President Jokowi Inaugurates Board of Supervisors of Investment Management Institute

President Jokowi inaugurates members of Board of Supervisors of the Investment Management Board (LPI), on Wednesday (27/01), at the State Palace, Jakarta. (Photo by: PR/Jay)

President Joko “Jokowi” Widodo inaugurated members of Board of Supervisors of the Investment Management Institute (LPI), on Wednesday (27/01), at the State Palace, Jakarta.

The five members are Minister of Finance, as chairperson-cum-member; Minister of State-Owned Enterprises, as member; as well as three members from the professional element, namely Haryanto Sahari, Yozua Makes, and Darwin Cyril Noerhadi.

“We just inaugurated Board of Supervisors of the LPI, to be called the Indonesia Investment Authority. We hope that this institution will become alternative financing for our country’s development,” the President said after the inauguration.

The three members from professional and independent elements had previously gone through a number of selection processes and obtained approval from the House of Representatives (DPR).

The President expressed belief that through their good track record and reputation as well as qualified experience, the members will gain trust both at home and abroad.

“We hope that the Indonesia Investment Authority will gain trust, both at home and abroad so the alternative financing for our development can actually be achieved, with a substantial amount,” he said.

As mandated in Government Regulation Number 74 of 2020 on the LPI, the Board of Supervisors will elect a board of directors totaling five people, all of whom come from the professionals.

“The second task after the inauguration is to immediately assign Board of Directors. And I ask that at the latest next week, it has also been formed and after that, we can immediately work. It’s time to step on the gas to do what we have planned,” the President stated.

This Board is a domestic investment endowment fund management institution established by law to increase and optimize the value of state assets in the long term to support sustainable development. The Board reports to the President. The formation of the Board is a follow-up to the mandate of the Job Creation Law passed last year. (FID/TGH/UN) (FI/MMB)