By: Fitra Karen *)
In an effort to strengthen the foundation of the national economy and accelerate the transformation of strategic sectors, the Daya Anagata Nusantara Investment Management Agency (Danantara) took a significant step by reinvesting dividends of IDR 81.5 trillion in 2025. This reinvestment is not just a mere placement of funds, but a measured strategy to increase economic leverage through priority sectors that support national development policies.
This dividend management comes from a projected income of up to IDR 120 trillion from state-owned companies. Rather than just being passive state income, Danantara takes a productive approach by directing the funds to sectors that are believed to be able to create long-term added value. This step emphasizes Danantara’s role as a strategic investment catalyst, not just as a fund manager.
The investment of 5 billion US dollars is targeted to be disbursed within the next six to nine months. Danantara Indonesia Managing Director, Arief Budiman, said that the targeted sectors were determined based on a combination of potential economic impact, investment return prospects, and their suitability with national policy directions. This is where Danantara’s caution and courage lie, namely directing public funds to sectors that are not only economically promising, but also relevant in answering long-term development challenges.
Sectors of concern include minerals and downstreaming, renewable energy, digital infrastructure, health, financial services, infrastructure utilities, industrial areas, and food. Capital placement in these sectors is not done haphazardly, but based on calculations of macroeconomic impacts and strategic opportunities to strengthen national independence. For example, in the food sector, Danantara has expressed its commitment to supporting the self-sufficiency program that is in line with the national food security agenda. The same thing also applies to the housing sector, with a signal of support for the 3 million homes program, as long as there are Public Service Obligation (PSO) funds.
Meanwhile, Danantara’s Chief Investment Officer, Pandu Sjahrir, emphasized that the commercialization aspect and the level of return on investment are elements that are always prioritized. However, this approach does not necessarily set aside the development mission. In fact, by focusing on feasible and bankable economic activities, Danantara positions itself as a liaison between development aspirations and sustainable business logic.
In practice, Danantara’s strategy imitates the spirit of BUMN asset consolidation once initiated by Economics Guru Sumitro Djojohadikusumo. State assets are no longer viewed as stand-alone entities, but rather as part of the national development ecosystem that must be optimized through productive investment. Danantara positions itself as an orchestrator that unites potential, both from within the country and foreign partners, to form a strong capital coalition.
Interestingly, Danantara does not only rely on internal funds. Efforts to attract co-investment are an integral part of the strategy being implemented. Whether in the form of financial capital or technology and expertise transfer, this joint investment is expected to be able to answer domestic limitations and expand the capacity of the national economy. This approach is not just about enlarging the scale of the project, but also becomes a path to increasing national competitiveness in technology, efficiency, and innovation.
In its execution, Danantara chose a sectoral priority-based approach. Several sectors highlighted by Pandu include mineral downstreaming such as nickel, tin, and bauxite; the energy sector from both the generation and transmission sides; and water and waste infrastructure. In manufacturing, Danantara sees opportunities from the electric vehicle and semiconductor ecosystems driven by industrial relocation from China and the global push for decarbonization.
Specifically for industrial areas, an investment of US$8 billion has been allocated to build an environmentally friendly industrial area in Central Sulawesi. This project reflects an approach that is in line with the policy of equitable development, and is a concrete effort to support Indonesia’s vision as a sustainable manufacturing center. In the long term, the development of such areas will not only create jobs, but also increase export capacity and reduce dependence on raw materials.
More than just fund management, Danantara’s role illustrates a new face of government investment management. The approach it carries is able to bridge the need for fiscal efficiency with the demands of sustainable development. This transformation makes dividends not the end of the economic process, but rather a new fuel to drive inclusive and equitable growth.
The reinvestment of Rp81.5 trillion is not just a big number on paper. It reflects a paradigm shift in public asset management. The government, through Danantara, shows that with transparent governance and a sharp vision, state funds can be used to create more value, strengthen economic sovereignty, and build a more resilient foundation for the future.
With this step, the government does not only rely on state spending to support development, but also strengthens the role of assets and investment as the main driving instruments for economic growth in realizing the direction of development policies that are modern, efficient, and in line with long-term national interests.
*) Economic and Investment Observer
