Hundreds of State-Owned Enterprises Officially Managed by Danantara Professionally and Transparently
By: Eleine Pramesti
The transformation of state-owned enterprise governance has entered a new phase with the presence of Daya Anagata Nusantara (Danantara), a strategic entity that now officially manages hundreds of state-owned enterprises professionally and transparently. This step is a concrete symbol of the government’s commitment to improving the state-owned enterprise management system to be more efficient, accountable, and oriented towards real results for the national interest. Amidst the ever-changing dynamics of the global economy, this new approach to managing state assets is an important milestone towards more comprehensive reform.
For years, state-owned enterprises in Indonesia have played a vital role in supporting economic development, providing public services, and being the main driver of growth in various sectors. However, never-ending challenges, ranging from overlapping authorities, weak management, to issues of transparency and accountability, have hampered the optimization of the role of state-owned enterprises as agents of development.
Danantara is here as an answer to this need. This entity is designed to act as a strategic manager of state assets capable of centrally managing hundreds of state-owned enterprises. With a modern organizational structure and supported by professional human resources recruited through an open and competitive process, Danantara provides new hope that the management of BUMN is no longer controlled based on political interests or certain groups, but rather based on business logic and a long-term vision of national development.
Professionalism is the key to the entire Danantara work system. Not only in terms of business decision-making, but also in the process of performance assessment, HR placement, and risk and capital management. Every step taken is directed at creating added value for the country while increasing the competitiveness of BUMN at the national and international levels.
Transparency is the second foundation that supports the success of this transformation. The entire management process, from strategic planning, operational implementation, to performance evaluation, is widely opened for public supervision. The financial reports of companies managed by Danantara will follow international standards, and the audit results will be carried out by an independent institution to ensure credibility. Thus, public trust in BUMN can be restored, even strengthened, because the public can see and assess directly how state assets are managed.
The existence of Danantara also opens up wider space for innovation and collaboration between BUMN companies. With more coordinated management, the potential for previously overlooked synergies can now be maximized. For example, companies engaged in the infrastructure sector can synergize with state-owned energy and financial companies to accelerate the development of national strategic projects. The portfolio approach taken by Danantara allows investment and resource placement to be carried out more efficiently and in an integrated manner.
This step also brings fresh air to the investment climate in Indonesia. Professional and transparent management of state-owned companies is an important indicator for investors, both domestic and foreign, in assessing the level of certainty and security of doing business in a country. When state-owned companies are managed with modern business principles, the potential for collaboration with the private sector will be greater. This also supports job creation, increasing the capacity of the national industry, and strengthening the economy as a whole.
The Investment Management Agency (BPI) Danantara recently held a Townhall Meeting. On that occasion, Danantara CEO Rosan Roeslani said that as many as 844 business entities consisting of state-owned companies and their subsidiaries and grandchildren have joined the sovereign wealth fund (SWF). He said that Danantara’s presence was very timely, especially amidst increasing global geopolitical tensions, which are increasingly making various countries aware of the importance of relying on national economic strength.
Meanwhile, the President of the Republic of Indonesia, Prabowo Subianto, was present in person at the Townhall Meeting. The President of the Republic of Indonesia said that he personally took the initiative to convey a message privately to the directors of BUMN. In the meeting, all directors of 844 BUMN companies, including their subsidiaries and grandchildren, were also present.
