Speaking during a talk show session at the Forbes Global CEO Conference in Jakarta, Prabowo said he had instructed the nation’s sovereign wealth fund, Danantara Indonesia, to lead the restructuring process.
"I’ve asked Danantara’s leadership to streamline our 1,000 state companies into a more rational number—perhaps 200, 230, or 240,” he said.
He added that SOEs must operate under international business standards and be open to the best talent, both domestic and foreign.
“I amended the regulation. An expatriate can now lead our state-owned enterprises,” Prabowo said, referring to new rules allowing foreign professionals to hold top positions in SOEs.
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The president explained that the overhaul is aimed at making SOEs more efficient, transparent, and globally competitive. Currently, their return on assets remains low, ranging between just one percent and two percent.
Addressing the broader gap between political and business sectors in Indonesia, Prabowo also urged future political leaders to understand the fundamentals of business and economic management.
“Many political leaders are afraid of numbers or business. That’s why I encourage young people who want to enter politics to first understand the economy and how business works,” he remarked.
The Forbes Global CEO Conference, now in its 23rd edition since launching in Singapore in 2001, was held in Jakarta this year. The city last hosted the Forbes Global CEO Forum in 2016.
President Prabowo’s participation underscored Indonesia’s commitment to helping shape a more inclusive and equitable global economic order.
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Translator: Uyu Liman, Nabil Ihsan
Editor: Rahmad Nasution
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