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Danantara pledges support for Bali international financial hub
Bali newsBali7 min read
Danantara, Indonesia's sovereign wealth fund, has committed to supporting Bali as the location for the proposed Indonesia International Financial Center IIFC. Danantara Chief Operating Officer Dony Oskaria stated that the IIFC aims to strengthen Indonesia's position in the global financial network and build international confidence in the country. The government is benchmarking the IIFC against the Dubai International Financial Center DIFC, which offers benefits like corporate tax exemptions for up to 40 years and hosts over 50,000 professionals. Oskaria, who also chairs the State-Owned Enterprises Regulatory Agency, envisions the Bali IIFC attracting global investments, deepening the domestic financial market, expanding financing access, and enhancing Indonesia's competitiveness. A recent meeting with Danantara senior officials, including Chief Investment Officer Pandu Sjahrir, focused on investment strategies and optimizing Danantara's role in developing assets and infrastructure for the IIFC. The Indonesian government and parliament agreed on June 23 to include a bill for the IIFC in the 2026 National Legislation Program, with Deputy Law Minister Eddy Hiariej emphasizing its importance for sustainable economic growth and public welfare.
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