Indonesia is setting up a financial special economic zone to attract capital from global investors as geopolitical tensions prompt investors to look for safer investment avenues, The Jakarta Globe reported Wednesday.
The government is currently looking into key instruments global investors require to invest with greater confidence, the report said.
The initiative aims to position Indonesia as a credible international financial hub, the country's Chief of Economic Affairs Minister Airlangga Hartarto reportedly said during an investor daily roundtable.
The zone will allow the country to stand at par with financial centers in Hong Kong, Singapore, and Abu Dhabi, the online daily reported.
The strategy will also encompass the development of data centers, the report said.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)