Prabowo Pursues Downstreaming, Targets Global Technology

President Prabowo Subianto has affirmed a new policy direction for State-Owned Enterprises (BUMN), now focused on accelerating national downstreaming and strengthening the mastery of high technology. In his speech at the Annual Session of the MPR and the Joint Session of the DPR and DPD in Jakarta, Friday (14/8), the President stated that the government will not only build processing facilities domestically but also plans to make strategic acquisitions of the world’s best companies. The move to purchase global companies aims to allow Indonesia to gain direct access to technology, intellectual property (IP), world-class management, market networks, and mature industry experience. “We will also buy the best companies in the world. So we can get their technology, we can get their IP, we can get the best management, we can get their market, we can get their experience, so that later our economy will be strong,” said Prabowo. Through the Danantara Management Agency (BP Danantara), the government has initiated dozens of downstreaming projects throughout 2026. Prabowo detailed that the first wave of development began on 6 February 2026 with 13 projects, followed by an additional 13 projects on 29 April 2026. Beyond the focus on downstreaming, the President stressed the importance of strengthening the upstream sector. One concrete example highlighted was the livestock sector. To achieve self-sufficiency and increase national meat production, Indonesia needs a large cattle population quickly. Prabowo mentioned that mastering cutting-edge technology, including cloning technology, is key to accelerating the increase of the livestock population in the country. “For example, to increase our meat yield, we need a lot of cattle. With that, we can obtain cloning technology,” he explained. This grand strategy is expected not only to strengthen the national industrial structure from upstream to downstream but also to create tens of thousands of new jobs for the Indonesian people through various strategic projects managed by BUMN and Danantara.