What legal frameworks are being established for PFII?

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Legal Frameworks Established for PFII

Indonesia's parliament has unanimously passed a bill to establish the institutional framework for the proposed international financial centre, known as PFII. This legislation includes provisions for tax incentives, an arbitration body, and a special court to oversee cases within the centre. The aim is to attract foreign investment and accelerate national economic growth.
Institutional Framework and Tax Incentives

The newly passed bill establishes the foundational institutional framework for PFII. It also incorporates specific tax incentives designed to encourage participation and investment within the financial centre. These measures are intended to create a conducive environment for international financial activities.
Establishment of an Arbitration Body

An arbitration body will be set up as part of the legal infrastructure for PFII. This body is expected to provide a mechanism for resolving disputes that may arise within the financial centre, offering an alternative to traditional court proceedings.
Creation of a Special Court

Furthermore, the legislation mandates the establishment of a special court. This court will be specifically authorised to examine and decide cases that fall under the jurisdiction of the PFII, ensuring a dedicated legal channel for matters related to the financial centre.

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What legal frameworks are being established for PFII?

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