Danantara optimizes management of state assets: Prabowo

Jakarta (ANTARA) - Indonesian President Prabowo Subianto affirmed that the Danantara Indonesia Investment Management Agency must become a national development instrument to optimize the management of Indonesia's wealth for the people's welfare.

"Danantara is not merely an investment management agency but must become a national development instrument to optimize our efforts in managing Indonesia's wealth," he remarked at the launch of the Danantara Indonesia Investment Management Agency at the Presidential Palace on Monday.

The president stated that the government has demonstrated its commitment to managing state assets with strict financial discipline and responsible governance.

According to Prabowo, the government secured almost US$20 billion in the first 100 days of his administration.

These funds were earlier hampered by inefficiency, corruption, and inappropriate spending. He remarked that they will now be allocated to be managed by Danantara Indonesia and invested in 20 or more national projects as part of industrialization and downstreaming.

Prabowo is upbeat that these projects can bring significant added value for the nation, provide real benefits, offer quality jobs, and usher in long-term prosperity for the Indonesian people.

"We no longer want to sell our natural resources at affordable prices. We do not want to be a source of raw materials for other countries. We are aiming to become a developed country," he emphasized.

Prabowo, along with Indonesia's seventh President, Joko Widodo, and sixth President, Susilo Bambang Yudhoyono, jointly pressed the button while officially launching the Daya Anagata Nusantara Investment Management Agency (BPI Danantara) at the Presidential Palace on Monday.

Before pressing the button, Prabowo delivered a speech and officially launched BPI Danantara.

"On Monday, February 24, 2025, I, the President of the Republic of Indonesia, launch the Daya Anagata Nusantara Danantara Indonesia Investment Management Agency," he stated.

As Indonesia's sovereign wealth fund, Danantara will manage assets worth more than US$900 billion, with initial funding projections reaching US$20 billion.