Jakarta, April 8 -- President Prabowo Subianto said Indonesia plans to establish a special financial center to strengthen its position as a safe investment destination amid rising global geopolitical tensions.

"We are planning to establish a Special Financial Center and are currently identifying a suitable location," he said during a cabinet meeting at the State Palace in Jakarta on Wednesday.

He noted the idea was first proposed several years ago by National Economic Council (DEN) Chairman Luhut Binsar Pandjaitan, with Bali initially considered as the site.

Prabowo said the proposal has become increasingly relevant as Indonesia seeks to reassure investors that its business climate remains stable despite global uncertainty.

He pointed...