Formation of Special Team to Establish Family Office in Indonesia by Jokowi

President Joko Widodo, also known as Jokowi, is set to establish a special team to oversee the government’s ambitious plan of creating a family office for attracting investments in Indonesia. The Ministry of Tourism and Creative Economy, led by Sandiaga Uno, has confirmed that the government is in the process of studying a system that will focus on managing the wealth of exceptionally affluent families or individuals.

The proposal for a family office project was discussed during a meeting with President Joko Widodo at the Merdeka Palace. Sandiaga Uno mentioned that the government is keen on emulating successful family fund management models from prominent financial centers like Singapore, Dubai, and Hong Kong. He emphasized the potential for Indonesia to become a favorable destination for family offices, given its growing economy and diverse investment opportunities.

While the implementation of the family office project is expected to face regulatory adjustments, Sandiaga Uno expressed confidence that the process would not encounter significant challenges. He highlighted Indonesia’s appeal beyond financial access, citing green investments and philanthropic activities as additional strengths that could attract international investors.

The government is exploring various locations for establishing family offices, with particular attention given to Bali as a potential hub. Sandiaga Uno revealed that Bali has received considerable interest from the family office community, although Jakarta, as the Indonesian capital, is also being considered for the project. Regulatory frameworks in these regions are being evaluated to ensure a conducive environment for family office operations.

As the government progresses with its plan, it aims to position Indonesia as a competitive destination for family offices, offering a combination of financial opportunities and sustainable investments. The establishment of a dedicated team to oversee the project signifies a strategic approach towards creating a favorable ecosystem for wealth management and investment activities within the country.

In conclusion, the government’s initiative to establish a family office in Indonesia reflects its commitment to attracting high-net-worth individuals and families to invest in the nation’s growing economy. By leveraging regulatory adjustments and exploring potential hubs like Bali and Jakarta, Indonesia aims to position itself as a leading destination for family fund management. Through proactive efforts and strategic planning, Indonesia seeks to enhance its appeal as a lucrative investment destination for both local and international investors.

References:
1. https://Google.com
2. https://ekonomi.bisnis.com/read/20240701/9/1778352/jokowi-bakal-bentuk-tim-khusus-untuk-realisasikan-family-office-di-indonesia

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