We have selected seven stories from the SCMP’s coverage of Asia over the past week that resonated with our readers and shed light on topical issues. If you would like to see more of our reporting, please consider subscribing. 1. Indonesia’s plan for a rival to Singapore starts to take shape Indonesia wants to build a financial centre to rival Singapore, Hong Kong or Dubai, but analysts say the real work of persuading global investors has barely begun. 2. Japan voters ‘pretty angry’ with PM...
Tax breaks used to be enough. Not any more. Analysts say a new generation of investors is prioritising legal certainty and regulatory stability over incentives – and Asia’s most successful international financial centres will be those that successfully secure trust. All of which carries repercussions for Indonesia’s plans to build its first international finance centre, after lawmakers passed a law on Tuesday giving the project the green light. Enforceable contracts, predictable regulation and...
Bali has “aura” and political titan Luhut Pandjaitan wants to channel it to transform Indonesia’s famed resort island into an international financial centre. But President Prabowo Subianto’s special adviser and economic tsar is not relying on subtle nods to Gen Z slang to sell paradise. Instead, he conjures up a striking image to make his case. A friend recently sent him a photograph of kamikaze drones lighting up the skies over Abu Dhabi, accompanied by a plea: help us get out. Indonesia,...