Jokowi Forms Special Team for Family Office, What is it?

Jokowi Bentuk Tim Khusus Family Office, Apa Itu?

Jokowi Forms Special Family Office Team, What Is It?

Dream - President Joko Widodo (Jokowi) has started discussing family office with the Ministers at the Presidential Palace in Jakarta, Monday, July 1, 2024. This program is likely to be implemented in Indonesia.

Jokowi Forms Special Team for Family Office, What is it?

Minister of Tourism and Creative Economy (Manparekraf) Sandiaga Uno said Jokowi will form a special team to study family offices in Indonesia. He said family offices have been implemented in several countries such as Singapore, Dubai, and Hong Kong.

What is a family office?

Sandiaga said, family office is a financial cluster that provides convenience services for large families to invest their funds in Indonesia.

Sandiaga hopes that Indonesia can attract wealthy individuals from abroad to manage their funds domestically. "Earlier, in reviewing the regulations, IKN already had that, but it turns out that Bali is the one receiving many requests from the global family office community. We will determine how to respond to this through a study in the next month," he said as quoted from Liputan6.com, Monday, July 1, 2024.

Sandiaga said that Indonesia has attractiveness not only in financial access, but also in other assets. However, he said that Indonesia needs to make regulatory adjustments first to implement family office.

"So far, many Indonesian family offices have placed their investment management outside of Indonesia. So, if we mention low hanging fruits quick wins, these are the companies owned by Indonesian families to manage their investments not outside of Indonesia, but in Indonesia."

tutur Sandiaga.

"He mentioned that family office fund management reached US$11.7 trillion. Indonesia itself aims to attract 5 percent of family office fund management."

"So if Indonesia can attract just 5 percent, this is already talking about a figure of 500 billion US Dollars. This is quite significant in the next 5 years,"
say Sandiaga.

"Dream.co.id."

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Jokowi Forms Special Family Office Team, What Is It?

What is a family office?

"So far, many Indonesian family offices have placed their investment management outside of Indonesia. So, if we mention low hanging fruits quick wins, these are the companies owned by Indonesian families to manage their investments not outside of Indonesia, but in Indonesia."

"So if Indonesia can attract just 5 percent, this is already talking about a figure of 500 billion US Dollars. This is quite significant in the next 5 years,"say Sandiaga.

"So if Indonesia can attract just 5 percent, this is already talking about a figure of 500 billion US Dollars. This is quite significant in the next 5 years,"
say Sandiaga.