President Prabowo to Establish Special Financial Centre

President Prabowo Subianto has 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 are 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.

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 previously planned to invest in the Middle East but reconsidered due to escalating 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.

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, as I said, requires us to work harder and more meticulously now,” Prabowo added.