DIGIVESTASI - President Prabowo Subianto’s administration recently established a new investment body called the *Badan Pengelola Investasi Daya Anagata Nusantara* (Danantara), which has attracted international media attention. Channel News Asia (CNA) reported on the creation of this agency in an article titled "Similar to Temasek": Indonesia president Prabowo's new investment body could rival developed nations, say officials on Tuesday (October 29, 2024).

In the report, CNA quoted the Head of BP Investasi Danantara, Muliaman Darmansyah Hadad, who stated that this body represents President Prabowo’s commitment to creating more integrated national investment management in Indonesia.

Muliaman also mentioned that this new investment body is designed to compete with developed countries and has the potential to attract foreign investment. CNA added that Danantara, scheduled for launch on November 8, resembles investment bodies like Singapore's Temasek Holdings.

In preparation for the launch, Prabowo invited Muliaman—former head of the Financial Services Authority (OJK)—to a meeting at the Presidential Palace last Monday. Muliaman revealed that he was tasked with ensuring that all preparations were in order ahead of the official launch, which will be led by Prabowo on November 8.

According to Muliaman, the agency will gradually manage segregated government assets, starting with the formation of an investment entity, followed by the drafting of legislation to support its operations. He also indicated that the creation of this body would require revisions to the State-Owned Enterprises (SOE) Law.

Furthermore, the Ministry of Investment and Downstreaming/BKPM will focus on managing investments, reflecting Prabowo's commitment to strengthening more targeted national investment management. Meanwhile, the Ministry of SOEs will be responsible for government policies and oversight of profit-oriented commercial enterprises.

Danantara is projected to be similar to the Indonesia Investment Authority (INA), but with a larger capital base. INA itself is Indonesia's sovereign wealth fund, established in 2020. Muliaman also hinted at potential collaboration between Danantara and INA in the future.

 

 

 

 

 

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