Jakarta, February 25, 2025 – The Presidential Communication Office (PCO) has affirmed that the National Investment Management Agency, Daya Anagata Nusantara (BPI Danantara), is managed with full responsibility, accountability, and transparency.
“President Prabowo Subianto has declared his commitment to combating corruption and ensuring a clean government. Danantara will be managed with the same integrity, adhering to high governance standards similar to those followed by international institutions in compliance with the Santiago Principles,” said Hasan Nasbi, Head of the Presidential Communication Office.
BPI Danantara, also known as the Danantara Indonesia Sovereign Fund, will adopt the 24 Santiago Principles—global guidelines for investment governance and risk management for sovereign wealth funds. These principles are generally adhered to by members of the International Forum of Sovereign Wealth Funds (IFSWF).
Key principles include clearly defining and publicly disclosing the fund’s objectives, establishing a transparent and accountable organizational structure with a clear division of roles between fund owners and managers, and ensuring prudent investment risk management to safeguard national assets while maintaining independent auditability. These principles aim to uphold Danantara’s integrity, placing it on par with international sovereign wealth funds such as Norway’s Norges Bank Investment Management and China Investment Corporation.
Furthermore, Hasan emphasized that accountability and transparency are crucial for Danantara to gain market trust. “If it is not transparent, it will not be viable; the market will not trust it. Therefore, it must be highly transparent and fully accountable,” he stated.
Hasan also stressed that President Prabowo wants Danantara to be managed transparently and be subject to audits at any time by any auditor. To ensure oversight, the President has established a multi-layered supervisory system, comprising a Board of Supervisors, an Advisory Board, and a Monitoring and Accountability Committee, which will be regulated by a Presidential Decree.
The Board of Supervisors is tasked with overseeing the Executive Body, approving work plans, budgets, and key performance indicators, evaluating accountability reports, submitting reports to the President, and drafting the code of ethics for Danantara’s management. In addition to the Board of Supervisors, Danantara will have an Audit Committee, an Ethics Committee, and other necessary committees. State-owned enterprises under Danantara’s umbrella will remain subject to oversight by national auditing institutions such as the Supreme Audit Agency (BPK).
To uphold accountability and transparency, Danantara will be led by individuals of the highest integrity, including national figures serving as advisors to the institution.
“Former Presidents will also be invited to serve as advisors, ensuring that this institution is safeguarded and guided by individuals with unquestionable integrity and deep devotion to Indonesia,” Hasan explained.
According to Hasan, Danantara will consolidate the nation’s wealth under a single management entity. With an estimated Rp14,000 trillion (USD 870 billion) in assets, Danantara will not merely function as an investment manager but also as a strategic planning instrument to drive Indonesia’s economic independence, prosperity, and progress by 2045.
During the official launch of Danantara, President Prabowo Subianto emphasized that the fund is for future generations of Indonesians. Danantara embodies Article 33, Paragraph 3 of the 1945 Constitution, which states:
“The land, waters, and natural resources within shall be controlled by the state and utilized for the greatest benefit of the people.”
“This article underscores that Indonesia’s natural resources must be managed by the state for the welfare of all its citizens. Therefore, vital industries must remain under state control,” Hasan concluded. (PCO)
Source : Kantor Komunikasi Kepresidenan (PCO)
