Inp.polri.go.id - Jakarta. Chairman of the National Economic Council (DEN), Luhut Binsar Pandjaitan, plans to propose the launch of a ‘family office’ initiative to President Prabowo Subianto by February 2025.

“If I meet the President, I will push for this to materialize next month,” he said on Wednesday (115/1/2025).

Chairman Luhut noted that extensive studies on implementing family offices in Indonesia have been conducted and expressed confidence that President Prabowo would approve the initiative.

“We have studied this for a long time and should not fall behind neighboring countries,” he said, as quoted by antaranews.com, emphasizing the importance of creating competitive incentives, citing Malaysia as an example.

The concept of family offices, which manage investments for wealthy families, was first introduced by Chairman Luhut during his tenure as Coordinating Minister for Maritime Affairs and Investment under President Joko Widodo.

In May 2024, at the 10th World Water Forum in Bali, he proposed Bali as a hub for family offices, similar to Hong Kong and Singapore. By July 2024, several foreign conglomerates expressed interest in participating in the program.

The initiative, expected to start in Bali, could later expand to cities like Jakarta and the new capital, Nusantara.

(mg/inp/pr/nm)