Luhut Will Submit To President Prabowo To Run Family Office In February 2025

Chairman of the National Economic Council (DEN) Luhut Binsar Pandjaitan when met in the 'Early Spirit of 2025' activity, in Jakarta, Wednesday (15/1/2025). ANTARA/Imatul Silfia

JAKARTA - Chairman of the National Economic Council (DEN) Luhut Binsar Pandjaitan admitted that he would submit to President Prabowo Subianto to start running family office in February 2025.

"If I meet the President, I will try to make it next month," said Luhut when met in the activity The spirit of early 2025, in Jakarta, Antara, Wednesday, January 15.

Luhut added that a study on the implementation of family office in Indonesia had been carried out for a long time. He is optimistic that President Prabowo will agree to the plan.

"We have been studying for a long time and we don't want to lose to our neighboring countries. Don't let us be preceded," he said.

The chairman of the DEN also said that he would formulate more competitive incentives than other countries, including Malaysia. They give very competitive incentives. We also have to. Otherwise, we lose," he said again.

Luhut made the idea of a family office while serving as Coordinating Minister for Maritime Affairs and Investment (Menko Marves) in the Advanced Indonesia Cabinet under the Government of the 7th President of the Republic of Indonesia Joko Widodo (Jokowi).

He conveyed the discourse to the 10th World Water Forum (WWF) delegates in Nusa Dua, Badung Regency, Bali, mid-May 2024.

"We encourage Bali to become a hub (central) for family office such as in Hong Kong and Singapore," said Luhut, on the sidelines of the World Water Forum, in Denpasar, Saturday (18/5/2024).

In July 2024, Luhut revealed that there are already several foreign conglomerates who are interested in registering for a family office program or rich families who invest funds in Bali.

According to him at that time, the team for the office program of rich people from abroad had started working and the plan was to make visits to countries or special administrative areas that implemented similar concepts, such as the United Arab Emirates, Hong Kong, and Singapore.

The goal is to find out the management of the rich and make it one of the benchmarks for the investment concept.

As for the implementation of family office, he hopes that it can also apply in other cities, such as Jakarta and the capital city of the archipelago (IKN).