Accelerate The Implementation Of Family Office, Luhut Hopes To Start February

Chairman of the National Economic Council (DEN) Luhut Binsar Pandjaitan (Photo: Antara)

JAKARTA - The government plans to continue the plan to establish Wealth Management Consulting (WMC) or family office in Indonesia.

Chairman of the National Economic Council (DEN) Luhut Binsar Pandjaitan said he would meet with President Prabowo Subianto for a more detailed discussion regarding the Family Office so that it could be executed immediately and could start running in February.

"Continue, you have to continue, the President agrees with that (family office), we just have to handle it again. We want to hurry. If I meet the president, if I may propose, next month we can make it, we have been studying for a long time," he said at the global economic navigate event, the strategy for 2025, Wednesday, January 15.

Luhut added that he did not want Indonesia to lose to neighboring countries and there needed to be changes in the way of thinking and calculating the implementation of the Family Office.

"We don't want to lose to our neighboring countries. The flow thinks we have to be behind, don't depend on my profit, you have to think about it, investors," he said.

According to Luhut, Indonesia could lose to Malaysia in the formation of the Family Office because one of them is from the attraction in the matter of incentives.

"We must (also provide more competitive incentives). Otherwise, we will lose," he said.

In addition, Luhut said that Indonesia must be aware of the development of Johor, which has now made its territory a special economic zone.

Luhut said that he had established communication with the Ministry of Finance (Kemenkeu) to run the Family Office and provide attractive incentives.

"Sometimes we think about it, I tell Febrio here, Feb, you ask for profit, so people give you a profit too. So life can't just profit. So family office, we are slow," he said.

Luhut added that he had also received input from Ray Dalio to make Bali like Singapore.

"And Ray Dalio told me last night, eh he said, Mr. Luhut, Bali, why not Bali? Bali is the size of Singapore. Make it Bali like Singapore. So regulations, regulatory inconsistencies. There are still many of us, sorry our leaders, who are inconsistent. Today said this, tomorrow said that. That's not allowed," he explained,

Therefore, Luhut conveyed that he had made a report to President Prabowo, stressing that this needed serious attention.