February 24, 2026 | 10:43 am
TEMPO.CO, Jakarta - AT the Annual Meeting of the 2026 World Economic Forum in Davos, Switzerland, on Friday, January 23, 2026, President Prabowo Subianto introduced the Daya Anagata Nusantara Investment Management Agency, or Danantara. The institution, Prabowo said, would manage assets of up to US$1 trillion—about Rp16,000 trillion—to finance future industries.
Prabowo also said Indonesia intends to pursue industrialization. To meet the highest standards in that effort, he acknowledged that he had allowed Danantara to recruit foreign nationals, or expatriates, to lead state-owned enterprises (SOEs). “We want the best brains and thinking in the world,” he said.
Prabowo’s remarks about recruiting foreign executives for SOEs were not his first. In a dialogue with Malcolm Stevenson Forbes Jr. in Jakarta on October 15, 2025, he said the government had amended regulations to allow expatriates to lead state-owned companies. The regulation in question was the law on state-owned enterprises.
On October 6, 2025, Prabowo signed Law No. 16/2025, the fourth amendment to Law No. 19/2003 on State-Owned Enterprises. Before the new regulation took effect, a requirement to serve as a director at a state-owned company was Indonesian citizenship, as stipulated in Article 15A paragraph (1) letter a.
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