Prabowo: DDMF to Fund Long-Term Strategic Projects
Danantara is our sovereign wealth fund. Danantara must become an instrument for building national capacity for decades to come.
President Prabowo Subianto has introduced the Danantara Development Management Fund (DDMF) as an instrument prepared to finance long-term strategic projects vital for Indonesia. He stated that Danantara is Indonesia’s sovereign wealth fund, which must serve as a tool to build the nation’s capacity over the long term.
“Danantara is our sovereign wealth fund. Danantara must become an instrument for building national capacity for decades to come,” President Prabowo said during the Government’s Introductory Statement on the Bill on the 2027 State Budget and its Financial Memorandum at the MPR Building in Jakarta on Friday.
According to him, the DDMF plays a role in preparing, developing, and financing long-term strategic projects that cannot yet be funded through short-term commercial investment. Consequently, these projects are also expected not to rely on financing from the State Budget (APBN).
President Prabowo also emphasised that the nation’s sovereign funds, through the DDMF, will be invested in a disciplined and professional manner to support various national strategic projects. One example, he noted, is the plan to develop a national car. The government is targeting mass production of the national car to commence by the end of 2028.
“We are planning our national car, to be mass-produced by the end of 2028. The facility is already being built in the Subang area,” President Prabowo said.
In addition to the national car, the government has also launched a national motorcycle project. Prabowo stated that the national motorcycle ecosystem is already operational, involving private companies and state-owned enterprises (BUMN). “The national motorcycle project has also been launched. The national motorcycle ecosystem is already working. Two large private companies are involved, and two BUMN have also started producing electric motorcycles,” he concluded.