Indonesia's International Financial Centre May Initially Operate in Jakarta During Transition

The Indonesia International Financial Centre (PFII) may initially operate in Jakarta during a transitional period of two to three years before it is further developed in Bali, according to Minister of Investment and Downstreaming Rosan Perkasa Roeslani. Speaking at the Presidential Palace complex in Jakarta on Thursday, Rosan stated that President Prabowo Subianto has requested the PFII be followed up immediately after the House of Representatives approved the bill into law. The plan is for it to be established in Bali, but during this transition period, it might be set up in Jakarta first. Rosan, who also serves as CEO of Danantara Indonesia, said the centre plans to use the Danareksa Building in Jakarta. Regarding the establishment of the PFII, he noted that he has met with several investors who have given a positive response to the financial centre. Previously, Finance Minister Purbaya Yudhi Sadewa targeted the PFII to begin operations in 2026. Purbaya also stated that the state budget would only be used as a reserve fund for the centre’s operations if necessary, rather than as the main source of financing. The initial funding for the PFII’s development will primarily come from investors, including Danantara, making the state budget’s involvement purely precautionary.