JAKARTA - President Joko Widodo (Jokowi) said that in the near future the flow of funds worth US $ 20 billion is targeted to enter the national Sovereign Wealth Fund called the Indonesia Investment Authority (INA).
"Earlier, I was whispering to the Minister of Finance, at the beginning, maybe for a month or two, how much is the target for our SWF? "President Jokowi said during the 2021 Annual Meeting of the Financial Services Industry via a video conference from the Bogor Presidential Palace, West Java, Friday, January 15, evening, quoted from Antara.
Jokowi said that the government will deposit an initial cash capital of IDR 15 trillion and BUMN shares IDR 50 trillion for INA.
He hopes INA will become a strong investment strategic partner legally and institutionally, as well as a reliable and trusted strategic partner for long-term and sustainable economic development.
The President conveyed that the regulations regarding INA as the national investment management institution have been completed. INA is expected to seize investment opportunities and alternative development financing solutions.
Meanwhile, the names of the INA supervisory board have been submitted to the DPR and are expected to be completed next week.
"The formation of the SWF is needed to meet the growing financing in the future, and also to increase Indonesia's FDI and to reduce the ratio of receivables to Indonesia's GDP," he explained.
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