Purbaya Targets PFII to Operate This Year, Location Still Under Review

Finance Minister Purbaya Yudhi Sadewa is targeting the Indonesia International Financial Centre (PFII) to become operational this year. The Government Regulation (PP) governing the operations of the international financial centre is still being drafted.

The PFII Law was passed at today’s plenary session of the House of Representatives. “The implementing regulation hasn’t been drafted yet, but we will try to do it as quickly as possible. We will aim for this year,” Purbaya said after the State Budget press conference at the Finance Ministry office in Jakarta on Tuesday, 21 July 2026.

The Finance Minister explained that the current moment is the right time for the PFII to begin operations. Amid high global uncertainty, investment interest in international financial centres is also rising. “This is a period of high uncertainty, and that is precisely when demand for financial centres increases. Once everything has calmed down, it will be much harder for us to compete,” he said.

Under the PFII Law, the Finance Minister has the authority to determine the zone that will serve as the location of the financial centre. According to Purbaya, no location has been decided yet, as he is still reviewing the proposals submitted.

Purbaya said several locations have been proposed, including the Kura Kura Special Economic Zone (KEK) and the Sanur KEK in Bali. A team will later make the selection based on criteria such as which site can be developed fastest and at the lowest cost, and which is most likely to attract foreign investors to place their funds there.

“But essentially we will see what is best. What is certain is that the infrastructure there must be easy to build or already partly in place, and the location must be attractive to wealthy foreign investors,” he said.

Previously, the Deputy Chair of Commission XI from the Gerindra Party faction and Chair of the PFII Bill Working Committee, Mohamad Hekal, stated that the government is currently studying several options for the zone that will become the financial centre. “I have heard that in Bali there are perhaps two or three areas under consideration, and it is not impossible that more will be added later,” he said.