The Indonesian government has designated Jakarta as the interim location for the Indonesia International Financial Center (PFII), with another international financial center to be built in Bali in the future. The Minister of Investment and Downstream Industry, who also serves as head of the Investment Coordinating Board (BKPM), explained the reasons for choosing Jakarta as the starting point. He stated that President Prabowo wants this institution to become operational immediately and seize development opportunities, so the headquarters is first placed in Jakarta, where infrastructure and the financial ecosystem are already mature. "The initial site is indeed in Jakarta first. Why? Because the President wants everything to run immediately and seize the moment." He said during an interview at the Jakarta office of the Directorate General of Taxation.
As for Bali, he noted that the region needs time for preparation, including the development of physical infrastructure. Bali was chosen because of its strong appeal in the eyes of global investors. Investors generally believe that compared to other international financial centers, Bali offers unique added value. Once the financial center is established, it will not only focus on investment activities, but also leverage the investors' strong spending power to drive local tourism development. "In Bali, they say there is an extra advantage here. While investors work, they can also boost Bali's tourism because they generally have strong spending power."
Previously, the State Secretariat Minister stated that the government has selected a site for the international financial center in Jakarta, but the specific location will not be disclosed for now and will be officially announced by the relevant supervisory authority. He noted that this will be a special zone governed by specific regulations. The news that Jakarta would host the PFII was previously announced by President Prabowo during the state address to parliament, with Bali selected as the second site. Overall, Indonesia is adopting a "Jakarta first, Bali follows" dual-center approach, ensuring the international financial center quickly becomes operational while leveraging Bali's global brand appeal to explore a new model of synergistic financial and tourism development.
