Prabowo Proud Danantara Cuts 250 State-Owned Enterprises: I Was Shocked There Were 1,077

President Prabowo Subianto has admitted he was shocked to learn that the number of state-owned enterprises (SOEs) in Indonesia had reached 1,077. Prabowo only discovered the figure after he was officially sworn in as President.

He said he had not previously known the exact number of SOEs in the country. When he was part of the cabinet of Indonesia’s 7th President, Joko Widodo (Jokowi), he had assumed the number of SOEs was between 300 and 350.

Prabowo made the remarks at a plenary cabinet meeting at the Merdeka Palace on Monday, 20 July 2026.

“When I joined the cabinet of President Joko Widodo, I followed along but I had not yet mastered the figures. I myself was a cabinet member, and I thought the number of SOEs was somewhere between 300 and 350. I was shocked when I became president and was given a report showing there were 1,077 SOEs,” Prabowo said.

“And this needs to be checked again — there are SOEs that set up subsidiaries, then create ‘grandchild’ companies, and then set up ‘great-grandchild’ companies,” he continued.

Nevertheless, Prabowo expressed his appreciation to the leadership of Danantara for successfully reducing the number of SOEs in Indonesia. As of 31 July 2026, Danantara is said to have cut 250 SOEs through closures and mergers.

“And I am grateful, I am proud that the leadership of Danantara, in its first 18 months, has managed to reduce that number from 1,077 — by the end of this month, 31 July, they have closed, consolidated and carried out mergers so that 250 SOEs have been cut,” he said.

The head of state also expressed pride that, for the first time in its history, Indonesia has an institution managing the nation’s sovereignty, namely Danantara.

“This is one of our achievements that I believe will be remembered by history — for the first time in the history of the Indonesian nation, we have succeeded in building a sovereign wealth fund that we call Danantara,” Prabowo said.

He explained that Danantara is an institution that consolidates state funds and state wealth into one. Going forward, Prabowo said, those funds can be used for the nation’s future.

“Danantara is a sovereign wealth fund where the nation’s savings and wealth are unified, consolidated and managed properly, and this becomes a reserve — this becomes the energy for Indonesia’s future, for our children, grandchildren and great-grandchildren,” Prabowo said.