Durian. President Prabowo Subianto on Monday, 24 Feb. 2025 launched Indonesia’s largest sovereign wealth fund named Daya Anagata Nusantara (Danantara) Indonesia, having over US$900 billion and in the first place will use about US$20 billion to invest in at least 20 high-impact national projects.
President Prabowo in his speech during the inauguration ceremony said that his administration has successfully secured about US$20 billion from very careful financial discipline and responsible governance in the first 100 days.
“…but (the fund) will now be channeled into 20 high-impact national projects, creating long term benefit for our people,” President Prabowo said.
President Prabowo explained that the distribution of the fund focusing in sectors including downstream nickel, bauxite and copper industries, the development of Artificial Intelligence data center, oil refinery, petrochemical, food and protein production, aquaculture as well as renewable energy.
“I know and I realized, there are many questions about Danantara Indonesia. This can be expected because this is a new initiative, unprecedented in our history. Today, all Indonesians can be proud to learn that we totaled assets of more than 900 billion US dollar under management of Danantara Indonesia, would be one of the world’s largest wealth funds,” President Prabowo said.
Further, the inauguration of sovereign wealth fund Danantara Indonesia is a strategic solution to optimizing Indonesia’s state-owned enterprises (SOEs) and transforming them into global firms as President Prabowo expects to see many of SOEs in the list of Global Fortune500.
“Indonesia sends a clear message to our friends and our partners worldwide; Indonesia is opened for collaborations, opened for business, opened for investments and opened for shared prosperity. Danantara Indonesia will allow us to expand our international cooperation. And I can only hope that our global partners will recognize Indonesia’s potential, not just as an emerging economy but as a force for regional stability and shared progress,” the state leader said.
Prior to the inauguration of Danantara Indonesia, President Prabowo has signed related regulations to support the sovereign wealth fund, which were the revision of Law on SEOs, Government Regulation on the management structure of sovereign wealth fund Daya Anagata Nusantara and Presidential Decree on the installment of the Monitoring Board and Executive Board of Danantara Indonesia.
According to Coordinating Minister for Economic Affairs Airlangga Hartarto, Rosan Roeslani, former Indonesian Ambassador to the US and currently serving as investment and downstream minister as well as head of the Investment Board, is appointed as the CEO of Danantara Indonesia.
Meanwhile, SEOs Minister Erick Thohir is appointed as the head of Danantara Indonesia’s Monitoring Board. (***)
