DIGIVESTASI - President Prabowo Subianto is scheduled to inaugurate a new investment management body, Daya Anagata Nusantara (Danantara), on Thursday, November 7, 2024. The inauguration ceremony will take place at the Danantara office, located in the Indonesian Development Bank (Bapindo) Building, Soeroso Street, Menteng, Central Jakarta.

“Present. The launch is on the 7th. At the Danantara office,” said the Deputy Head of Danantara Investment Board, Kaharudin Djenod Daeng Manyambeang, at the Presidential Palace in Jakarta, on Tuesday, November 5, 2024.

He explained that regulations related to the Danantara Investment Board are still being prepared, including revisions to the State-Owned Enterprises (SOE) Law. “Everything is being prepared, including several regulations and government provisions that will be revised,” he added.

Previously, it was reported that Danantara would function similarly to Temasek, the global investment company owned by Singapore. The Head of Danantara Investment Board, Muliaman Darmansyah Hadad, explained that this body would manage investments sourced from outside the State Budget (APBN). “As the name suggests, this body will manage investments outside of the state budget. Its purpose is indeed similar to Temasek,” said Muliaman on Tuesday, October 22, 2024.

Muliaman further clarified that the focus of this body differs from that of the Ministry of SOEs and will be larger than Indonesia's Sovereign Wealth Fund, the Indonesia Investment Authority (INA). However, Danantara's authority must be established through legislation.

“The first step is to establish this institution, then create the law. After that, we will discuss further with the relevant ministries,” Muliaman stated.

He also mentioned that the government’s dispersed assets would be managed by the Danantara Investment Board. “These assets will be leveraged and managed. National investment policies will be further discussed with the relevant ministries,” he explained.

Currently, Muliaman’s priority is to establish this institution as quickly as possible, although he cannot guarantee its completion before the end of the year. However, the body’s operations have already been budgeted for in the 2025 State Budget. “It might not be finished by the end of this year, as we need to coordinate with the relevant ministries. This is the foundation of a Sovereign Wealth Fund that will be expanded,” he added.

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