Hatta Rajasa, a potential running mate of presidential candidate Prabowo Subianto of the Gerindra party, had tendered his resignation in line with the regulation.
Chairul Tanjung, who owns the Indonesian unit of Carrefour hypermarket and is known for his proximity to the president, was installed by Yudhoyono at the state palace.
Earlier, the president reiterated that Chairul Tanjung has the skills and strong commitment to boost the countrys economic growth.
Chairul is not a newcomer in the field of economic management, he stated, adding that as the chairman of the National Economic Committee (KEN), Chairul has supported the government and has contributed by handling economic problems.
"KEN is not a forum of academicians, but a place of congregation for business leaders and economists. I believe Chairul Tanjung has succeeded in bringing together several business leaders and economists," he emphasized.
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