Jakarta, Indonesia Sentinel — Indonesia’s President Prabowo Subianto has reaffirmed the government’s commitment to continue the downstreaming program initiated by his predecessor, Joko Widodo. The plan is to launch 15 Indonesia megaproject in 2025, with investments totaling billions of U.S. dollars.
“The program started by Mr. Jokowi, particularly downstreaming, will continue. This year, we will kick off at least 15 major projects with investments amounting to billions of dollars,” Prabowo announced during the 17th-anniversary celebration of the Gerindra Party at the Sentul International Convention Center (SICC) in Bogor on Saturday, February 15, 2025.
The downstreaming initiative focuses on processing raw materials domestically rather than exporting them in raw form. The move is expected to boost local industries, create jobs, and generate higher value-added products.
Prabowo emphasized that these projects would proceed without relying on foreign investments. However, the government remains open to international investors interested in participating.
“We will start without begging for foreign investment. We aim to realize Bung Karno’s dream of standing on our own feet. We won’t plead,” Prabowo stated. “But if foreign investors want to join, they are welcome. Indonesia remains open to investment, but we will not depend on external parties. We will rise with our own strength,” he added.
As part of this initiative, the Indonesian government will launch a new state-owned investment management body, Daya Anagata Nusantara (Danantara), on February 24, 2025.
“Nine days from now, on February 24, we will launch Indonesia’s investment fund, which I’ve named Danantara,” Prabowo announced.
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He urged former presidents and religious organizations to help oversee Danantara’s operations, ensuring that the fund serves the nation’s interests.
“I call upon former presidents, Joko Widodo, Susilo Bambang Yudhoyono, and Megawati Soekarnoputri, along with religious leaders from NU, Muhammadiyah, KWI, and others, to participate in monitoring this fund,” Prabowo said. “This is the people’s money, the inheritance of our children and grandchildren,” he added.
The downstreaming program aligns with Indonesia’s broader economic strategy to transition from a commodity-based economy to one driven by industrial and technological innovation.
Potential Impact and Future Outlook of Indonesia megaproject
Economists view this initiative as a critical step for Indonesia to strengthen its position in the global supply chain, particularly in sectors like nickel, copper, and palm oil. These materials are essential for renewable energy technologies, electric vehicles, and consumer goods.
Prabowo’s announcement reflects Indonesia’s determination to build economic resilience and reduce dependency on external markets. The success of these megaprojects could mark a significant milestone in the nation’s development trajectory.
(Becky)
