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

Investment and Downstreaming Minister/Head of BKPM Rosan Perkasa Roeslani has stated that the Indonesian International Financial Centre (PFII) has the potential to operate in Jakarta during a transition period of two to three years before it becomes a fully-fledged international financial hub. Speaking to reporters at the Presidential Palace Complex in Jakarta on Thursday, Rosan, who also serves as CEO of Danantara Indonesia, confirmed that while the long-term plan is to establish the centre in Bali, immediate steps are being taken to launch operations in the capital. “The plan is indeed to build it in Bali. But preparations are needed, perhaps for two or three years, until it becomes an international-standard financial centre,” he said. Regarding initial capital, Rosan noted that the PFII plans to use the Danareksa Building in Jakarta. He added that he has already met with a number of investors who have responded positively to the financial centre project. The move follows President Prabowo Subianto’s directive to expedite the PFII after the House of Representatives approved the PFII Bill into law during a plenary session on Tuesday. Finance Minister Purbaya Yudhi Sadewa previously targeted the PFII to commence operations in 2026, emphasising that the state budget would only serve as a contingency reserve, with primary funding sourced from investors and Danantara.