Prabowo: SOEs Will Be Cut From 1,000 To 240 Companies

JAKARTA - President of the Republic of Indonesia Prabowo Subianto emphasized the direction of the rationalization policy for state-owned enterprises (BUMN). This was conveyed in a dialogue with Forbes Media Chairman Steve Forbes, at the Forbes Global CEO Conference 2025 forum in St. Regis, Wednesday, October 15 evening.

"I have given directions to the Danantara leadership to rationalize everything, cut from 1000 SOEs to more rational numbers maybe 200, or 230, 240 and then run it according to international standards," said Prabowo.

Prabowo emphasized that BUMN reform aims to increase efficiency and the results of state businesses which have been still low.

"I have told Danantara management to run SOEs with international business standards. You can find the best brain, the best talent," he said.

He also said that the government had changed regulations to open up opportunities for foreign professionals to lead state-owned companies.

"I have changed the regulations. Now the expatriate, non-Indonesian, can lead our SOEs," he said.

On that occasion, Prabowo also said the need for political leaders to understand the economy and business in order to be able to make policies that are rational and data-based.

Sometimes there is a kind of decision between economic actors and political actors, political leaders. Many political leaders, I think, don't want to do their homework. Many political leaders may be afraid of numbers or afraid of business, "said Prabowo.

So I think it is now an obligation for young Indonesian leaders who want to become political leaders to understand business and the economy.