Prabowo Plans to Appoint Presidential Envoys to Oversee State-Owned Enterprises

Jakarta — President Prabowo Subianto plans to appoint special presidential envoys to oversee state-owned enterprises to strengthen monitoring of the country’s major state companies and prevent the loss of national assets.

The President believes that strict oversight of state-owned enterprises is necessary to prevent the leakage of state wealth. “I have appointed special presidential envoys, and I may later appoint special envoys for each SOE we manage. We must oversee because this is the lifeblood of the Indonesian nation. If this blood continues to leak, our nation will be in difficulty,” President Prabowo said while addressing the first anniversary celebration of the Danantara Investment Management Body at Wisma Danantara in Jakarta on Wednesday (11 March).

Speaking before senior state officials and Danantara executives, President Prabowo expressed his conviction that many wealthy nations have suffered losses when oversight is weak and management is poor. “I urge vigilance, mindfulness and alertness. Protect yourselves. Remember, the hopes of the entire nation and all our people rest on your shoulders. You protect, you manage the wealth of our children, grandchildren and great-grandchildren,” President Prabowo told Danantara’s senior leadership.

“Always remain vigilant. Many sovereign wealth funds have suffered losses. Many sovereign wealth funds in the wealthiest nations have also suffered losses due to poor management. We will strive for all oversight measures. I believe Danantara is the most closely monitored institution in Indonesia. There is a Supervisory Board, and I believe our Supervisory Board is sufficiently strong, with almost all coordinating ministers present. I have also requested the State Audit Board (BPK) to oversee Danantara, the Internal Audit Board (BPKP) to oversee Danantara, the Attorney General’s office, the police, the Commander of the Armed Forces, all participating in oversight,” the President said in his address.

During the same event, beyond oversight matters, President Prabowo also reiterated the importance of good corporate governance to Danantara’s senior leadership and SOE leaders. “I am convinced and believe that the key to good management lies in the heart, in the soul,” Prabowo told Danantara executives and SOE leaders at the institution’s anniversary celebration.