Indonesia Sets New Investment Authority, Led by Sri Mulyani

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Durian. Indonesian President Joko Widodo officially announced the establishment of Indonesia Investment Authority (INA) and sworn-in its members on Jan.27.

The body is led by Finance Minister Sri Mulyani Indrawati with four members – State-owned Enterprises Minister Erik Thohir, auditors Hariyanto Sahari, Yozua Makes and Darwin Cyril Noerhadi – and it has duty to oversees sovereign wealth fund.

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Hariyanto Sahari is currently holding commissioner post in several companies such Bank Permata as well as an auditor for various companies including Unilever.

Yozua Makes is a lawyer who also focuses on corporate finance and corporate law. While, Darwin Cyril Noerhadi is holding various posts in finance management including commissioner such as at Mandiri Sekuritas.

“This is an institution that we hope can become an alternative fund for the development of our country,” President Widodo said.

By putting five individuals with strong experience and good reputation, President Widodo expected to gain trust from domestic and international business communities.

He hoped that within one week members of INA’s board of director should be selected.

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