Jakarta, July 8 -- The government has estimated that the establishment of the Indonesia International Financial Center (PFII) could attract between Rp300 trillion and Rp500 trillion, or around US$16.6 billion to US$27.7 billion, in investment.

However, Director General of Financial Sector Stability and Development (SPSK) at the Ministry of Finance Herman Saheruddin said the figure is still based on the government's preliminary calculations and could change depending on PFII's competitiveness.

"Based on our moderate calculation, the investment could reach around Rp300 trillion to Rp500 trillion. But again, it all depends on the assumptions because we are competing with Singapore, Dubai, and others," he said when met at the Parliament Com...