Indonesia’s parliament passed a law to establish an International Financial Center, legislation aimed at attracting foreign capital and accelerating the country’s economic growth.
The new law creates a regulatory framework intended to position Indonesia as a more competitive hub for international finance in Southeast Asia. Details on the center’s location and the specific incentives being offered to foreign investors were not immediately available.
The move reflects a broader push by the Indonesian government to strengthen the country’s financial sector and draw greater foreign investment as it pursues its economic growth targets.
Southeast Asian nations have competed in recent years to attract international financial services business, and Indonesia’s new legislation positions the country to compete more directly with established regional hubs.
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Sources:
https://en.nhandan.vn/world-news-in-brief-july-21-post164606.html