Jakarta: Indonesian President Prabowo Subianto has officially established the country’s new sovereign wealth fund, Danantara Indonesia, aiming to enhance state investments and drive economic expansion. Modeled after Singapore’s Temasek Holdings, the fund will oversee government stakes in state-owned enterprises and is expected to play a crucial role in accelerating national development.
In a televised address, Prabowo confirmed that he had appointed Danantara’s executives and advisors but did not disclose their names.
A $900 Billion Ambition
Danantara Indonesia is projected to manage assets exceeding $900 billion over time, aligning with the government’s ambitious target of achieving 8% economic growth within the next five years. The fund will channel investments into sustainable and high-impact sectors, including:
✅ Renewable energy
✅ Advanced manufacturing
✅ Downstream industries
✅ Food production
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Restructuring State-Owned Holdings
Lawmakers have confirmed that Danantara Indonesia will take over all government-held stakes in state-owned enterprises (SOEs), currently managed by the State-Owned Enterprises (SOE) Ministry. Key companies under its control will include leading financial institutions such as:
🔹 Bank Mandiri (BMRI.JK)
🔹 Bank Rakyat Indonesia (BBRI.JK)
🔹 Bank Negara Indonesia (BBNI.JK)
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By consolidating government assets under Danantara, Indonesia aims to enhance financial efficiency, attract foreign investments, and strengthen its economic position in the global market.
