Danantara Manages Rp150 Trillion Dividends: Supporting Economic Programs and Optimizing National Investment
By: Naura Astika )*
The Indonesian government is currently undergoing a crucial transition phase toward a more independent, modern, and long-term value-creating development model. Amid the spirit of reforming the national financing system, the establishment of the Investment Management Agency Daya Anagata Nusantara (BPI Danantara) marks one of the most significant strategic policies during President Prabowo Subianto’s administration.
One key milestone in this transformation is the management of dividends from State-Owned Enterprises (SOEs) by Danantara, estimated to reach Rp150 trillion this year. This large sum will no longer be returned to the state treasury but will be reinvested to fund productive, sustainable, and strategic investment projects vital to the future of the national economy.
According to Danantara’s management, this policy is not only a fiscal efficiency measure but also a step toward national investment independence. Previously, dividends from SOEs were directly transferred to the State Budget (APBN). Now, they are utilized to strengthen the financing structure of strategic projects and support the funding needs of SOEs without relying on the complicated and lengthy State Capital Participation (PMN) scheme. In this regard, Danantara plays a key role as a national funding catalyst, replacing the old system which heavily depended on political decisions and routine budget allocations.
This move aligns with President Prabowo’s economic policy that emphasizes investment as the main driver of economic growth. The government targets 8% growth by 2029. Achieving this target requires substantial, rapid, and efficient investments. Here, Danantara’s role is vital. CEO Rosan Roeslani stated that over the past decade, total investment inflows into Indonesia amounted to Rp9,100 trillion. For the next five years, the target is increased to Rp13,000 trillion. This figure demonstrates that investment is not just part of economic strategy but the main engine of development.
Danantara’s Chief Operating Officer (COO), Dony Oskaria, explained that the Rp150 trillion dividends from SOEs would be used for sustainable investment. The PMN scheme for state companies has now changed following Danantara’s establishment. Capital injections to SOEs are no longer channeled through the APBN approved by the House of Representatives (DPR), but directly from Danantara.
With managed funds estimated at around US$7 billion (Rp120–150 trillion) this year alone, Danantara plans to leverage its financial power to accelerate growth in the real sector. Investments are not solely focused on financial returns but also on creating quality employment, technology transfer, and enhancing the capacity of national industries. Danantara aims to ensure that every rupiah invested delivers a double impact on Indonesia’s economy.
Public opinion regards the SOE dividend management policy as the government’s bold step to adopt a new funding model for development. Until now, dependency on the APBN made infrastructure project financing and strategic sector development highly bureaucratic. By shifting funding sources from the APBN to professionally managed dividends, the government not only reduces fiscal burdens but also opens wider opportunities for value-based asset management.
Danantara’s CEO, Rosan Roeslani, highlighted that the agency will manage assets worth Rp15,000 trillion. Interestingly, Danantara’s funding no longer depends on state capital participation via APBN but instead comes from SOE dividends that will be reinvested in strategic projects.
This transformation is also expected to boost foreign investment appeal. Through leverage mechanisms mentioned by Danantara’s CEO — multiplying initial funds by four to five times — the investment growth potential becomes much larger. Danantara acts not only as a fund manager but also as a bridge to build market trust domestically and globally. When domestic funds can be professionally managed with tangible results, Indonesia’s investment climate will become more solid and competitive.
This policy also addresses longstanding criticisms of SOE inefficiencies that relied heavily on state funds without adequate performance. Now, under Danantara’s new mechanism, each fund injection carries clear, transparent, and measurable performance responsibilities. SOEs are required to demonstrate readiness and concrete business potential, not merely rely on their status as state-owned entities.
Ultimately, the policy to manage SOE dividends through Danantara reflects Indonesia’s new economic direction aiming to reduce fiscal dependency and move toward a modern financing system based on productive investment. This initiative strongly supports President Prabowo’s vision to create inclusive, sustainable, and globally competitive economic growth. With professional management and good governance principles, Danantara is not just a symbol of change but a concrete tool to build a stronger, more independent Indonesian economy.
)* Public Policy Analyst
