Dubai and Indonesia to Transform Nusantara into Global Financial Center

Additionally, the development of mechanisms to allow entities from DIFC and the IKN Authority to establish registered business operations in each other’s jurisdictions, facilitating seamless business integration and participation in global exchanges, as well as collaboration on trends, legislation, and regulations in international financial services to stay aligned with global developments.

Commenting on the partnership, DIFC Governor Essa Kazim noted that the UAE and Indonesia are collaborating and innovating to drive economic growth and social impact in both countries. As a leading global financial hub in the MEASA region, DIFC is well-positioned to facilitate significant opportunities through this strategic partnership.

Minister of State-Owned Enterprises Erick Thohir and DIFC Authority CEO Arif Amiri emphasized the importance and strategic value of this partnership, highlighting its potential to stimulate economic growth and drive innovation through international collaboration.

The Nusantara Financial Center is planned to be strategically located in the Second Development Area within the expansive Nusantara region, covering 252,000 hectares, offering significant investment opportunities. This financial district will occupy approximately 260 hectares within a broader business and financial center spanning 3,000 hectares.

The foundation for the Nusantara ecosystem has been strengthened by substantial domestic investments, with hotels and hospitals set to commence operations this year. The reception of over 424 Letters of Intent reflects high interest from investors, including foreign investors, affirming the global appeal and potential of the Nusantara Financial Center.

The agreement with DIFC marks the beginning of a transformational journey towards creating an investor-friendly environment in the Nusantara Financial Center, poised to attract global investors and ensure sustainable growth and development. (Uki Ruknuddin)