Opportunities for Investment in Indonesia for Family Offices: Jokowi’s Role
President Joko Widodo, commonly known as Jokowi, recently presided over an internal meeting with senior Indonesian ministers and heads of institutions to delve into the potential of a family office investment program. The meeting, held at the prestigious State Palace in Jakarta, aimed to discuss economic and financial strengthening measures for the nation.
One of the key attendees at the meeting was Minister of Tourism and Creative Economy, Sandiaga Salahuddin Uno, who arrived at the Presidential Palace in Jakarta around 09:00 WIB. Uno later shared insights from the meeting, stating, “We were invited to discuss economic and financial strengthening, one of which is the family office project. We will report on it later,” as quoted by ANTARA on Monday.
The gathering also saw the presence of other influential figures such as Muhammad Yusuf Ateh, the head of the Financial and Development Supervisory Agency (BPKP), Deputy Finance Minister Suahasil Nazara, and Mahendra Siregar, the Chairman of the Board of Commissioners of the Financial Services Authority (OJK).
Sandiaga Uno, who has been an advocate for regulating family offices to tap into their economic potential, had previously drafted regulations to attract such investments based in Bali. Uno expressed intentions to establish initial targets and necessary regulations during a visit to the World Water Forum in Nusa Dua, Bali in May.
The concept of family offices, where wealthy families manage their investments while traveling, has gained traction in various countries such as Singapore, Malaysia, Monaco, London, Hong Kong, and Dubai. Sandiaga Uno highlighted Bali’s readiness to embrace this concept due to its well-developed tourism ecosystem and infrastructure. He emphasized the importance of supporting infrastructure, housing, and a robust digital economic network to facilitate the growth of family offices in Bali.
Sandiaga Uno’s vision aligns with the government’s agenda to enhance economic growth and attract foreign investments in Indonesia. The potential of family offices in Bali could not only boost the local economy but also position Indonesia as an attractive destination for high-net-worth individuals seeking investment opportunities in Southeast Asia.
As discussions on family offices progress, Indonesia is poised to introduce regulations that will provide a conducive environment for such investments to thrive. The positive outcomes of implementing family offices in Bali could have a ripple effect on the nation’s economic landscape, attracting more investors and boosting overall economic growth.
In conclusion, President Jokowi’s initiative to explore the potential of a family office investment program reflects a strategic move towards strengthening Indonesia’s economic foundation. With the support of key stakeholders and government officials, Bali could emerge as a prominent hub for family offices in the region, ushering in new opportunities for economic growth and prosperity.
