President Prabowo Leads Strategic Discussion on Gov’t, Business Sector Collaboration to Strengthen National Economy

CEO of Danantara and Minister of Investment and Downstream/Head of the Investment Coordinating Board Rosan Roeslani gives a press statement at the Presidential Palace, Jakarta, Friday (03/07). (Photo by: Bureau of Press, Media, and Information (BPMI) of the Presidential Secretariat)

President Prabowo Subianto held a meeting at Merdeka Palace, Jakarta, Friday (03/07), to discuss directions and strategies of national investment management through Daya Anagata Nusantara Investment Management Board (Danantara). The meeting was attended by Ray Dalio, a prominent global investor, and Indonesian ministers and prominent businesspersons.

According to Minister of Investment and Downstream who is also CEO of Danantara, Rosan Roeslani, the discussion was very productive and brought new insights in the management of Indonesian sovereign wealth fund (SWF). Ray Dalio, who has contributed to the SWF development in various countries, such as Temasek in Singapore, Public Investment Fund in Saudi Arabia, and SWF in United Arab Emirates, gave significant inputs on Danantara development.

“Inputs and suggestions from Ray Dalio to us are very good and significant. So, in the future, Danantara can play its role in accordance with the given mandate,” Rosan Roeslani said in his press statement after the meeting.

Rosan mentioned that Ray Dalio shared his experience in managing investment in various global sovereign wealth funds. The meeting also discussed other sovereign wealth funds in other countries, such as China and UAE, to make comparisons and to decide which strategies would be suitable for Indonesia.

“So, we discussed the cooperation format, the incentive, the divisions. It was an insightful discussion, and we are open to discussion because we are doing benchmarking or making comparisons with other countries’ sovereign wealth funds. We can adopt what is suitable for Indonesia,” Rosan explained.

Meanwhile, Chairperson of Indonesian Chamber of Commerce (KADIN), Anindya Bakrie, who also attended the meeting, deemed that it was an important measure in building synergy between the Government and the business sector to reach an inclusive economic growth. “It was a very good meeting between the Government led by President Prabowo and the business sector,” Anindya Bakrie commented on a separate occasion.

KADIN, in his opinion, is ready to support the Government’s agenda, especially in achieving economic growth target of 8 percent and eradicating poverty. Additionally, he also highlighted the Danantara’s role as a remarkable breakthrough in national investment, and he emphasized the importance of good governance and a well-planned investment strategy.

“Danantara is a remarkable breakthrough, but most importantly we can manage good governance and good investment to produce a good result,” he added.

Anindya also firmly stated that KADIN has a strategic role in ensuring economic growth which is not only centred in big cities, but also reaches regional areas. “KADIN covers the business sector, so it is essential in building an ideal cooperation that reaches the regional areas since, as Mr. President said, not only do we expect growth, but we also want to ensure common welfare,” he concluded.

The discussion stressed the importance of collaboration between the Government, the business sector, and global investors in establishing a strong and sustainable investment system. With inputs from Ray Dalio, lesson learned from benchmarking with international SWF, and commitment of Indonesian business actors, Danantara Indonesia is expected to be the main pillar in managing national investment and strengthening Indonesian economic competitiveness at the global level.

Also present at the meeting were a number of Red and White Cabinet Ministers, Indonesian businesspersons, namely Anthony Salim, Sugianto Kusuma, Prajogo Pangestu, Boy Thohir, Franky Wijaya, James Riady, Tomy Winata, Chairul Tanjung, Hilmi Panigoro, Andi Syamsuddin Arsyad, dan Edward Wanandi. (Bureau of Press, Media, and Information (BPMI) of the Presidential Secretariat)(AW/TM)