Politics
Sovereign fund Danantara Indonesia calls “the dream team” of former presidents, Sachs, Dalio and ex-Thai PM Thaksin
“Positive signal”
In its first investment wave worth 20 billion US dollars, Danantara will target projects in the transformation of natural resources, the development of artificial intelligence and energy and food security.
The creation of Danantara and the concerns concerning the substantial role of the state in the economy was among the causes of a market sale last week in the greatest economy of Southeast Asia, according to some analysts, when the main stock index dropped to 7%, which triggered the stop.
Indonesian actions have dropped at the lowest on Monday since August 2021, while the currency of the rupee reached a three -week hollow as concerns about the prospects for budgetary health and growth in the country.
There have been concerns on the financial markets concerning a potential political interference in Danantara, although Prabowo said that the fund could be audited at any time by anyone.
Rosan said the appointments of professional leaders would more guarantee market confidence.
“When these names are well received, this could be a positive signal for the Indonesian economy, job creation,” he said at the same event, adding that all of Indonesia public enterprises were now under the direction of the new fund.
The structure of the Danantara team could potentially guarantee market confidence because it is filled with global names that have credibility in the financial sector, an analyst in Kiwoom Sekuritas told Reuters.
An economist at the University of Paramadina Wijayero Samirin, however, said that the management of the fund had to ensure that it could not be subject to political interference in the future.
Danantara administrators include former banks officials such as Bank Mandiri and HSBC, former administrator of the Indonesian central bank, as well as the former investment director of Indonesia Investment Authority, the country's first sovereign fund.
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Sources 2/ https://www.channelnewsasia.com/asia/sovereign-wealth-fund-danantara-indonesia-name-dream-team-former-president-joko-widodo-jeffrey-sachs-ray-dalio-thaksin-shinawatra-5020106 The mention sources can contact us to remove/changing this article |
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