JAKARTA: Indonesia’s President Prabowo Subianto announced that the country is ready to launch its new investment management agency, Danantara, this month.
“Danantara, which will be launched on February 24, will invest our nation’s natural resources and assets into sustainable and high-impact projects across various sectors, including renewable energy, advanced manufacturing, downstream industries, food production, and others,” the president said during a keynote speech at the World Government Summit held online in Dubai on Thursday.
The launch of Danantara, an abbreviation of Daya Anagata Nusantara, was initially scheduled for November last year but was postponed. Danantara is a strategic agency tasked with operationalising state-owned enterprises and optimising dividend management to support the government’s economic goals.
An initial evaluation of Indonesia’s newest sovereign wealth fund reveals that Danantara’s Assets Under Management exceed US$900 billion, while, its initial funding is projected to reach US$20 billion.
“I believe this will be a transformative step. We plan to initiate around 15 to 20 projects worth billions of dollars, which will create significant added value for the country,” said Prabowo.
He added that these projects are expected to help Indonesia achieve its economic growth target of 8 per cent. – BERNAMA
