TEMPO.CO, Jakarta - President Prabowo Subianto responded to doubts regarding the formation of the Daya Anagata Nusantara Investment Management Agency (BPI Danantara). The inauguration of the agency that will manage state-owned enterprises (BUMN) was held on Monday morning, February 24, 2025, at the Presidential Palace, Jakarta.

The head of state understands the many questions that have arisen about Danantara. "Perhaps there are doubts about whether this can succeed or not. This is understandable because this initiative has never been done before," said Prabowo in his speech at the inauguration of Danantara, which was monitored via the YouTube broadcast of the Presidential Secretariat on Monday.

He claimed that the public should be proud because Danantara is one of the largest sovereign wealth funds in the world, with a total of US$900 billion in assets under management (AUM).

Prabowo mentioned that Danantara is an investment board and an instrument for national development. "Make no mistake, what we are launching today is not just an investment fund, but a national development instrument that must be able to change the way the nation's wealth is managed for the welfare of all the Indonesian people,' he said.

He revealed plans to allocate the first wave of investment in Danantara worth US$20 billion for dozens of national strategic projects. "Approximately 20 billion-dollar strategic projects will be focused on the downstream of nickel, bauxite, copper, the construction of artificial intelligence data centers, oil refineries, petrochemical plants, food and protein production, aquaculture, and renewable energy,' he said.

The US$20 billion or Rp300 trillion fund, he said, is the result of savings in the first 100 days of his leadership. "We have managed to secure more than Rp300 trillion, almost US$ 20 billion, in the form of state savings," he said. "Funds that were previously hindered by inefficiency, corruption, and expenditures that were not targeted properly."

He also invited all parties to oversee the agency's implementation. "For Indonesia's Danantara to be managed as best as possible, very carefully, transparently, mutually observed, it must be audit-able at any time by anyone," he said.

Several figures accompanied Prabowo in Danantara's inauguration, which took place at 10:50 a.m. local time. Among them were the 6th President Susilo Bambang Yudhoyono (SBY), the 7th President Jokowi, former Vice President Jusuf Kalla, former Vice President Boediono, and former Vice President Ma'ruf Amin.

Also present was entrepreneur Chairul Tanjung. The launch event was also attended by several heads of political parties in the Advance Indonesia Coalition, leaders of the MPR and DPR, entrepreneurs, representatives of state-owned enterprises (BUMN), religious organizations, and university representatives.

Hendrik Yaputra contributed to the writing of this article.

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