BP Investasi Danantara Assessed As A Form Of Economic Democracy

Rupiah (Photo: Antara)

JAKARTA - The establishment of the Anagata Nusantara Resources Investment Management Agency (BP) is considered a manifestation of the realization of economic democracy based on Article 33 of the 1945 Constitution.

"In the context of Article 33 paragraph 4 of the 1945 Constitution regarding economic democracy, BP Investasi Danantara manages government assets, so that these assets can add value and provide benefits for the country," said Executive Director of Indonesia Law and Democracy Studies (ILDES) Juhady Rizaldy Ruringkon quoting Antara.

Article 33 paragraph 4 of the 1945 Constitution reads: "The national economy is held based on economic democracy with the principles of togetherness, efficiency with justice, sustainable, environmentally friendly, independence, and by maintaining a balance of progress and national economic unity".

He stated that the formation of BP Investasi Danantara is also a structural and functional institutional reform related to the management of state assets.

According to Juhady, the first thing that the agency must do is ensure that the implementation of its duties and authorities must be stated in clear laws and regulations, including how Danantara is related to other institutions in the short, medium and long term.

He also said that the institution has the potential to increase Indonesia's competitiveness in the global investment market.

"President Prabowo made this big idea for how this investment management is managed properly and has international competitiveness," he said again.

BP Investasi Danantara is chaired by Muliaman Darmansyah Hadad, while Kaharuddin Djenod Daeng Manyambeang acts as deputy head of the agency that was just formed by President Prabowo Subianto.

Both were inaugurated based on the Decree of the President of the Republic of Indonesia (Keppres) Number 142/P of 2024.

Muliaman said that the institution has different duties and functions from the Ministry of State-Owned Enterprises (BUMN).

He stated that the formation of this agency is a form of President Prabowo's commitment to optimizing the management of state investment so that it can be more integrated and no longer run alone.