Government to Develop Special Economic Zone for Finance Adopting Dubai Model

The Indonesian government plans to establish an international financial centre in the form of a Special Economic Zone (SEZ) for the financial services sector, adopting the model from the United Arab Emirates. Finance Minister Purbaya Yudhi Sadewa conveyed this strategic plan during a media briefing in Jakarta on Friday, 24 April 2026. Purbaya Yudhi Sadewa emphasised that the concept proposed by the National Economic Council (DEN) is not a family office as previously rumoured. As reported by Bloombergtechnoz, President Prabowo Subianto has given specific instructions to emulate Dubai’s financial centre in developing the project. “Actually, it’s not a family office; it’s a special economic zone for the financial sector. The concept that appeals to me is the Dubai model. We will pursue it in the near future. The President has already given orders and guidance,” said Purbaya, the Finance Minister. The implementation of this project will be coordinated by Coordinating Minister for the Economy Airlangga Hartarto. The Ministry of Finance, along with the Ministry of Investment and Downstreaming/Badan Koordinasi Penanaman Modal (BKPM), is also actively involved in refining the regulations related to the zone’s operations. Minister of Investment and Downstreaming/Head of BKPM Rosan Roeslani confirmed that the review of regulations is ongoing to ensure the functionality of this investment vehicle. On the other hand, the development initiative for the Indonesia Financial Centre has also attracted the attention of Presidential Special Advisor Luhut Binsar Pandjaitan, who previously met with President Prabowo at Merdeka Palace on Tuesday, 21 April 2026. Luhut stressed the importance of accelerating GovTech and this financial centre to respond to the dynamics of global capital flows. According to him, collaboration between the government and business actors is crucial so that the current economic momentum can bring national progress. “We are not just talking about survival, but how to take advantage of this situation. Accelerating GovTech and building the Indonesia Financial Centre are our strategic steps to leverage the shift in global capital flows. With solid collaboration between the government and the business world, we are optimistic that this momentum can become a catalyst for a national leap forward,” stated Luhut, the Presidential Special Advisor.