Indonesian President Prabowo plans to establish state investment company

INDONESIAN President Prabowo Subianto wants to create a new investment agency that would become a holding company for state investments, similar to Singapore's Temasek, the official appointed to head the proposed company said Tuesday (Oct 22).

Prabowo, 73, took office on Sunday and has since sworn in more than 100 people as ministers and MPs, heads of new institutions and advisers.

The Daya Anagata Nusantara investment management agency will be established as soon as Prabowo gets parliamentary approval, Muliaman Hadad, former head of the Financial Services Authority who was appointed to head the body, told reporters .

The structure of the agency is being discussed with other authorities, but the aim is for it to function like Temasek as a state-owned investment company, said Hadad, who also served as Indonesia's ambassador to Swiss.

The aim is to allow scattered investments to be consolidated and exploited, he explained.

Currently, public participation in state-owned enterprises is managed by the Ministry of Public Enterprises. State-owned enterprises in sectors such as banking, telecommunications, construction and mining play a dominant role in the economy. Hadad noted that discussions on the new agency would involve the Ministry of Public Enterprises as well as the country's sovereign wealth fund, the Indonesia Investment Authority.

A NEWSLETTER FOR YOU

Friday, 8:30 a.m.

Asian business

Business outlook focused on the fast-growing economies of Southeast Asia.

After winning the February election, Prabowo told an investment forum in March that he was open to privatizing non-strategic state-owned enterprises to allow the private sector to play a greater role in the economy, without providing further details.

Prabowo on Tuesday also named former World Bank Managing Director Mari Elka Pangestu as his special envoy for trade, and former investment chief minister Luhut Pandjaitan as his adviser for government digitalization.

Many economy ministers from Joko Widodos' predecessor were retained in Prabowo's red-and-white cabinet, including the highly regarded Finance Minister Sri Mulyani Indrawati and Chief Economy Minister Airlangga Hartarto, a move that, according to some analysts, would guarantee the continuity of the policy.

Prabowo's experienced economic team significantly boosts investor confidence, establishing a solid foundation for sound and prudent policymaking, said Brian Lee, economist at Maybank Investment Banking Group.

Lee added that investors are still watching Prabowos' initiatives to improve the investment climate and cut red tape.

Prabowo will have the country's largest cabinet in decades. He will hold his first Cabinet meeting on Wednesday, and later this week he will take Cabinet members on a three-day retreat to a military academy in Central Java. REUTERS

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos