The Ministry of Finance of Indonesia published remarks by Finance Minister Purbaya Yudhi Sadewa setting out the government’s case for the bill on the Indonesia International Financial Center, or PFII. The minister described the draft law as a strategic measure to strengthen economic resilience and position Indonesia as a globally competitive financial center. PFII is intended to complement, rather than replace, the existing national financial system by creating a world-class financial ecosystem that can attract global investors and widen long-term funding sources for national development. The framework is built around three pillars: broader access to capital and investment, stronger financial innovation and governance, and greater competitiveness and national human resource capacity. The draft bill covers PFII’s establishment, status and objectives, permitted business activities, institutional arrangements, a PFII arbitration body, a PFII court, support from central and local governments, tax incentives, other special facilities and specific provisions applying within PFII. As the release was issued in the context of a plenary meeting on decision-making for the bill, the minister called on the House of Representatives to approve the PFII draft law.

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