Head of Asprindo's Expert Council Highlights Implementation of Soemitronomics in Prabowo's Policies
Jakarta – The Chairman of the Expert Council of the Indonesian Archipelago Indigenous Entrepreneurs Association (Asprindo), Prof Didin S Damanhuri, has highlighted the direction of President Prabowo Subianto’s economic policies over the past year. He sees Prabowo as attempting to implement an approach known as Soemitronomics.
Didin explained that the term Soemitronomics refers to the economic thinking of Soemitro Djojohadikusumo, Prabowo Subianto’s father. According to Didin, this concept reflects Article 33 of the 1945 Constitution, which emphasises the balance between the roles of the state, private sector, and cooperatives in the national economy.
Soemitronomics, Didin stated, bears similarities to the social democratic system in Western European countries, particularly in the Scandinavian region such as Sweden, Finland, Denmark, Norway, and Iceland.
What is Soemitronomics?
Didin interpreted Soemitronomics as focusing on popular sovereignty in the economy. In this concept, the state plays an active role in regulating the market to keep it healthy while preventing excessive dominance by capital.
He cited practices in social democratic countries, where the private sector continues to develop but remains subject to government regulations, including progressive taxes, social security contributions, anti-monopoly rules, and other regulations. This allows cooperatives to grow alongside private entrepreneurs operating in a socialist environment.
“They (cooperatives and the private sector) operate within a healthy market mechanism. Economic development must not follow a colonial culture and an ‘inlander’ mentality that only creates ersatz or fake entrepreneurs,” Didin said, as quoted from a written statement on Thursday, 26 March 2026.
Economic Challenges in Indonesia
Didin views Soemitronomics as the government’s effort to address major challenges in Indonesia, where rent-seeking economic activities remain prevalent. This practice involves seeking profits through closeness or lobbying with those in power, rather than through innovation or efficiency.
“So I think, as long as they are not rent-seekers, the private sector can develop within the context of the Pancasila Economy as Bung Hatta said, and also looking at social democratic countries,” Didin stated.
Moreover, there is the layer of indigenous SMEs as the foundation of the middle class. He emphasised the importance of promoting micro, small, and medium enterprises (MSMEs), which currently dominate more than 99 percent of the national business structure.