On March 7, 2025, Indonesian President Prabowo Subianto welcomed Ray Dalio, founder of Bridgewater Associates, along with several Indonesian business magnates, at the Presidential Palace in Jakarta. The meeting aimed to discuss Indonesia’s newly established sovereign wealth fund, Danantara, which was officially launched on February 24, 2025.
The Launch of Danantara: An Ambitious Initiative
Danantara, officially known as the Daya Anagata Nusantara Investment Management Agency, was created to optimize the management of Indonesia’s state-owned enterprises and attract foreign investments. With an initial capital of at least 1,000 trillion rupiahs (approximately USD 61 billion), the fund aims to expand its assets to USD 982 billion by 2029, positioning it among the world’s largest sovereign wealth funds.
Strategic Goals and Targeted Sectors
President Prabowo has expressed his ambition to accelerate Indonesia’s economic growth from 5% to 8% by 2029, using Danantara as a key driver. The fund is tasked with overseeing and restructuring state-owned enterprises while attracting global investments in key sectors such as renewable energy, advanced manufacturing, downstream industries, and food production.
Recognized for his expertise in sovereign wealth funds and investment strategies, Ray Dalio was invited to share his insights on Danantara’s development. During the meeting, he emphasized the importance of overcoming corruption to enable Indonesia’s economy to thrive. He also expressed confidence in President Prabowo’s leadership to achieve these objectives.
Acknowledging concerns about governance and transparency, President Prabowo assured that Danantara would operate with a commercial mindset, focusing on productive and transparent investments. The fund plans to invest in large-scale projects that offer strong returns and align with the government’s priority sectors to stimulate economic growth and job creation.
Collaboration between the Indonesian government, international investors like Ray Dalio, and key private sector players is crucial to ensuring Danantara’s success. This initiative reflects Indonesia’s commitment to strengthening its economy and attracting high-quality investments for sustainable development.
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