Danantara: Optimizing State-Owned Assets Without Risking Economic Sovereignty

The Indonesian government has established Danantara as a strategic initiative to optimize state-owned enterprise (SOE) assets and enhance their global competitiveness. However, concerns have emerged that this scheme could open the door for foreign control over strategic national assets, potentially undermining Indonesia's economic sovereignty.

The government asserts that Danantara is neither privatization nor a covert attempt to sell state assets to foreign entities. Instead, it is designed to strengthen SOEs, making them more efficient, innovative, and profitable for the country.

Why Is Danantara Necessary?

Imagine SOEs as a large house with many rooms. The house belongs to the state, but its management is not optimized. Some rooms remain empty, some are cluttered, and others could be rented out for profit but are instead left neglected.

Currently, maintaining this house relies entirely on state funding through the national budget (APBN). However, maintenance costs keep rising, while revenue generation remains insufficient. Meanwhile, other countries have successfully managed their state assets more productively without relinquishing ownership.

Danantara ensures that existing assets become more productive. It consolidates underutilized assets, encourages strategic partnerships, and professionalizes management—while ensuring the state retains full ownership and control.

Golden Share: Safeguarding National Control

Under Danantara, the government holds a golden share, which acts as the ultimate control mechanism over strategic assets. It grants veto power over critical decisions, preventing unauthorized asset sales, ownership changes, or mergers that could threaten national interests.

Unlike the Indosat case in 2003, where the government lost control due to the absence of such safeguards, Danantara ensures that this mistake is not repeated.

Conclusion: A Solution, Not a Threat

Danantara is not about selling SOEs to foreign investors—it is about making state assets more productive while keeping full government control. It also reduces reliance on foreign funding, ensuring strategic projects remain under national authority.

If managed properly, Danantara could strengthen Indonesia’s economy, make SOEs more competitive, and provide long-term benefits to the country and its people.

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