News
Prabowo Directs IAI Danantara to be Launched by Nov. 7
WINDONESIA November 6, 2024
President Prabowo Subianto and Vice-President Gibran Rakabuming Raka. (Antara/Hafidz Mubarak A).
Investment Authority of Indonesia (IAI) Daya Anagata Nusantara (Danantara) Head Muliaman Darmansyah Hadad stated that the launch of IAI Danantara will be launched on Nov. 7, 2024.
"[I have received] directives regarding preparations to [launch IAI Danantara] on Nov. 7 [from President Prabowo Subianto]," he announced at the Jakarta Presidential Palace Complex on Nov. 5, 2024.
Muliaman said that the launch will be carried out at the Danantara Office in the Bank Pembangunan Indonesia (Bapindo) Building on Jl. R.P. Soeroso, Menteng District, Central Jakarta Administrative City, Jakarta.
IAI Danantara Deputy Head Kaharudin Djenod Daeng Manyambeang said that the government is preparing everything related to the formation of IAI Danantara. He added that the sovereign wealth fund (SWF)'s accompanying regulations will be issued after it has been launched.
"Yes. Several regulations have been revised," Djenod said.
IAI Danantara is projected be the fourth largest SWF in the world, and it will reportedly consolidate the existing Indonesian Investment Authority (INA) SWF along with seven of Indonesia's largest state-owned enterprises (SOEs). Assets to be managed by IAI Danantara is estimated to reach up to US$982 billion.
Source: nasional.kontan.co.id