Danantara Is Assessed To Be Able To Manage State Assets To A Higher Level

Asset management (Photo: Antara illustration)

JAKARTA - INDEF economist Rizal Taufikurahman considers that Danantara can become a strategic instrument to manage state assets to a higher level. However, it must be supported by competent leadership, clear regulations, and long-term oriented business vision.

Therefore, according to him, the government must dare to make strategic decisions that should not be arbitrary. The goal is to ensure that the establishment of the Danantara can create a positive impact on the Indonesian economy.

"President Prabowo must have the courage to take quick and strategic steps to ensure that Danantara is not only standing, but also succeeded in creating a significant positive impact on the Indonesian economy," Rizal said in an official statement, Monday, January 20.

Rizal said the current structural weaknesses of SOEs, including inefficiency and conflicts of interest, could make superholding models less effective if there are no comprehensive reforms.

"As a SWF institution, Danantara can attract global investment and increase transparency, as long as it is designed with strict and independently monitored rules. Without this step, the risk of failure such as several problematic SOEs will be even greater," he said.

On the other hand, Taufik said that the slow formation of the Danantara reflected weak coordination between institutions and the dominance of political interests.

President Prabowo must act decisively immediately by issuing Government Regulations or even Perppu if necessary. This strategy shows political commitment while at the same time providing legal certainty to the market," he said.

In addition, continued Taufik, it is also possible to involve independent experts in designing regulations as an important step to ensure credibility and effectiveness.

"Appropriating this step will only prolong uncertainty and weaken Indonesia's position in the eyes of global investors," he said.

Regarding the concern of managing SOE assets under Danantara, Rizal denied this. According to him, by being managed by Danantara professionally with international standards, these assets can produce significant added value.

The experience of other countries, such as Norway with the Government Pension Fund, shows that transparency, accountability, and sustainability are key. Otherwise, Indonesia will only add to the long list of failures in managing state assets," he said.

Therefore, Rizal emphasized that Danantara must be a catalyst for existing institutions such as INA, LPI, and Danareksa, not competitors.

With different but complementary mandates, Rizal continued, these institutions can create synergies that encourage national economic growth.

"In other words, a clear division of tasks and cross-institutional coordination is a must in the future in order to build a better Indonesia," he said.

The Danantara Business Model Must Be Based On Strategic Investment

Referring to success in other countries, Rizal suggested that the Danantara business model must be based on strategic, measurable, and long-term oriented investments.

Furthermore, he said the focus could be on sectors such as renewable energy, digital infrastructure, and high technology could provide sustainable added value.

" Adopting the Temasek or Mubadala model is a smart step, but it must be adjusted to Indonesia's unique needs and challenges. Every investment decision must be subject to a transparent and data-based evaluation mechanism," he stressed.

In addition, Rizal emphasized that ratifying the establishment of the Danantara without a complete regulatory framework is an action that can carry great risks, both legally and politically.

The solution, President Prabowo can use Perppu as a temporary solution. With a note that this step must be accompanied by broad consultation and transparency to the public. If it is done unilaterally, this action risks damaging the confidence of investors and the credibility of the government in the eyes of the international community," he said.