Danantara's Initial Idea: Soemitro Djojohadikoesoemo's Idea, Prabowo Subianto's Father Stimulates Indonesia's Economic Growth

JAKARTA - Soemitro Djojohadikoesoemo is one of the drivers of the Indonesian economy. The existence has been recorded from the era of the Old Order and the New Order (Orba). He has served ministerial positions in two eras. However, his contribution to the Indonesian economy was not only present during his tenure.

Soemitro is actually active in providing criticism and input to the government when he retires as a state official. The most memorable input is the establishment of an investment institution that manages SOE profits. Or what is now remembered as: Danantara.

Soemitro's existence cannot be underestimated in the history of the journey of the Indonesian nation. The Soemitro family's dedication to the state has been initiated since the era of his father, Margono Djodjohadikoesoemo. Margono's enthusiasm and nationalism also flowed in Soemitro's blood.

People call it like a fruit falling not far from a tree. The man who was born in Gombong, May 29, 1917, grew up as a genius like his father. He also has access to access education abroad. This condition made Soemitro believe that the knowledge he got abroad could build the Indonesian economy.

Soemitro's arrival from abroad was greeted with great fanfare. The leader of the Old Order Soekarno asked him to become Minister of Trade and then Minister of Finance. All of this was because his attitude and views were never far from economic thinking.

He focused on thinking about the concept of upstream and downstream so that the Indonesian economy would develop. He also tried to strengthen small producers in agriculture and industry. He fully supports the presence of foreign investors to Indonesia. Even though he then had disagreements with Bung Karno.

However, Soemitro's name was not immediately dim in the national map. Suharto and the New Order government are attracted to use his services. He was once the Minister of Trade, then the Minister of State of Research. He tried to bring the New Order government into control of the people's industrial centers. This field is considered important to control to increase economic growth.

Soemitro firmly advocates industrial development, but in national control. The direction of his view is to build a light industry and it is associated with the development of the agricultural sector. In the current context Soemitro does not just accept the high technology industry. He will definitely consider obstacles to economic structure, job opportunities, and balance payments.

He does not want to see the industrial sector controlled by foreign capital. Soemitro's framework of thought actually contains criticism of the economic wisdom of the New Order. And criticism of the public which was later allocated in Repelita II and GBHN since 1978 is in line with Sumitro's thought line. The Industrialization Strategy of import substitution does not fit the framework of Sumitro's idea," wrote Tempo magazine report entitled Sumitro from Period to Period (1988).

Soemitro did not necessarily choose to enjoy his old age when he was no longer the minister of the New Order. He continues to monitor the development of Indonesia's economy. He chose to be noisy when he saw irregularities after irregularities by state officials.

Criticism and criticism are often thrown by Soemitro. He once also criticized the leakage of his development funds and irregularities. The leak was considered very detrimental to the state and brought disaster.

He doesn't just throw criticism. Soemitro is also active in providing input. This input is usually told directly to the new New New New New New Order economic minister Minister of Finance from 1988-1993, JB Sumarlin.

He once suggested that the New Order form an institution that can manage BUMN profits 1-5 percent in the late 1980s. The idea was given so that the government could move freely to buy many private shares.

Soemitro believes the option will bring many benefits to the government. He voiced the input again in the 1990s. Soemitro's insistence is reasonable. A similar investment institution from the Malaysian Government called Khazanah Nasional Berhad began to generate benefits from 1993.

However, Soemitro's idea is just mental. Soemitro's idea was considered too high. The New Order government considers Soemitro's ideas not really needed. The idea became increasingly floating when the New Order collapsed.

Soemitro's ideas are like suspended animation. Everything changed when his son, Prabowo Subianto, became Indonesia's number one person from 2024. Soemitro's idea in the form of an investment institution was realized by the presence of the Investment Management Agency, Daya Anagata Nusantara Danantara.

The agency, in Soemitro's idea, became a kind of investment trust as well as investment guarantee fund. Soemitro even imagines that this institution can buy shares of profitable private companies.

When he gave a speech at the meeting of the Main Member of the Cooperative Office of the Republic of Indonesia on December 16, 1996, Soemitro said that he had conveyed the idea to JB Sumarlin, Minister of Finance 1988-1993. However, Sumarlin lightly rejected the idea by saying that Indonesia does not need an institution such as state-owned profit manager," said Bagja Hidayat in his writing in Tempo magazine entitled Danantara Is Prabowo's Father's Dream (2025).