Chief Investment Officer (CIO) of Indonesia’s sovereign investment agency BPI Danantara, Pandu Sjahrir, has revealed the agency’s plan to consolidate 889 state-owned enterprises (SOEs) into a streamlined structure under a single command aimed at reducing the current number of SOEs to around 200, simultaneously allowing for tighter coordination and stronger national synergy.
“We are currently focusing on bringing all 889 SOEs under a unified command, no longer operating individually, but working collaboratively,” Pandu said while addressing Digital Economy & Finance Forum hosted by the Indonesian Fintech Association (Aftech) in Jakarta on Friday, 4 July, 2025,
He emphasized that centralizing these enterprises under Danantara is crucial for improving coordination, streamlining operations, and supporting the national economic target of 8 percent year-on-year growth, as set by President Prabowo Subianto.
“Now is the time to move beyond individual agendas and start thinking collectively for Indonesia,” he said.
International and domestic partnerships
Since its establishment, Danantara has forged strategic international partnerships and executed corporate actions aimed at strengthening SOEs performance and attracting foreign capital. The agency recently signed a memorandum of understanding (MoU) with Saudi Arabia’s ACWA Power, involving a potential US$10 billion (Rp162.36 trillion) in project financing.
Danantara has also partnered with the Qatar Investment Authority (QIA) in managing a US$4 billion investment fund earmarked for development projects across Indonesia.
Corporate actions and private sector engagement
On the corporate front, Danantara extended a Rp6.65 trillion shareholder loan to national flag carrier PT Garuda Indonesia as part of its financial restructuring.
In collaboration with the private sector, Danantara and PT Chandra Asri Pacific (TPIA) are co-developing a chlor alkali–ethylene dichloride (CA–EDC) production facility, backed by an investment of US$800 million (Rp13 trillion).
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