Purbaya Confirms PFII Location Will Not Be Inside SEZ, Here Are the Leaks

Finance Minister Purbaya Yudhi Sadewa has stated that his ministry has not yet determined the location for the Indonesian International Financial Centre (PFII). However, he confirmed that the PFII location will not be situated within a Special Economic Zone (SEZ), as the government wishes to avoid overlapping statuses between the SEZ and the PFII. “It will depend on which proposal is the best. If there is an SEZ, it can be dissolved, so it is not an obstacle,” Purbaya said during the APBN KITA press conference at the Ministry of Finance in Jakarta on Tuesday, 21 July 2026. “But basically, we will see what is best. What is clear is that the infrastructure there must be easy to build or already partially in place, and the location must be attractive for foreign investors with substantial funds to come,” he stated. Purbaya explained that according to the PFII Law, the authority to determine the location rests with the Finance Minister. However, a decision will only be made after a team has assessed the various proposals submitted. “There are several proposed names, including North Bali, Kura-Kura, and Sanur. But the clear proposals are not yet finalised. We will see which is the most logical, the quickest to implement, and the cheapest in terms of cost for the state,” Purbaya said. “Or which one can best attract foreign investors or wealthy individuals to place their money there, that is what we will choose,” he added. Previously, Deputy Chairman of Commission XI of the Indonesian House of Representatives, Mohamad Hekal, stated that the determination of the PFII location would be carried out through a Government Regulation based on a proposal from the Finance Minister to the President. “The PFII area will be proposed by the Finance Minister to the President and will later be stipulated in the form of a Government Regulation,” Hekal said. He explained that parties wishing to propose an area as a PFII location must submit a proposal to the Finance Minister. The proposal will then be assessed based on several requirements, including regional feasibility, results of a feasibility study, capital adequacy, and human resource readiness. If all requirements are deemed to have been met, the Finance Minister will propose the location to the President to be established through a Government Regulation.