Jakarta, Indonesia Sentinel — President Prabowo Subianto has officially launched the Investment Management Agency (BPI) Daya Anagata Nusantara (Danantara) on Monday (February 24, 2025) in the central courtyard of the Presidential Palace Complex in Jakarta. Several state-owned enterprises (BUMN) are set to become part of Danantara.
Danantara was established following the third revision of Law No. 19 of 2003 on State-Owned Enterprises, which was approved in a plenary session of the House of Representatives (DPR) on February 4, 2025.
Prabowo stated that Danantara would manage funds amounting to trillions of rupiah from Indonesia’s major state-owned enterprises (BUMN).
“We are preparing to launch Danantara Indonesia, our new sovereign investment fund, which, based on our initial assessment, will oversee assets exceeding $900 billion,” he said during the “World Government Summits,” as quoted from the Presidential Secretariat’s YouTube channel on Thursday (February 13, 2025).
BUMN Joining Danantara
At least seven major Indonesian BUMN will have their assets managed by Danantara. In addition to BUMN, the Indonesia Investment Authority (INA), the sovereign wealth fund (SWF) established under the administration of Indonesia’s seventh president, Joko Widodo, will also merge.
With this, Danantara will manage BUMN assets totaling approximately $900 billion, or around Rp14,670 trillion. According to Teropong Media, the following are the seven state-owned enterprises BUMN under Danantara’s management:
- PT Bank Mandiri (Persero) Tbk
- PT Bank Rakyat Indonesia (Persero) Tbk (BRI)
- PT PLN (Persero)
- PT Pertamina (Persero)
- PT Bank Negara Indonesia (Persero) Tbk (BNI)
- PT Telkom Indonesia (Persero) Tbk
- Mining Industry Indonesia (MIND ID)
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Investment Priorities
Investment In its initial phase, Danantara is set to deploy an investment of $20 billion, approximately Rp 326 trillion, sourced from budgetary efficiencies within the state budget (APBN). Its management model will be based on Singapore’s Temasek Holdings Limited but with a broader scope.
The investment focus includes nickel, bauxite, and copper downstreaming projects, artificial intelligence data centers, oil refineries, petrochemical plants, as well as food production and renewable energy. “These sectors will determine our future, our resilience, and our national independence,” Prabowo said.
(Raidi/Agung)
