By: Fahri Syahreza
The presence of Daya Anagata Nusantara (Danantara) marks an important milestone in Indonesia’s journey toward fiscal independence. Until now, state-owned enterprises (SOEs) have often been associated with negative stigma as fiscal burdens, but Danantara brings a different narrative. This institution is designed to be a growth engine, an innovation driver, and a pillar of national welfare. With its increasingly proven institutional capacity, Danantara has now become a symbol of a new era of fiscal management that is more modern, transparent, and competitive.
Danantara’s Chief Operating Officer (COO), Dony Oskaria, emphasized that in the first six months of operation, Danantara achieved very significant milestones. One of the greatest achievements was securing funding of 10 billion US dollars, equivalent to IDR 163.18 trillion, from a consortium of 12 foreign banks. This fact not only reflects Indonesia’s credibility in the global arena but also demonstrates that a national investment institution can foster international trust. In a global geopolitical environment full of uncertainties, this achievement is a rare feat for a newly established institution. This success also opens new fiscal space to support a more sustainable national economic transformation.
Dony further explained that managing funds amounting to trillions of rupiah is not just about managerial capability. More importantly, integrity, consistency, and strong governance are required to ensure that long-term goals are maintained. Challenges are inevitable, especially amid national political dynamics that often influence economic policy direction. However, the first six months have sent a strong signal that Indonesia is capable of building a credible investment institution. While SOEs were once viewed as black holes for the state budget, Danantara now emerges as an entity that brings new hope.
It is important to note that international confidence in Danantara also indicates that Indonesia is no longer solely reliant on traditional financing. By opening investment opportunities through innovative instruments, Indonesia can expand its fiscal space. This will provide the government with greater flexibility to finance strategic development without always depending on conventional foreign debt. Danantara’s ability to secure global financial support at such a young age is concrete proof that the nation can build a world-class investment institution.
Meanwhile, Danantara’s Chief Investment Officer (CIO), Pandu Sjahrir, stated that their investment strategy is direct investment that touches the real market. Thus, each investment managed not only provides short-term financial returns but also has a significant impact on national development. This approach differs from traditional methods that tend to focus on short-term returns. Pandu stressed that Danantara’s existence must be understood as part of Indonesia’s grand mission to build a long-term oriented economic ecosystem.
This direct investment approach is important because it ensures that managed funds truly reach vital sectors. Through this, Danantara can support infrastructure development, energy, education, and sustainable resource management. The ripple effects of this strategy will undoubtedly strengthen the national economic structure. Moreover, the direct investment strategy also creates job opportunities, encourages technology transfer, and broadens the domestic industrial base. This is what gives Danantara a strategic position in the government’s efforts to promote inclusive and sustainable economic growth.
Another major step currently being prepared by Danantara is the issuance of a Patriot Bond worth IDR 50 trillion with a coupon rate of 2% per annum. This instrument is targeted at domestic investors, especially conglomerates or large business groups in Indonesia. The Patriot Bond is not merely a financial instrument but also a representation of the spirit of mutual cooperation in financing national development. With a low coupon rate, Danantara’s cost of funds becomes more efficient. This will strengthen Danantara’s capacity to manage various strategic projects with measured financial risks.
Similarly, Chief Economist of Sucor Sekuritas, Ahmad Mikail, believes the issuance of the Patriot Bond will be key in accelerating several vital projects, particularly in the renewable energy sector. He mentioned that green energy projects require advanced technology and large investment costs. With the Patriot Bond, Danantara can optimally allocate funds to this sector without being burdened by high capital costs. Mikail emphasized that the success of the Patriot Bond lies not in the coupon offered, but in the size of the bond issuance itself. Therefore, the larger the funds raised, the greater the developmental impact that can be realized.
From a macroeconomic perspective, the Patriot Bond will strengthen national fiscal resilience. The involvement of domestic investors in financing strategic development will reduce Indonesia’s reliance on foreign debt. On the other hand, this also shows that large domestic business groups have an important role in reinforcing the nation’s economic foundation. The Patriot Bond is not just a financial instrument but a real manifestation of economic nationalism based on collaboration between the state and business actors.
Danantara’s presence with its various breakthroughs reflects the government’s commitment to building a strong, independent, and competitive economic foundation. In the context of fiscal independence, Danantara plays a dual role: as an innovative instrument for fundraising and as a catalyst for national development. With a well-planned strategy, strong regulatory support, and integrity in governance, Danantara has the potential to become an investment institution of global repute, not only regionally but also internationally.
