adminKN-JAKARTA, President Prabowo Subianto received U.S. investor Ray Dalio at the Presidential Palace in Jakarta recently. During the meeting, Prabowo was accompanied by several ministers, including Finance Minister Purbaya Yudhi Sadewa. According to Purbaya, the discussion covered several key projects, including plans to develop new Special Economic Zones (SEZs) to enhance Indonesia’s attractiveness to investors. The President also discussed projects in the energy sector, particularly those related to renewable power generation. He added that an additional SEZ is planned as part of efforts to boost investment inflows.
Indonesia’s sovereign wealth fund Danantara has responded to circulating rumors about a potential investment in U.S.-based film studio A24, which have spread on social media in recent days. In an official statement, Danantara’s communications team emphasized that any investment decisions are not solely driven by financial returns but also prioritize strategic value, including knowledge transfer to support the development of Indonesia’s creative ecosystem. The agency also noted that its investment steps undergo a thorough process and adhere to its core mandate. Danantara stressed that investing in global creative sectors such as A24 is not merely about capital placement but also about achieving long-term goals, particularly enhancing the capacity of Indonesia’s domestic film industry.
When Danantara was launched a year ago, the agency was envisioned as one of the world’s largest sovereign wealth funds (SWFs). However, its investment decisions so far suggest that its focus has tilted toward supporting the government’s agenda rather than investing in profitable sectors and generating long-term returns like SWFs in other countries. Danantara has announced several notable commercial investments, including a US$200 million commitment to Chandra Asri’s new petrochemical facility, which signals its intent to participate in strategic industrial projects. Yet, many of its other moves appear less like disciplined portfolio-building and more like extensions of the government’s economic development agenda.
Photo: President Prabowo Subianto received Danantara advisor, Ray Dalio, at the Presidential Palace, Central Jakarta, (BPMI Setpres)
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