JAKARTA - Minister of Finance (Menkeu) Sri Mulyani conveyed that the use of natural resources by the Investment Management Institute (LPI), especially wealth that controls the lives of many people, is not included in the capital participation section.
"In the Job Creation Law, important production branches, such as land, water, and the wealth contained therein will not be included in the LPI's equity participation," he said in an official statement after the Commission XI DPR-RI Working Meeting, Monday, February 1. .
The minister added, this natural wealth could be managed in the form of a joint venture, with the LPI acting as the determinant of the policy direction. In its application in the field, LPI can collaborate with third parties, including by forming a business entity, both from within and outside the country.
"For this joint venture, LPI can provide capital participation or form by making equity participation," he said.
The minister also explained, as separated state assets, joint ventures could transfer assets in the form of buying and selling to investment management institutions.
In addition, State-Owned Enterprises (BUMN) can also buy and sell or provide direct preference rights in joint ventures.
"Assets with certain criteria can be delegated to a joint venture company where LPI retains its position as the main determinant in terms of business policy and determinants in decision making," concluded the Minister of Finance.
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