Jakarta (ANTARA) – The Indonesian Researchers Association (PPI) has urged the government to offer competitive fiscal incentives to attract foreign investment to the Indonesia International Financial Center (PFII), saying stronger measures are needed to compete with regional financial hubs.PPI Chairman Syahrir Ika said in a statement on Friday that competitive incentives are essential if Indonesia wants the planned financial center to draw global capital and international financial institutions.He said investors routinely compare Indonesia's incentives and ease of doing business with those offered by regional and global competitors, including Singapore, Malaysia, Vietnam and the United Arab Emirates.”If other countries offer better facilities, investors will naturally choose them. The issue is not only the size of Indonesia's incentives, but whether they keep the country competitive,” Ika said.He added that fiscal incentives alone would not be enough. Indonesia must also provide a predictable investment climate that offers legal certainty and strengthens investor confidence.Ika, who is also a researcher at the National Research and Innovation Agency's (BRIN) Center for Economic Research, said the government should carefully balance incentives with fiscal sustainability.He warned that policies aimed at improving competitiveness should not weaken public finances, as that could raise concerns about Indonesia's economic stability and increase investment risks.Ika also called for a level playing field, cautioning that incentives granted exclusively within the PFII should not create unfair competition for companies operating elsewhere in Indonesia.He said the incentive framework should strengthen Indonesia's position as an international financial center without distorting the wider domestic business environment through unequal treatment.Despite those concerns, Ika welcomed the creation of the PFII, describing it as a strategic initiative to capitalize on shifting global investment flows and expand Indonesia's role in international finance.”The president understands the changes taking place in the global economy and financial system and is seeking to seize the opportunities arising from them,” Ika said, referring to President Prabowo Subianto.Indonesia's House of Representatives passed the Indonesia International Financial Center Bill into law during a plenary session in Jakarta on Tuesday, providing the legal basis for establishing the PFII.The new law is expected to support the development of the financial center and help Indonesia attract more global investment by strengthening its regulatory framework and international competitiveness.