Indonesia's newly established sovereign wealth fund, Danantara Indonesia, has unveiled a high-profile advisory team, including former presidents Joko Widodo and Susilo Bambang Yudhoyono, hedge fund manager Ray Dalio, economist Jeffrey Sachs, and former Thai Prime Minister Thaksin Shinawatra. Launched under President Prabowo Subianto, Danantara aims to drive Indonesia's economic growth to 8% by 2029 by managing state-owned enterprise shares and reinvesting dividends into commercial projects. The fund, expected to eventually oversee more than US$900 billion in assets, has been compared to Singapore's Temasek. With an initial investment of US$20 billion, Danantara will focus on natural resource processing, AI development, and energy and food security. However, its formation has sparked market concerns, contributing to a stock market selloff last week that saw Indonesia’s main stock index drop by up to 7%. Despite these concerns, Danantara CEO Rosan Roeslani expressed confidence that the fund's distinguished appointees would reassure investors and stimulate job creation. Danantara's leadership includes former executives from major financial institutions such as Bank Mandiri, HSBC, and Indonesia's central bank. The fund is Indonesia’s second sovereign wealth fund, operating independently from the Indonesia Investment Authority. Sachs, serving as Prabowo's special adviser, emphasized his voluntary role in supporting Indonesia’s sustainable development. The fund's ambitious plans mark a significant shift in the government's economic strategy, reinforcing its role in managing state assets and investment growth.Source: https://www.thejakartapost.com/business/2025/03/24/danantara-indonesia-names-leadership-dream-team.html (ICE GIACARTA)

Fonte notizia: The Jakarta Post, 24 March 2025