals, and is known as the ‘Wall Street of MEASA’ (Middle East, Africa, and South Asia). By adopting these best practices, Dony expressed hope that the PFII in Bali would attract global investment, deepen the domestic financial market, expand financing access, and strengthen Indonesia’s position in the international financial ecosystem. Dony conveyed that the meeting focused on investment strategy, the development of a global-standard financial ecosystem, and optimising Danantara’s role in supporting the assets, infrastructure, and supporting services of the PFII. He said the PFII is not just about building a financial district, but also about building global trust in Indonesia. “With a competitive and globally standardised ecosystem, we aim to bring in more investment that has a real impact on national economic growth,” Dony said. Through this synergy, Dony stated that the government is optimistic the PFII in Bali will become a magnet for international investment, strengthen Indonesia’s position as a regional financial centre, and drive sustainable national economic growth.