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.
Over the years, SOEs in Indonesia have played a vital role in supporting economic development, providing public services, and being a major driver of growth in various sectors. However, ongoing challenges, ranging from overlapping authorities, weak management, to issues of transparency and accountability, have hampered the optimization of the role of SOEs as agents of development.
Danantara is here as an answer to these needs. 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 state-owned enterprises 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 the aspect of business decision making, but also in the process of performance assessment, HR placement, and risk and capital management. Every step taken is directed to create 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 scrutiny. 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.
Danantara’s existence also opens up wider space for innovation and collaboration between state-owned enterprises. With more coordinated management, previously overlooked synergy potential can now be maximized. For example, companies engaged in the infrastructure sector can synergize with state-owned energy and finance 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 a breath of fresh air to the investment climate in Indonesia. Professional and transparent management of state-owned enterprises 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 BUMN 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.
President Prabowo emphasized the importance for all BUMN officials and related entities to work optimally and abandon inefficient practices. In addition, he requested that Danantara management conduct a comprehensive evaluation of the directors, covering aspects of performance, character, integrity, and achievements, and emphasized the importance of BUMN companies prioritizing promotions from within and implementing a professional leadership selection process.
Previously, Minister of Finance (Menkeu), Sri Mulyani Indrawati said that BUMN as a state-owned company will continue to be managed well. According to her, Danantara will certainly manage BUMN professionally and transparently. In terms of human resources, Danantara is also a catalyst in the formation of a professional talent ecosystem in the BUMN environment.
In the long term, the reforms carried out through Danantara are expected to become a model for state asset management that can be replicated in other sectors. Indonesia’s experience in building a modern BUMN management system can be an example for other developing countries facing similar problems. Moreover, this will strengthen Indonesia’s position in the eyes of the world as a country that is serious about carrying out structural reforms in order to achieve inclusive and sustainable growth.
)* The author is an Energy Journalist at Greenplace Resources Institute
