{"id":787357,"date":"2026-07-27T13:32:31","date_gmt":"2026-07-27T13:32:31","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/787357\/"},"modified":"2026-07-27T13:32:31","modified_gmt":"2026-07-27T13:32:31","slug":"indonesias-plan-for-a-singapore-rival-starts-to-take-shape","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/787357\/","title":{"rendered":"Indonesia\u2019s plan for a Singapore rival starts to take shape"},"content":{"rendered":"

Indonesia<\/a> wants to build a financial centre to rival Singapore, Hong Kong or Dubai, but analysts say the real work of persuading global investors has barely begun.Parliament\u2019s passage of the enabling legislation on Tuesday laid the legal foundation for the hub, marking a milestone in President Prabowo Subianto<\/a>\u2019s push to attract more foreign capital into Southeast Asia\u2019s largest economy and lift growth towards 8 per cent by the end of his term in 2029.<\/p>\n

Yet observers caution that the centre, which is projected to attract billions of US dollars in investment, is unlikely to deliver an overnight transformation, as crucial details surrounding tax incentives, investor requirements and regulatory safeguards are still to be finalised.<\/p>\n

Indonesia\u2019s Investment Minister Rosan Roeslani said the legislation \u201caddressed a clear gap\u201d as despite the country\u2019s \u201cstrong economic fundamentals\u201d, it had never had a dedicated centre meeting the governance benchmarks that global financial institutions had come to expect.<\/p>\n

\"Indonesia\u2019sIndonesia\u2019s President Prabowo Subianto delivers a speech during the inauguration of a bullion banking service in Jakarta last year. Photo: AFP<\/p>\n

The new legal framework will include an arbitration body and a special court to settle disputes arising within the financial centre, alongside a supervisory board and a dedicated governmental body answerable directly to the president and parliament.<\/p>\n","protected":false},"excerpt":{"rendered":"Indonesia wants to build a financial centre to rival Singapore, Hong Kong or Dubai, but analysts say the…\n","protected":false},"author":2,"featured_media":787358,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[45782,92664,334956,28,133705,13362,101,53869,5425,3996,197901,225302,45025,329293,40530,3997,8348],"class_list":["post-787357","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-australian-national-university","tag-bali","tag-bank-permata","tag-business","tag-danantara","tag-dubai","tag-economy","tag-fitch-ratings","tag-hong-kong","tag-indonesia","tag-iseas-yusof-ishak-institute","tag-jakarta","tag-moodys","tag-nusa-dua-forum","tag-prabowo-subianto","tag-singapore","tag-southeast-asia"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/787357","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=787357"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/787357\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/787358"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=787357"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=787357"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=787357"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}