Prabowo to Establish Special Financial Centre - BCA Sekuritas

President Prabowo Subianto stated that the government plans to build a Special Financial Centre to optimise Indonesia’s role as a safe investment destination amid global geopolitical turmoil. “Our plan is to create a Special Financial Centre. We’re currently looking for a location,” Prabowo said during the Working Meeting of the Merah Putih Cabinet at the State Palace in Jakarta on Wednesday. According to him, the proposal was put forward several years ago by Luhut Binsar Pandjaitan, Chairman of the National Economic Council (DEN), and is planned to be located in Bali. Prabowo assessed that the proposal is increasingly relevant now to demonstrate that Indonesia’s investment climate remains attractive amid global dynamics. In this regard, the President explained that many Russian and Ukrainian citizens have moved and settled in Bali since the conflict between the two countries began in 2022. Now, the President believes that this initiative can attract investors who had previously planned to invest in the Middle East but reconsidered due to rising tensions in the region. “It turns out that now the money from the Middle East, where does it want to go? Which country is not at war now? Indonesia is one of the most sought-after,” he said. Prabowo added that this step reflects his view that global crises are not only challenges but also create new golden opportunities. Furthermore, Prabowo conveyed that global turmoil should be seen as a momentum for Indonesia to present strategic initiatives and accelerate priority programmes. “The point is, we have a lot of potential. But this also means, as I said, we now have to work harder and more meticulously,” Prabowo added.