Tuesday, April 16, 2024

Indonesia Investment Authority secures IDR300 trillion in investment commitments

Reading Time: 3 minutes
Gusty da Costa





Indonesia Investment Authority (INA) has shown a strong performance in its maiden year of operation, securing around IDR300 trillion in investment commitments for 2021 in transportation, logistics, maritime, and digital infrastructure.

“The investment commitments are outlined in 11 investment agreements, four heads of agreement, and 16 letters of intent/non-binding offers,” said INA spokeswoman Masyita Crystallin told Indonesia Business Post on May 20, 2022. 

INA is also involved in several investment processes in the health care sector and is actively engaged in a discussion about energy transition mechanisms.

Established in 2021, the Indonesian government tasked INA, the country’s sovereign wealth fund, to diversify the economy into a new asset class. INA aims to create wealth for future generations through its fund and contribute to Indonesia’s sustainable development. As an adviser, partner, broker, and asset manager, INA strives to materialize sustainable development in Indonesia and create wealth for future generations.

Capital injection

The government injected IDR75 trillion to INA, consisting of IDR15 trillion in cash deposited in February 2021 and another IDR15 trillion deposited in November 2021. The government’s transfer of shares of two state-owned enterprises took place in December 2021, amounting IDR45 trillion.

INA co-invests with strategic partners in sectors that promise exponential growth in Indonesia, recovery from the COVID-19 pandemic, and optimal investment returns to investors. The authority elects to invest as an equity partner for long-term investment. 

INA plans to focus on several sectors in 2022, including airports, seaports, toll roads, cargo terminals, and container ports. Digital infrastructure includes digital platforms and services, data centers, telecommunication towers, fiber optic, and broadband services are also included in the list. INA also focuses on health care, renewable energy, and waste management. 

Investments of this kind are intended to provide a return on investment commensurate with their risk. Each asset has a different return target based on its risk profile.

“Accordingly, we invest in sectors with high growth potential due to Indonesia’s unique characteristics, such as its demography, natural resources, rapid adoption of technology, low penetration of various sectors, urbanization, and consumer behavior,” Crystallin said.

Domestic focus

Although INA can invest in domestic and foreign projects, it currently focuses on projects in Indonesia. INA continues to seek funding from global partners for the projects in the short term. As a result, Crystallin said, “We do not exclude investments in foreign projects as long as they contribute to Indonesia’s prosperity and increase its competitiveness.” 

By 2021, there are estimated to be Rp 75 trillion in assets under INA’s management, and it hopes the number will double. After INA and the project owner have completed a due diligence process, all funds, including those from strategic partners and government capital injections, will be directed to the respective projects. 

INA has executed investment in Indonesia’s largest telecom tower company, PT Dayamitra Telekomunikasi Tbk (Mitratel), through an IPO for US$770 million in cooperation with its partner. Mitratel launched its Initial Public Offering (IPO) in November 2021.


INA also secured the opportunity to explore investments in several strategic port locations in Indonesia, with Dubai Port (DP) World – a Dubai-based multinational logistic company – as its most significant operator. INA and DP World have signed a strategic alliance agreement that represents an investment commitment of US$7.5 billion. 

In addition, INA has also established an investment platform in toll road projects worth US$3.75 billion, which involves an international consortium of investors, including the Caisse de depot et placement du Quebec (CDPQ) of Canada, APG Asset Management (APG) of the Netherlands, and Abu Dhabi Investment Authority (ADIA) of the United Arab Emirates.

INA has reviewed 35 toll road assets in cooperation with the consortium, including the Trans Sumatra and Trans Java toll roads.

“The project’s goal is to create multiplier effects for economic growth in Sumatra and Java islands,” Crystallin said. 

INA also signed an agreement worth US$10 billion with the Abu Dhabi Growth Fund (ADG), which was established to support the United Arab Emirates. ADG and INA have developed a partnership that has enabled them to cooperate on various high-return investment projects.

Gusty da Costa






We will provide you with an invoice for your reimbursable expenses.


New to Indonesian market? Read our free articles before subscribing to the premium plan. If you already run your business in Indonesia, make sure to subscribe to the premium subscription so you won’t miss any intelligence & business opportunities.


$550 USD/Year


$45 USD/Month

Cancelation: you can cancel your subscription at any time, by sending us an email inquiry@ibp-media.com

Add keywords to your market watch and receive notification:
Schedule a free consultation with us:

We’ll contact you for confirmation.


The Coordinating Ministry for the Economy held a coordination meeting with all Deputy Ministerial elements along with the Ministry of Foreign Affairs and several Ambassadors on Monday, April 15, 2024 in response to developments in the Middle East conflict following Iran’s retaliatory offensive against Israel. 
The textile and textile product (TPT) industry asks all stakeholders to comply with import restriction policies as regulated in Minister of Trade Regulations No. 36/2023 and No. 3/2024 on Import policy and control. 
The government has spoken out regarding Indonesia’s stance on Iran’s recent attack on Israel, asking the United Nations Security Council (UNSC) to take swift action to de-escalate tensions in the region.
A statement by Speaker of the People’s Consultative Assembly (MPR) Bambang Soesatyo which suggests that democracy in Indonesia does not require opposition has drawn criticism from experts. 
In the wake of the quinquennial political festivity, the movement towards reconciliation among competing factions within Indonesia’s political coalition has become an integral part of the country’s political dynamics.
Cooperation among government’s agencies and ministries is needed to prevent corruption cases, such as the alleged corruption at PT Timah which has incurred US$ 13.6 billion in State losses based on calculation of an IPB University expert.