The National Economic Council (DEN) of Indonesia aims to launch a family office programme in February to further boost Indonesia’s appeal to wealthy investors, officials said. Luhut Panjaitan, who leads the presidential advisory board, said President Prabowo Subianto had approved the plan but had yet to set a start date. Family offices provide wealth management and investment services for high-net-worth individuals, typically overseeing investable assets. “We want it quickly because we have studied it for a long time and don’t want to lose out to our neighbours,” Panjaitan said, noting that Indonesia would offer more competitive incentives than Malaysia, which plans to open its own family office programme in Johor in early 2025. Panjaitan warned Indonesia could be left behind if it does not act soon.