Indonesia has launched a new sovereign wealth fund with an initial US$20 billion commitment that could potentially boost its economy or falter if its management falls short of international standards. Daya Anagata Nusantara, or Danantara, launched last week by President Prabowo Subianto, will be an investment vehicle and a holding company for Indonesia’s powerful state-owned … Read more
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Prabowo Subianto is kicking off his first foreign tour as Indonesia’s president with a visit to top trading partner China, underscoring Beijing’s importance to south-east Asia’s largest economy. Prabowo, who took office three weeks ago, … Read more
Indonesia’s hopes of wooing investments from foreign companies seeking to diversify their supply chains away from China are hampered by its stifling bureaucracy and restrictive rules, analysts say, in contrast with its more nimble regional rivals. As trade tensions between China and the West continue to push companies to adopt a “China plus one” strategy … Read more
Indonesia could also be compelled to delay plans to relocate a primary batch of civil servants to its beleaguered new capital, doubtlessly casting additional doubts on a mission that is still not on time and is struggling to draw funding. Although the federal government initially deliberate to relocate greater than 10,000 civil servants to its … Read more
