Export-Focused State-Owned Enterprises: Prabowo Says We Must Know the Wealth Being Sold
Export-Focused State-Owned Enterprises: Prabowo Says We Must Know the Wealth Being Sold
Jakarta, CNBC Indonesia - Indonesian President Prabowo Subianto announced the formation of a Special Export State-Owned Enterprise (BUMN) for several commodities, such as coal, palm oil, and ferro alloys.
With the establishment of this special BUMN, Prabowo wants to determine precisely how much wealth, particularly the export proceeds, should be enjoyed by Indonesia.
‘We must believe that all of Indonesia’s natural resources belong to the Indonesian people, to the nation. Therefore, the state has the right to know in detail our natural resources that are sold abroad. We do not want to be lied to anymore; we want to know exactly how much of our wealth is being sold,’ Prabowo said during a plenary session of the Indonesian DPR on Wednesday, 20 May 2026.
Prabowo explained that through the Special Export BUMN, the sale of all natural resource outputs, starting with palm oil, coal, and ferro-alloys, must be conducted through a BUMN designated by the Government of Indonesia as the sole exporter.
‘In other words, the proceeds from each export sale will be passed on by the government-designated BUMN to the business operators managing the activities. This can be described as marketing, marketing facility,’
‘The main objective of this policy is to strengthen oversight and monitoring and to root out under-invoicing, transfer pricing, and foreign exchange leakage from exports,’ Prabowo asserted.
Meanwhile, Coordinating Minister for the Economy (Menko Perekonomian) Airlangga Hartarto stated that the Special Export BUMN is named PT Danantara Sumberdaya Indonesia (PT DSI).
Meanwhile, the Investment Minister/Head of BKPM and also CEO of Danantara Indonesia, Rosan Roeslani, added that the formation of PT Danantara Sumber Daya Indonesia is an effort toward transaction transparency. ‘For quite some time, the data from the president at the World Bank shows high levels of under-invoicing and transfer pricing,’ Rosan said.