Jakarta — The Indonesian government, through the Ministry of State-Owned Enterprises (SOEs), has officially established an investment and operational holding company named Danantara as a strategic move to accelerate SOE transformation and enhance the global competitiveness of state-owned corporations. This formation was formalized following the issuance of a Government Regulation (PP) concerning the transfer of shares from several SOEs into the new holding structure.
Danantara is designed to serve as a parent company that manages and consolidates the state’s investment portfolio across several non-cluster SOEs. As of July 2025, the holding oversees more than 10 companies, including PT Rajawali Nusantara Indonesia (RNI), PT Perusahaan Pengelola Aset (PPA), and other entities previously unaffiliated with any specific industry cluster. The total assets under Danantara’s management are estimated at IDR 1,250 trillion.
Minister of SOEs Erick Thohir emphasized that Danantara will be a key pillar in realizing an adaptive and value-driven SOE ecosystem.
“This holding is not merely a consolidation platform, but also a driving force for reforming state governance and investment to be more efficient, transparent, and long-term oriented,” he said.
Beyond strengthening governance and operational efficiency, Danantara also embraces the principles of sustainable investment based on ESG (Environmental, Social, and Governance), while opening up avenues for strategic global partnerships.
Senior economist from the Institute for Development of Economics and Finance (INDEF), Aviliani, described the formation of Danantara as a critical step in addressing the complexity of SOE management.
“Many SOEs have long operated in silos without coordination. Through this holding, the government can better focus on creating investment value and boosting efficiency. However, the challenge is ensuring Danantara doesn’t become merely an administrative entity, but one that delivers real economic value,” she stressed.
Danantara’s establishment also forms part of the SOE Roadmap 2020–2034, which aims to position SOEs as value creators and engines of national development with global competitiveness. Through this integration, the government hopes to see a sustainable increase in SOE contributions to non-tax state revenues (PNBP) and overall economic growth.
With Danantara’s formation, SOE transformation enters a new chapter—marking a shift in paradigm from merely managing assets to creating strategic value for the nation and its people.
