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February 23, 2025 | 07:08 pm
TEMPO.CO, Jakarta - Indonesian President Prabowo Subianto will inaugurate the Sovereign Wealth Fund of the Archipelago Investment Management Agency, or Danantara, on Monday, February 24, 2025. The inauguration will take place at 10:00 AM local time in the Central Courtyard of the Presidential Palace in Jakarta.
The Deputy of Protocol, Press, and Media at the Presidential Secretariat, Yusuf Permana, stated that the launch of Danantara marks a new era in the transformation of the country's strategic investment management.
"This is also part of the government's commitment to realizing Asta Cita, the grand vision to elevate Indonesia's economy to a higher level through sustainable and inclusive investments," said Yusuf.
Yusuf mentioned that the palace has invited journalists from the Presidential Palace to cover the launch of Danantara.
Prior to this, the launch of Danantara was announced by Prabowo in his speech at the World Governments Summit 2025. The Indonesian government, according to Prabowo, is ready to launch the latest sovereign wealth fund, Danantara, which based on the initial evaluation will manage a US$900 billion asset under management (AUM).
"Danantara, which will be launched on the 24th of February this month, will invest our natural resources and state assets into high-impact sustainable projects in various sectors such as renewable energy, advanced manufacturing, downstream industries, food production, and others," said Prabowo as quoted from the Presidential Secretariat's YouTube broadcast on Friday, February 14, 2025.
Danantara already has a legal umbrella. The House of Representatives (DPR) regulates this agency in the new State-Owned Enterprises (SOEs) Law which was enacted on February 4, 2025.
Member of Commission VI of the DPR, Darmadi Durianto, mentioned that this agency will act as the manager of all state-owned red plate companies. In addition, Danantara has the authority to manage dividends from state-owned enterprises. "Previously, dividends went directly to the Ministry of Finance, now they will go directly to Danantara," he told Tempo.
In the future, Danantara must establish a State-Owned Enterprises holding. Darmadi said this task will be carried out in collaboration with the Ministry of SOEs. Darmadi also stated that the management results of this holding are the responsibility of the company. This means that the profit or loss incurred is not included in the state's profit or loss.
Ni Kadek Trisna Cintya Dewi, Ervana Trikarinaputri, Khairul Anam, and Sultan Abdurrahman contributed to the writing of this article.
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