By: Febri Hidayat )*
The government’s efforts to strengthen the management of state assets continue to be directed toward creating efficiency that has a direct impact on long-term economic development. For this reason, the Daya Anagata Nusantara Investment Management Agency (Danantara) has been positioned as a strategic instrument to ensure that state wealth is not only preserved in value, but also grows productively and in a well-directed manner.
The establishment and strengthening of Danantara’s role reflect the government’s determination to exercise greater control over the management of national investments. Member of the House of Representatives’ Budget Committee (Banggar DPR RI), Mohamad Hekal, views this move as an effort by the state to become more independent in attracting and managing investments, without continuously relying on opportunistic external capital flows.
Accordingly, Danantara is expected to be able to consolidate state assets and investments so that the government has stronger bargaining power in determining the direction of economic development. This perspective underscores that asset efficiency is not merely about cost savings, but also about the state’s courage to manage its own economic potential.
Hekal also emphasized the importance of maintaining the role of State-Owned Enterprises (SOEs/BUMN) as major contributors to state revenue through dividends. According to him, more efficient investment management will prevent SOEs from resorting to asset divestment due to short-term liquidity pressures. Instead, state assets can be directed toward expanding productive and sustainable investment portfolios.
Efficiency promoted by the government through Danantara is also understood as an effort to improve the quality of spending and investment, rather than as a contractionary economic measure. Hekal stressed that efficiency must be result-oriented, ensuring that every rupiah spent by the state generates maximum impact for society.
From a macroeconomic perspective, the presence of Danantara is considered to have significant potential in optimizing the development of state assets. Economist Yusuf Rendy Manilet from the Center of Reform on Economics (CORE) views Danantara as an independent organization entrusted with a special mandate to manage the state’s strategic investments.
With this special mandate, state assets are expected to grow more substantially, particularly through investments in priority sectors such as renewable energy, high-technology manufacturing, and food security.
Yusuf believes that Danantara’s role will become increasingly relevant in driving economic growth over the next five years. He considers the government’s investment targets through 2029, although ambitious, to remain realistic when viewed against recent trends in investment realization, which have shown positive achievements.
The consistency in achieving these economic growth targets provides a strong foundation for the government to entrust asset and investment management to Danantara as a coordinated and professional institution. In this way, efficiency in managing state assets does not stand alone, but becomes part of a broader strategy to achieve national development targets.
In addition, Danantara is expected to expand the distribution of investments to regions that have traditionally been less attractive to investors. Yusuf notes that there is still investor hesitation to invest in certain areas due to various structural constraints.
The presence of Danantara is expected to reduce these risk perceptions through more secure and well-directed investment management. This step aligns with the government’s commitment to promote equitable development and reduce interregional disparities.
Academic perspectives further reinforce Danantara’s position as a long-term efficiency instrument. Firmansyah, Professor at the Faculty of Economics and Business of Diponegoro University, argues that Danantara’s main contribution does not lie in expanding the workforce or increasing short-term spending.
According to Firmansyah, the greatest potential instead comes from improving productivity and economic efficiency through focused long-term investments. Danantara is viewed as a strategic investment platform designed to strengthen national economic capacity in a sustainable manner.
Firmansyah explains that productive long-term investment is the primary mechanism for driving economic growth. The allocation of funds to sectors such as infrastructure, manufacturing, energy, and food is considered to have significant multiplier effects.
Strengthening the manufacturing industry, in particular, is believed to increase domestic value added and enhance national economic competitiveness. In the context of an archipelagic country like Indonesia, investment in technology and logistics is also a key factor in improving distribution efficiency and overall economic productivity.
Beyond investment, restructuring and improving SOE discipline are seen as other crucial mechanisms. Firmansyah observes that asset management through Danantara can encourage better SOE governance while reducing projects with low rates of return.
With more selective and bankable management, state assets can be directed toward economic activities that provide optimal benefits. This demonstrates that efficiency is achieved not only through cost reduction, but also through improving the quality of investment decisions.
In the short term, Danantara’s contribution to the real economy is expected to remain limited, as the focus is on project preparation and laying the foundations for investment. However, in the medium to long term, increased investment, capital accumulation, and productivity gains are expected to drive more stable and sustainable economic growth. This view reinforces confidence that the government’s policy through Danantara constitutes a strategic investment for the future.
Overall, the government’s push through Danantara to enhance the efficiency of state asset management reflects a measured and visionary policy approach. With legislative support, strong economic analysis, and a long-term orientation, Danantara becomes an integral part of the government’s efforts to ensure that state wealth is managed optimally for public welfare and national economic resilience.
*) The author is a public policy observer